Ford Restructuring Gets A Boost From UAW
Ford shares rise after UAW pledges to help(CBS MarketWatch 08/08 12:44:36)
SAN FRANCISCO (MarketWatch) -- Ford Motor Co. shares rose 3.4% to $7.41 in midday trading Tuesday, after a published report quoted a top union officialas saying the United Auto Workers is ready to help solve the automaker's crisis."We're open to whatever helps the company and protects our members," said UAW Vice President Bob King, according to the Detroit News. Ford, following its surprising second-quarter loss, vowed to speed its restructuring plans, which previously called for shuttering 14 plants and cutting up to 30,000 jobs by2012. The company is expected to update the status of its Way Forward plan within a few weeks.
8/08/2006 01:52:00 PM
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