… to an article in the Star-Telegram, workers have rejected contract changes that would have allowed Ford Motor Co. to cut labor costs and remain competitive with Chrysler and GM, both of which recently emerged from bankruptcy.

The article said:

“Ford sought the deal to bring its labor costs in line with Chrysler Group LLC. and General Motors Co., both of which won concessions from the union as they headed into bankruptcy protection this year. Under pattern bargaining, the three …

Tags: Bankruptcy Chapter 11 Bankruptcy Ford

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According to an article in the Dallas Morning News, Ford has experienced a 10.7 percent drop in sales in June; but they call the decline “steady progress” considering the overall state of the auto industry.

The article said:

“We’re making steady progress,” Jim Farley, the company’s group vice president of marketing, said in a statement. “We remain grounded, however, given challenging industry and economic conditions.”

Ford is …

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According to an article in the Dallas Morning News, Ford Motor Co.’s U.S. auto sales fell by nearly 41 percent in March. Ford sold 131,102 cars and light trucks last month, compared with 221,642 in March 2008. The automaker who is fighting bankruptcy reported that sales of its Focus compact car fell 42 percent, and sales of its top seller, the F-series pickups fell 40 percent and Ford Expedition sales plummeted 73 percent a huge blow for the …

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… worth $10,949 and encumbered by a loan with a principal balance of $9,368. The other was a 2007 Ford 500 worth $12,730 and encumbered by a loan with a principal balance of $27,737. Because the Ford was purchased less than 910days prepetition, the debtor could not bifurcate the claim into secured and unsecured portions even though the debt included the rollover of a previous car loan. The debtor pro­posed a plan that paid $85,930 to the trustee. That amount was sufficient to satisfy the two …

… plans Con¬gress authorized the Secretary of Education to design and offer under the William D. Ford Federal Direct Student Loan Program become more relevant to a totality-of-the-circum¬stances undue hardship analysis.”

This bankruptcy case demonstrates how income contingent repayment program (ICRP) could ironically serve as another obstacle for debtors seeking to discharge student loans in bankruptcy. Already it is extremely challenging for debtors to discharge student loans in …

… which had $13.6 billion in sales in 2008 is a key automotive parts supplier for General Motors and Ford Motor Co. Of course GM has filed bankruptcy and Ford is still struggling financially despite avoiding a bankruptcy filing. Lear is the first major automotive parts maker to seek bankruptcy protection since Visteon Corp., filed for Chapter 11 bankruptcy in May 2009.

The article said:

“Parts suppliers have been hammered by the recession as consumers continue to shun new car …

… and having difficulty repaying your student loans, you’ve probably heard of the William C. Ford Income Contingent Repayment Plan. The income contingency repayment plan allows student loan debtors to repay their student loans based on their current income. Depending on the debtor’s income, the student loan payments can be reduced to as little as $0 per month. That is not a typo, a student loan debtor may be required to pay zero dollars per month if their income is low enough …

… they may soon face a job loss. Let’s to a look at some of the job loss guarantee offers:

Ford and GM are offering to make car payments for consumers who experience a job loss after purchasing a new vehicle.

Hyundai is allowing car buyers to return their new vehicle within a year if they experience a job loss or disability.

JetBlue airlines is offering a full refund for plane tickets and hotel reservations if a consumer experiences a job loss before their trip.

Well, I …

According to an article in the Dallas Morning News, Ford Motor Co. and General Motors Corp. are offering payment protection plans to consumers who are hesitant about buying a new car because of possible job losses in the future

The article said:

Ford said Tuesday it will cover payments of up to $700 each month for up to a year on any new Ford, Lincoln or Mercury vehicle if consumers lose their jobs. The program runs until June 1.

Hours …

… is providing a $5 billion bail out to nearly bankrupt auto parts suppliers who are dependent on Ford, GM and Chrysler automakers.

The article said:

The program will be run through U.S. automakers – General Motors, Chrysler and Ford Motor Co. – that agree to participate. Suppliers to those companies would have to agree to terms of the government-backed protection and pay a small fee for the right to participate.

The Treasury Department said General Motors and Chrysler have already …

… , Thomas Donohue, the head of the U.S. Chamber of Commerce is encouraging U.S. automakers (Ford, GM and Chrysler) to file bankruptcy.

Donohue said:

“If it were me, I would play that card…(referring to bankruptcy) I said it because maybe they can’t say it. If all else fails, they are not going to have a choice.”

We all know that bankruptcy can help individuals recover from financial blows; but the automakers took taxpayer money with the promise that they could become …

… losses, foreclosure, bankruptcy and decreased consumer spending.

The article said:

Ford Motor Co. said Tuesday its U.S. vehicle sales fell 40 percent in January,

Ford sold 93,060 light vehicles in January, compared with 155,832 in the same month of 2008. Toyota sold 117,287 vehicles, down from 171,849. Light vehicle sales exclude heavy trucks.

Other automakers also are expected to report lower sales when they release their figures later Tuesday. The industry has …