Podcast Script
Crisis at Ford Motor Company
Complete Show Length in Minutes: 5 mins
Episode 1: Topic: Financial Crisis at Ford Motor Company
Intro Music Clip: Title: none
Intro: Crisis at Ford Motor Company: Time: 1 min
Welcome! I am Vanessa Sember, and this is my podcast, “Crisis at Ford Motor Company”, where I discuss the financial undergoing of the company and the struggle of its workers. In this specific segment I will be discussing the most recent financial situation of this huge American company as it stands today. For the past year there have been critical issues that confront the domestic automotive industry in the current economic environment. The recession has had very negative impacts for the U.S. auto industry, which supports millions of jobs in all 50 states. The impact of the credit crisis has been felt in the domestic automotive industry. A quote from one testimony, “The recession and financial crisis has resulted in automotive industry sales volumes at the lowest annualized level in 25 years.” The struggle continues and the situation is only getting worse. The credit environment has severely limited the ability of Ford Motor Credit Company to support dealer and consumer financing needs. This is clearly affecting our economy.
Segment Music Clip: Title: What I’ve Done (Linkin Park) 20sec
Segment: Sacrificed Workers: Time: 2mins
I had recently interviewed one of the workers from Ford Motor Company Eduardo Goncalves. Ed has participated in some local events that pertained to the financial situations of the company. His more recent participation was one for a local agreement (UAW Local 600) asking for votes towards a proposal to help Ford through these hard times. From a quote from the UAW 600, “Ford closed at $2 and GM at $4 November 24, 2008 and their market caps are at $4 billion and $2 billion”. Ford and other American companies provide millions to the American Red Cross matching employee contributions of the same number while foreign auto companies have zero contributions. Congress is slamming the American Automotive Industry and protecting transplants that give nothing back in America’s time of need. Ford workers are extremely furious with the ongoing situation at Ford and they are demanding help. Sacrifices have been made for years by Ford workers and the concessions they gave up went into the pockets of the Ford family, the banks, and the big stockholders and company executives. “If the auto companies are really hurting, then the people with money need to go into their own pockets to pay for it”, a quote from Goncalves. Wages have been cut down tremendously and many have been laid off. The workers are paying the tough price for the mistakes of others.
End Segment Music Clip: Title: Stronger (Kanye West) 20sec
Ending: A Competitive Company: Time: 2 mins
We have to protect American jobs! Ford has begun a fundamental restructuring in the way they do business, a restructuring that affects every part of the business, including product innovation, fuel efficiency, labor relations, suppliers, and dealers. The most important thing is that people realize that buying foreign cars is having a big affect on our economy and the American auto industry. Foreign companies such as Toyota, Honda, etc… have no union, which means they are paying their workers on a lower wage, therefore making it easier on those companies. What the government needs to do is impose higher taxes on foreign vehicles to make it fair to the American companies. Action must be taken immediately in order to make it a fair trade. The government needs to stop being too easy on foreign companies because foreign countries impose high taxes on American cars in their country but the United States is not doing the same here and letting everything go easy to these companies. If you want to see positive changes in our declining economy… BUY AMERICAN!
(The Ford Rouge where Eduardo Goncalves works)
( All the awards Ford received for their achievements)
( Truck Trend magazine chose the F150 as the best truck of the year as far as redesign and performance.)
