ˆ UAW wants executive pay to be limited

tags : automaker , bailout , big three , bigthree , billion dollar , billiondollar , chrysler loan , chryslerloan , detroit 3 , detroit three , detroit3 , detroitthree , ford loan , fordloan , gm loan , gmloan , loan , uaw

The president of the United Auto Workers union, Ron Gettelfinger, said in a recent CNN interview that U.S. automakers need to tell Congress they will limit corporate pay, bonuses and severance packages in return for more government loans. Gettelfinger also said that the Detroit Three only need the loans to hold them over during these tough times. While the first statement from the union's top player seems like basic common sense, the second seems highly optimistic... especially when one considers the size of the industry and the depth of its issues. While no single event (or loan, for that matter) will likely turn around the downslide, all of those affected by the auto industry's potential demise will be interested in tomorrow's events. That's because Dec. 2 is the day House and Senate leaders told the automakers that they need to submit a "credible restructuring plan" that's convincing enough to get Congress to open its wallet when it reconvenes next week.

posted : 12/3/2008 @8:50:14 PM

ˆ Ford delays car payments for victims of Iowa tornado

tags : ford , ford lease , ford loan , ford motor credit , ford payment , fordlease , fordloan , fordmotorcredit , fordpayment , grace period , graceperiod , iowa tornado , iowatornado , lease payment , leasepayment , loan payment , loanpayment , skip payments , skippayments , tornado victim , tornadovictim

Car payments are way down on the list of concerns for victims of the recent tornados in Iowa. Thus, Ford Motor Credit has introduced a Disaster Relief Program that will offer grace from one or two monthly payments to qualified customers. Lease customers, or buyers who financed purchases through Ford Credit or other brand-specific financing arms (Jaguar Credit, Land Rover Capital, Mazda American Credit, Primus, or Volvo Car Fiance) will be notified by mail about how to register. Once registered, customers can postpone one or two months worth of payments, allowing them to focus on putting their lives back together again before worrying about the next check to Ford. We expect other automakers to follow Ford's lead this week as the extent of damage caused by Iowa's strongest tornadoes in 32 years is fully revealed.

posted : 6/2/2008 @7:45:02 PM

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