The UAW officer who heads negotiations with The Ford Motor Company (F) told other members of the union that the automaker could not weather a strike. He added that if the company’s sales continue to fall, Ford could have to enter Chapter 11 within “a couple of years”, according to Bloomberg.
Ford’s share of the US market has continued to fall as it former flagships including the F-series pick-up and Explorer have lost sales.
The UAW’s problem will be that, if it gives concessions to Ford (F), it may have trouble holding back agreeing to the same accommodations with GM (GM) and Chrysler. All three companies are troubled, and arguing that one is substantially worse off that the others should fall on deaf ears.
It is more likely that this fall’s negotiations will be the end of the UAW, as its members have known it, than the end of Ford.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
