26 Burst results for "Jim Hackett"
Ford's Jim Hackett is out as CEO, to be succeeded by Jim Farley as restructuring plan fails to reignite stock
"Hackett. Will retire on October first after leaving Ford. Motor Company for Three Years Currency Oh Jim. Farley. Will take over in the middle of global restructuring effort. He'll also inherited a company that has so far failed to meaningfully boost its stock price which has remained below competitors. For years. Farley says for its competitors are no longer traditional pierce like General Motors they're often newcomers to the automotive. Renew. Our competition today dams on. By do have flow apple for Yoda and others. well-financed. Company fairly will also face the challenge of reviving sales in China the world's largest car
"jim hackett" Discussed on WJR 760
"Primary Voting day is underway. Masts will not be required when you head to the polls, but you are encouraged to wear a mask Governor Wittmer telling Paul W. Smith there some constitutional reasons. To making the max masts optional at the pole. Precisely. We strongly strongly encouraged people to mask up to use hand sanitizer to make sure that they stand six feet apart from one another when they are in line vote if there's a line There are several important contests in today's primaries, Four Republicans are buying for the chance to face off against incumbent Congressman Elissa Slotkin in the eighth Congressional district. There are six Republicans hoping for the chance to face Democrat incumbent Congresswoman Haley Stevens in the 11th Congressional District. Brenda Jones hopes to unseat Congresswoman receded Toe leavin the 13th district Both are Democrats there. Michigan reporting six new Corona virus death and 600 for new cases. Health officials closely monitoring a spike in Corona virus cases in parts of Oakland County. A growing number of cases Khun be traced to graduation and prom parties. There have been 50 new cases in South Lyon and in Lyon Township. There are 16 cases. Ford Motor Company's CEO Jim Hackett, stepping down retiring after three years at the helm of the automaker, 58 year old Jim Farley has been tapped to take over the reins in a news release. It says that 65 year old Hackett, who went on Who went to Fort after retiring as the CEO of Steel case in Grand Rapids, elected to retire from the company, Farley will take over October 1st as the pandemic restrictions. These more people are on the road. You've probably noticed that Michigan State police Lieutenant Mike Shaw says they are still finding the people are not pulling back on their speed. Even though there are so many more cars on the road. I think now as traffic is kind of pushed into their people say they don't realize how fast they were going, or there wasn't so much truck got here before, you know, Then you get the same excuses that we got. You know, years and years ago, the restroom over you know I'm late for work, or I didn't cram properly. Officials are warning residents of several states to take a look at the source of onions they may have in their pantry. Hundreds of salmonella cases have been reported amid an outbreak linked to a California based facility. The CDC last week issued a food safety alert for a red, yellow, white and sweet yellow onions produced by Thompson International of California linked to the outbreak, which is second more than 400 people in dozens of states. They were shipped May 1st and sold under a variety of brand names. Experts recommend people I'll throw away onions if they have any doubts about whether they're safe. Federal, state and local health and food officials continue to investigate. I'm Scott Carr. On Wall Street. This hour, the Dow is up 103 the NASDAQ slipping down into negative territory. The NASDAQ is off seven points for W. J. R News. I'm Marie Osborne will have more with Chris Run Wick in two minutes. The Construction Association of Michigan Cam has been helping commercial and industrial contractors and suppliers grow since 18 85. They provide contractors leadership through aggressive lobbying.
Ford Names Jim Farley New CEO, Succeeding Jim Hackett
"Ford Motor Company CEO Jim Hackett stepping down retiring after three years at the helm of the automaker. The 58 year old Jim Farley has been tapped to take over the reins, a news release says. The 65 year old Hackett, who went to Ford after retiring as the CEO of steel case in Grand Rapids, elected to retire from the company Farley will take over October 1st.
"jim hackett" Discussed on WNYC 93.9 FM
"Back right away to ramp up production Ford closed all production facilities last week to keep workers at home during the corona virus outbreak earlier today I spoke to Ford CEO Jim Hackett I started by asking him how long it would take to retool those factories to produce medical supplies well it's important in this news to make it really clear how we're attacking this problem which helps answer the question how long the scale of ventilators to the kind of volume that the world needs we have to subdivide the problem make a supply chain for so G. E. N. four to working and consulting with each other sharing resources and this problem will get even subdivided further to other suppliers so the it's my instincts today listening to all the reports from our teams that by mid may we should start being halfway up the curve of scaling this by June you'd be put producing at a rate that would be able to make nine hundred thousand a year wow right that's working with your partners to reconfigure the supply chains reimagine them you say subdividing the different tasks for each each each entity that's right there's not a line of ventilator building in the world that can handle this demands we have to come at the problem differently let me ask you how many people do you think you will end up bringing back to work in order to provide all these men leaders because I know that you shut down production facilities earlier this month yeah just to give you again the sense of the scale here is Ford employees over for you know fifty thousand workers in factories in America today but to produce a line like this you know we're we're getting started with two hundred and eight people in one location you know three hundred and then the other night if we have what it can scale quite quickly but if you had more than two thousand people in the supply chain working of building this I would be surprised if it probably won't get much bigger than that okay builders and how involved was the federal government in creating this partnership that that you all announced today for three M. and G. E. health well I never got a call to started but I was talking to Larry Kudlow and the White House in saying Hey we have a history of Ford the arsenal of democracy is a famous story where it will run we build a bomber every sixty three minutes that we want to help and he said go for it and the department of defense has been involved so there's been total support from the government go for it Ford come back to us tell us what you need and so we've we've got a really open line of communication with them and this is something I prefer frankly which is let the entrepreneur in the innovation team work the government help us get through any kind of friction as we get these things built they're going to help us distribute them because they FEMA has an extensive network to get things to people quickly so it's hand in glove kind of working together I want to talk about this how to work with the federal government because there has been a lot of talk about the defense production act this would mobilize the private sector to provide the federal government with needed supplies during times of crisis what guidance how have you gone in general from the federal government this week on whether they will end up using the defense production act we I haven't been involved in the policy discussions of the of the application of that because I think it's my observation watching the president also in press conferences saying that he's got a business instinct where he thinks leading turning business loose to let them work through the system the way they know how to compete you get a better output versus kind of nationalizing production and you agree with that you agree that it should be on companies to step up first and if they eventually need help with from the federal government they can ask for it but in the beginning companies should act on their own initiative is that we are more than more than believe that I think it's it's by far proven that it's the best way and listen this is the state of America every time the country's ever have a challenge like this businesses came together and responded in amazing ways it's actually the most responsive fastest way to get something to happen I want to talk about the new year remaining plants will be shut down until the end of the month that was announced just a week ago about a few days ago are you considering extending that time period because the end of March is just a week from today that's a really fair question and we always said in in joint discussions with Rory gamble of the U. A. W. that our first obligation is to make everyone safe and that by you know sheltering in place and social distancing flatten the curve and we can get back to work is we look at the growth of the curve right now I think it's probably going to be premature but not by ten weeks or something that would be really damaging to the economy we're talking about you know maybe twice the time longer so we may be looking at four weeks from now got it I'm gonna switch gears a little bit and talk about the economy we're already experiencing major job loss across the country and there are a lot of economists who say that we could very well be headed for a recession how prepared is Ford to weather a recession at this point well you we've been tutors based on you know experience before and then personally I ran a company called steel case through the last great recession so anyone who's been in business for the last twenty years noon to get your balance sheet ready for unexpected event management is what we call it so Ford did not take any bail out money in oh six oh eight and in in in the company came roaring back in this case we kept the balance sheet stocked with more cash than we probably needed and in fact last week we took the extraordinary action of pulling down the line of credit a fifteen billion so we have we're sitting on about thirty seven billion in cash this is more than enough this would be much more than we need and then the last great recession but we modeled what we would need if there was no sales you know how worried are you about a major drop in demand for new cars is that a real concern here's my optimism if we can find ourselves to be really disciplined about the shelter in place we can come out of the economic effects in mid may and the country can be turned back on rare really rapidly we're we're certainly in financial shape to keep things going we are going to get rid of workers were trying to really take care of them during this period so that when this is over we just turn the thing back on Jim Hackett is the CEO of Ford motor company thank you very much for joining us today thank you the corona virus pandemic has hospitals and doctors scrambling to find enough medical supplies like masks and hospital gowns some states are ordering a stop to non essential medical procedures to help preserve those supplies but what are non essential procedures there's a debate now over whether abortion should fall into that category NPR national correspondent cinema cameras following this and joins us now hi Sir how ARE abortion has always been a politically charged issue in normal times how is this corona virus pandemic amplifying the debate some anti abortion rights advocates activists are calling for abortion to be considered an elective procedure and to be banned by states during this outbreak in an effort to conserve medical supplies in a letter today to the federal department of health and Human Services a few dozen anti abortion rights groups including Susan B. Anthony list family Research Council and the southern Baptist ethics and religious liberty commission among others are asking HHS secretary Alex azar to urge abortion providers to quote cease operations during the corona virus outbreak I spoke to Mallory Quigley whose with one of those groups the Susan B. Anthony list abortion is never it's never necessary you know there are other alternatives and we want to see a state health officials and governments be promoting alternatives during this time and quickly argues that one women who would be required to continue pregnancies rather than having an abortion would likely give birth in several months fleet freeing up supplies right now so that letter went to federal officials what's happening at the state level more than a dozen states have ordered elective procedures to be stopped for now and this is true in both states that are led by Republicans and Democrats some have not clarified how or if that applies to abortion others like New Jersey and Massachusetts have explicitly said this does not apply to abortion and then Republican officials in at least two states so far Ohio and Texas have ordered abortion providers to stop performing the procedure during the pandemic and so water abortion providers in those states doing well in Ohio Planned Parenthood officials are essentially saying they disagree with the state Attorney General interpretation of their governor Mike DeWine's order to stop elective procedures they say abortion is an essential health service they believe continuing to perform the procedure does comply with that order but they're scaling back other services as they can in Texas Planned Parenthood says they're reviewing an order from governor Greg Abbott and also making an effort to conserve supplies there any queues abortion rights opponents of politicizing this pandemic here's Jacqueline errors with Planned Parenthood federation of America abortion is an essential time sensitive medical procedure and we know that medical experts have made this clear and we should not be delaying or creating additional barriers for people to get access to the healthcare that they need including abortion act that and that's in line with what some major medical groups like the American college of obstetricians and gynecologists are saying that abortions essential and time sensitive so far we're not hearing of any legal action but we will be watching this as this continues NPR national correspondent Sarah McCammon thank you very much thank you.
"jim hackett" Discussed on WJR 760
"Come up to give the only be over half of the day the adaptive sometimes though too we have some warm clothing to give them absolutely and now we're working on something with forward to have a truck go behind bars food trucks that have items that individuals might need a clothing and coats and socks and hygiene products so that's something that we're going to hear a little bit more about later on when when bill Ford comes on on the air that's great what times will be around ten thirty at ten thirty five to thirty five to thirty five web sorry we're missing a member Dr bill of the one time who flee will catch up with him as soon as hopefully things are going well the regardless of the all the flurry of activity that's happening in the people second guessing what's going on at Ford but said Jim Hackett doing a good job given all the circumstances and now Mister Farley stepping in and stepping up I think that the the the pedals to the metal at Ford and they're trying to do all the things that need to be done and your belly is sitting here which I've noticed so I just turned to my right he's back with us he's going to be with us all day long and into the evening hours of it's certainly good to see you chip thank you it's always good to be here and another great data show our support for the city of Detroit all the folks out there who aren't as fortunate as we are as blessed as we are a lot of people out there the dead and we are helping them today which means you are helping them today and there's a great feeling that you're going to get when you make the call to eight three three south hope or a three three seven two five forty six seventy three or text bread two two four three six five a great feeling you'll get when.
Ford top automotive executive retires in management shake-up
"For the nonce the management shake up following a poor fourth quarter financial performance CEO Jim Hackett says the company fell short of expectations for the year and do you blame the performance largely on the botched launch of the new Ford explorer SUV Ford's now announce automotive president Joe Henrik soul retire effective March first the company's president of new business and strategy Jim Farley will become chief operating officer in charge of global markets and automotive operations and product development chief how Thai Tang will take on an expanded role for products services and customer
"jim hackett" Discussed on KLIF 570 AM
"That's almost like real money. Yeah. That would be real money and the Renault Nissan. Deal is most successful long-term joint venture ever in the history of the car business, according to that article, not, according to the article, according to facts, it's been going on since ninety nine and yet Nissan's margin fell under. I want to say six percent this year. Where's the savings on that? Right. So we're talking with Jason Johnson, general manager, Franken Cadillac and we'll Churchill who along with his sister Corey owns a joint Jason. Did you hear this rumor anywhere, besides me telling to you just now not until you told me this morning, which by the way you should look on his face on told him that? Yes, it was magin. They're surprised Jim Hackett in charge. General motors. That'd be that'd be interesting. Even puts in, in, in the in the story little bit later these not well respected, which one. The article. Well, a Jim Hackett for me. Douglas, MacIntyre wrote the article say he's admitting that he's not really well respected in the article and saying that, that would be nice. But that's not what happened. But my point is with the Ford Motor Company Ford. Family is never going to let it go. They live off the dividends of their special issue stock, and we could probably push this rumor down the road a little bit longer. You know, I mean four the new train station or the old train station in Detroit. I have it in trying to sell the ring. And so maybe, you know, it seems like a plausible marriage into the train stations together, the cultures are completely different of each other. So it'd be like the most disgusting soup you ever ate, but it is a train station. So they could each day on one side of the tracks. In the morning. Again, renaissance center was built by Henry Ford, the second. Right. Okay. Back in the nineteen sixties, because Detroit was considered a blighted city back then, and they'd come out of all the riots of the sixties. And so he decided spin Ford's money and build renaissance center, which, by the way Ford bailed on after all, not that many decades and General Motors, bonded. So GM's already living in Ford's hand-me-down. Yeah. That's a direct result of the riots in Detroit in the nineteen sixties. See, that's kinda history kind of. No. But again, the Ford family, they don't even trust each other. You know that don't you know, when they have the family meetings, they actually have a quick at I forgot a bill's house that, when you walk in, it will tell if you have a taping device on you. Holy you surrender your phones. They get turned off. And they actually want you down to make sure you're not worrying wire. I bet Christmas dinners, interesting. That's great thanksgiving. Don't mind the Pat down before we have the Turkey, you know, you just wonder static electricity from time to time at family meal sets everybody's equipment off. Yeah. Better, check the Turkey where we got it open. But I got tickled because can't find any real logic in that other than if you keep consolidating you consolidate down to nothing. Right. I think it's probably just some board. Writer just throwing something out there who probably hasn't had a accurate in a while and is trying to get a little airtime. That was that was pretty good. Slow news cycle who knows? Yeah, yeah, it's not been a slow news cycle for them. In fact, it's getting to the point, my, my memory is starting to fail. And I think it's because you take in a hundred stories a day now that all seem important some way, knowing that in four or five days, probably a handful of them are still important, but the new cycle so incredible this was just one. I started laughing. When I read it, I think it provides good humor considering all the to your point all the news. It's blowing around. It's based on leave the Chrysler deal with Renault, right? But Sergio Marchionni tried to get Viagra Chrysler's part of GM. He tried to get a part of anyone. That would give them a check Volkswagen wouldn't do it. Nobody did. But are suddenly Renault because they have problems with Nissan. Look like a pretty good pigeon. Right. Ironically, the one thing they're talking about the so great about Fiat Chrysler, Aram, trucks, and jeeps. It said to brain story for sure. Which takes us back thirty years, right? Renault owned American Motors. Yep. The head of Renault was assassinated by an anarchist on the streets pairs. And so they sold American Motors to Chrysler because Lee Iacocca wanted to get Jeep in essence, if this deal goes through the Chrysler with Renault it returns, the best part of American Motors to Renault. That's crazy. To hang out with Ed. Colleges intents and blazing gentlemen. He's not even looking at a computer screen that's coming from the files of ED's head. I just remembered it because one thing that Chrysler got out of it, by the way, I wrote about it for the star telegram this week. But I remember because I'm still doing the stories when I start the show. Leah coca wanted France wall Castaing the engineer who was at Renault took over engineering, and American Motors. Will Bob lots and all the guys didn't anything to do with them. And I said, look, what all he's created, and they never had any money to do it. So maybe we ought to watch what he's doing. Right. He knows how to work without a budget. That's correct. No money. And so what happens? Let's is in charge of design Francois. Castaing takes over engineering and by nineteen ninety eight Chrysler's most profitable car company in the world on a per vehicle built basis. PT cursor Vevey that was before that. That's what that's why Mercedes bottom. Yeah. So any case, I just thought you guys were talking about this. Sessa cadillac. It's all an SUV and crossover market now. And I was just wondering what would be like if you had a Cadillac variation of afford escape. We call it the Cadillac of Skopje. Sounds very luxury. You know, it's kind of like target the circled out boutique target Taja. You're in alpha you're into alpha numeric, the correct thing to call, it would be an XXX minus one or you got to have an F in it. The ex F minus one, minus one. Yeah. Chris over Ford Cadillac. It's, it's just by the way, also brought a deal in that I wrote back in nineteen ninety eight about mergers. Okay. The British motor industry started. Merging, everybody, forgets us at the end of the second World War Morris? Austin Healey became the British Motor Corporation, fifty two, not made didn't make any money. So the Jaguar and British Daimler into the group and sixty six became British Motors, holding sixty eight standard triumph Leyland in Rover joined the group, and it became British Leyland and nowhere longline did this merger and all these synergies and savings ever turn a profit for any of these companies. So the as I put it back in nineteen ninety eight forgot one thing building cars, anybody wanted to buy remember sterling you're sterling dealer. We were. I'm just trying to get some history for all the listeners out. Do you remember how many sterling franchises, they were originally going to put into Dallas Fort Worth? I, I was too small but edged show me forefinger says, one or county, how many were there when they actually opened I have no idea twelve really from day one. It was a disaster. Wow. Uh-huh. Yeah. And it had the Honda Motor and transmission. They were using the Acura legend. Okay. And it had Lucas electrical. So they took the best of Japan and the worst of the British motor industry. And made the sterling. Gotcha. But it drove great right? But it had Lucas electrical in it. And that was the issue, it was so bad Honda wanted to pull their engine transmissions. And the United States government said, if you do then we're going to penalize you for. I know that so Honda goes in what do they do that by twenty percent of Rover to fix the company? And then pull out of America. Normal sterling pull out of them right of because I mentioned there were twelve dealers when Dallas Fort Worth probably best needed to right. So when Honda poll out of the come are bought twenty percent in, they were so happy with the progress there and Rover started building Honda's under licence, Honda built the Rover discovery in Japan under licence. I didn't know that. Yes. They did so Honda's going to buy fifty one percent controlling interest in Rover and the MW shows up so given the choice of white guys that you've been to war with twice, or the Japanese company, which way do you think they went? The wrong way. They went with white guys. They fought in two world wars killed off. Couple generations. But in any case that being said to make it short Honda was furious. BMW calls, Honda and says you need to come to Berlin, and we'll discuss this stuff. They said, no, you can fly to Japan. 'cause we still own twenty percent. And so, when it unwound, Honda still had the license right to the discovery of BMW told him Quinton building it. They said, no. So they built like three. Two years. A row just the snub BMW? It's a great story. Well, you that the car industry is always full of these great stories will, but someone has to know. That you and, you know, one day I will forget them. And everybody's going to go gosh. You know, he when did he start using the Walker again. Yeah. We're done today with real church or who along with his sister, Corey Watson, owns Frank. Can't and by the way, I got a very nice Email that I sent you on Frank canton country out in the country. Yes, sir. Thank you. People. Bought a truck said it was best experience ever had. Thank you. And Jason Johnson is general manager. Franken Cadillac over in Fort Worth coming up next. We once believed in the power of great protest songs apparently not anymore. It's classic tracks next on five seventy KLIF on Jim hardy, general manager of maroon Chrysler Jeep Dodge Ram in Fort Worth over the last few years. I've been amazed to hear how many listeners are looking for that perfect retirement vehicle to go off and cruise North America. In sure a lot one, an SUV, which is perfect as marines has the Jeep, compass Cherokee and Grand Cherokee, which is also the most awarded SUV in history. Well, others are looking for lots of space for them, and maybe even their pets. Well,.
Ford Cutting 7,000 Global Jobs As Part Of Restructuring Plan
"The Ford Motor Company announced this morning. It's cutting seven thousand salary jobs worldwide about ten percent of its white collar employees. It's all part of a big multi year restructuring program that CEO, Jim Hackett has embarked upon, you might remember, though, that Ford made it through the financial crisis, without the bankruptcy filings, the GM, and Chrysler had to make in the f one fifty pickup truck has been bestseller and huge profit maker for decades now. But as marketplace's Jack Stewart reports Ford, along with all the other car companies is gearing up. Very more challenging future. The also industry is anticipating some major technological disruption to its business, but as part of planning for that Michelle Krebs had also try to says companies have to keep doing what that doing. I don't make your absolutely cannot take their eyes off the ball of today's business because that is what is creating the funding to finance this future, that we don't know, when it's going to happen that future for Ford, which wants to be a mobility company means getting into all sorts of things from bike sharing programs to self-driving robo taxis uncertainty, though, is always haunts plan for says Stephanie Brindley analyst at IHS market. You're saying it in some of the financial results. You're seeing it in different cost-cutting programs at different automakers for it's not alone in trying to balance this at all companies worry that one day, people may choose not to own a vehicle, and just use a map like Uber or lift, which with tens of billions of dollars robo tank sees could hasten that shift even more GM boats and autonomous startup cruise for a reported Hoffa billion tech companies with deep pockets like Google's parents alphabet have their own self driving. I'm visions Sam Vieira ni. Out consultants auto focus solutions says Ford is investing to, I would say they they're doing very good job of it. They're just not promoting it yet, but they are moving forward and looking forward to the next era in the automotive industry, and all it's really clear about that next era is that it's going to need as much money as possible to competion, even if that means cuts today. I'm Jack shoe for marketplace. Morgan Stanley is today's bearer of ill economic tidings in a report out this morning. The banks analysts said that, if the trade war between the United States and China keeps up and the president's threatened tariff increases on more Chinese imports come to pass a global recession is within the realm of possibility. So the question now it seems is whether President Trump's approach to trade negotiations is working as he intended cleared Williams was still not too long ago. A White House trade policy official miss Williams. Thanks for coming on. Thanks. Thanks for having me. So for those who don't follow trade, perhaps as closely as. Well as you and I do gimme the gimme like the thirty second elevator pitch version of President Trump's trade agenda. Sure. Well, what President Trump is trying to do is get his arms around a set of long-standing unfair trade practices. That's been going around and the global community. I think the, the most prominent example of that is what's happening with China. Obviously, he's expressed concerns with, you know, the NAFTA agreement with elements of the World Trade Organization. And I think in general with sort of a lack of equitable treatment when it comes to tariffs around the world, do you think, though that the president's tariff policies are the way to get done what he wants it seems that it's very spur of the moment, shall we say now? Well, I actually think since the president has been in office, what he has tried to do is to take tariff action in many cases as a means of leverage, you know, not all tariffs are created equal, as they say. So I mean I could go through. One by one in China. It's really a means to an end fair enough. And, and look, it's only a half hour program. I appreciate you. You know go through the harmonized tariff schedule. But let me ask you a more fundamental question, and it's going to sound like I'm poking the president in the eye, and I'm really not do you think he understands the way tariff works, because if you look at his public pronouncements his tweets virtually everything he says, about tariffs would seem to indicate he just doesn't understand how they work. It's not the Chinese are paying. It's not that there are billions coming in, in the United States from overseas. It's American consumers who are paying these tariffs and the president discounts that at every turn. I think the tariff question actually is, is somewhat of a complex one. Now, I will be the first to grant you the tariffs do have somewhat of a negative impact on the US Konami and on consumers. They can have an impact on businesses who need to get those, those products from abroad. I mean, I'm not a tariff guy all of that said, you know, who pays the tariff in any particular instance is not as simple as, oh, it's all China or it's all the US consumer. And what we've found is we've analyzed it is that it's really different in, in each instance, I'm sure I don't need to say for the academic research that shows in the section to thirty two and three hundred tariff cases that the president has imposed on the Chinese. It is literally American consumers who were paying sometimes inaccessable one hundred percent of the tariffs and more to the point though. With all respect, you didn't answer the question, does the president understand how tariffs work, I think that he does. And again, I, I, I would paint the three one in the two thirty two with, with different brush. I think when the administration put in place, three thrill one Tara. Chiefs. They were expressly designed to pick products that the US could source from other places and you actually do see some of that happening on steel. I, I would grant you that different situation. And I think that the steel tariffs were more controversial within the administration itself for that reason. I'm not sure exactly when you left the administration must Wilms but, but the last you heard from folks inside the White House. What is your sense of the president's sense of urgency on fixing and, and getting to a deal with the Chinese, and, and does it carry into the twenty twenty campaign cycle farther? I left the White House about a month ago. April nineteenth with my was my last day. I went and actually got to see the president a couple of weeks after that, I think that with respect to China that the president is willing to keep at the current strategy as long as it takes to ensure that China starts playing by the rules. I think if you look what you're hearing from the hill, you see Democrats and Republicans alike, all saying, stay tough on China, make sure you get structural reforms in China where you're getting feedback are things on steel and aluminum and saying, we need to work with the allies more. So, look, I hear ya on what he is hearing from the hill. And from people inside the boat way writ, large, but every single farmer we talked to and virtually every single small business person with truly just one or two exceptions in the last year and a half has said these tariffs are killing us. Right. No. There's no question that there is going to be some pressure from the business community. I've been surprised actually that, that the, the business community for the most part has stayed firm with the president and said, you need to, you need to be tough on China because they're hurting my business. A lot of the pain that the agriculture community has been feeling in the past has been on the retaliation, the restrictions trying to deal with that. But if we can get the commitments from China, and the market access from China, it's going to be a much better situation. Clear Williams, former deputy director for international policy, the National Economic Council, the White House on his way through job in the private sector Williams, thanks very much for your time. I appreciate it, sir. It's my pleasure.
5 former DHS chiefs urge Trump, Congress to fund agency during shutdown
"Brighter year for the company they'll have a freshman lineup. Another changes made in two thousand eighteen management. You know, look backwards little constipated in the product line is but a move from being one of the oldest in average as well. The newest Jim Hackett was on with Paul W Smith Ford posted a small loss in the fourth quarter. But made a lot of money in North America. WJR news at farm bureau insurance we cover Michigan. We insure auto
"jim hackett" Discussed on AP News
"Two twenty eight nineteen giant rocks from space are falling more than they used to. But scientists say there's no reason to worry. A new study finds for the past two hundred ninety million years asteroids have been crashing into earth more than twice as often as they did. In the previous seven hundred million years asteroids, still only hitters every few million years on average and Nastase list of potential big space. Rock crashes shows no pending major threats on. Its impact dangerous scale scientists in Canada the United Kingdom and the United States looked at impact craters on earth and the moon that were larger than twelve miles wide and estimate about two hundred sixty asteroids hit earth in the past two hundred ninety million years. The study appears in the journal science. U n report says the world's thirst for fresh water is causing a salty problem. The study by researchers from Canada, the Netherlands and South Korea on diesel nation plots around the world producing enough Brian waste to swamp an area the size of Florida with a foot of salty water every year, researchers won't that much of the Brian is being dumped untreated into the sea and some is causing harm to see life because of toxic chemicals, the researchers called better Brian management, especially in countries like Saudi Arabia which rely heavily on desalinating. They noted that studies have shown Brian can be used in equa cultures to boost yields of salt, tolerant species of fish and the metals and salts contained in it could be mind. Two of the world's top automakers are teaming up Ford's CEO, Jim Hackett says the partnership with Volkswagen will help the two companies pursue the latest technological advancements companies have signed a memorandum of understanding to investigate. Collaboration on electric vehicles autonomous vehicles, mobility service. And in some ways combinations of all three of those can says they'll begin.
"jim hackett" Discussed on AP News
"Oddsmakers word giving the orange a chance, but as AP's Nick peers reports Syracuse pulls off the stutterer do unranked Syracuse shocks number one Duke at home on Monday night. The orange down the blue devils ninety five to ninety one in overtime. Syracuse got a season high thirty two points from sophomore guard tie-ins battle of feels good. I mean, don't under- dog stuff doesn't really matter us. We we came in here confident. And. Paradores? So we we believe we're gonna win any game when we walk in. Meanwhile, the Syracuse defense L Duke to just twenty one percent on the night from three the win is Syracuse is I over a top ranked team since twenty thirteen Duke Zion. Williamson lead all scores with career high thirty five blue devil starting guard. Trae Jones left the game early when he suffered a shoulder injury. The loss for Duke snaps. It's nine game winning streak, Nick Pearce Durham, North Carolina. Net. Flicks is raising its rates with a thirteen to eighteen percent increase the largest since the company I launched twelve years ago. It's most popular plan will see the largest hike. Thirteen dollars a month up from eleven. Netflix says the extra cash will help pay for its huge investment in original shows and films and finance the heavy dead. It's soon to ward off rivals like, Amazon, Disney and AT and T. This is the fourth time. Netflix has raised at US prices. The last hike coming in late twenty seventeen but it's the first time higher prices will hit all fifty eight million US subscribers. The new prices will immediately affect all new subscribers then enroll out to existing customers during the next three months. Two of the world's top automakers are teaming up Ford's CEO, Jim Hackett says the partnership with Volkswagen will help the two companies pursue the latest technological advancements companies have signed a memorandum of understanding to investigate collaboration on electric vehicles autonomous vehicles, mobility service, and in some ways combinations of all three of.
"jim hackett" Discussed on 860AM The Answer
"Six the United States top diplomat secretary of state, Mike Pompeo says his recent discussions with Saudi officials about human rights were open and direct. We hear the latest from the media lines Michael freed reporting from Jerusalem, still seeking political cover in the murder of Jamal kashogi inside the Saudi consulate in Istanbul. Saudi officials promised visiting US secretary of state Mike Pompeo that everyone involved would be brought to Justice five have already been sentenced to death responding to intense criticism of the Trump administration for failing to take action against the Saudis for the killing the secretary told reporters that he raised human rights issues with the kingdom's leaders and that the United States was not satisfied with Saudi efforts in a number of areas, including its crackdown on dissidents and the jailing and rumored torture of women's rights activists. I'm Michael Friedman, townhall news, Jerusalem, news and analysis at the media line dot org and townhall dot com. I'm Keith Peters in Washington. Volkswagen and Ford say they are forming a global alliance in which they'll together develop commercial, vans and medium sized pickups. Also, explore broader cooperation on battery powered and autonomous vehicles. Ford. Ceo, Jim Hackett says traditional automakers are facing profound changes in the market place. We started to see that there were competitors and entities were outside our industry that as well are interested in our markets. So with great enthusiasm that we're announcing the first formal agreement between Volkswagen and Ford to form what we're calling a global alliance. Volkswagen CEO Herbert dis and Ford CEO, Jim Hackett, say the first jointly developed vehicles could hit the market as early as twenty twenty two. And that the link-up would offer efficiencies that would being stronger profits starting in twenty twenty three four will engineer and.
"jim hackett" Discussed on WNYC 93.9 FM
"Ford. Ceo Jim Hackett was visiting New York in late September when we sat down with him in our studio. Okay. So the late Gerald Ford, the thirty eighth president United States was great athlete and played center on the Michigan football team. And an all American all American MVP of the team. They went to national championships. You also played center for Michigan and are now the president of Ford tell me that's just a coincidence. That's hard, isn't it? I that sounds like conspiracy in you know, there's a history there quickly with president Ford because he was sitting in office when I played at Michigan. He loved the team. So he landed Marine One on the practice field came and talked to the team went to training table with us. X years later when I'm running steelcase in west Michigan. There happens to be a portrait of that evening. Someone brings it in. And it's he and I sitting together. And so I became very close to him after he was president would talk to him. Often always before the highest state game would call him in the one Ford store. I love to tell is that when he was negotiating arms agreements with Brezhnev in Helsinki. They stop the negotiations. So he can find out what the score the Michigan state games. Okay. So this is a parallel out of nowhere. But I think it's appropriate. One of the reasons that football's become dangerous on some dimensions and less on others. The helmet was invented to prevent skull fracture. And it's done a great job at that. Unfortunately, the helmet is such a good protector that it began to be used as a weapon interestingly with auto travel cars have gotten so much safer over the generations highways have gotten safer, etc. I don't know if drivers have gotten any better that's hard to prove. And yet they're still last numbers. I saw somewhere in the neighborhood of thirty five thousand traffic deaths a year in the US more than a million a year globally. You know, it's funny when you talk to people people are worried about terrorism, they're worried about murder, but if you ask people how many people they know been connected with one of those things very few have whereas auto fatality. We all know. So I'm curious your you've taken over Ford Motor Company fairly recently. And this is a way of transportation that totally changed the way that we live our lives in many, positive ways and some negative ways. So what I'd like to ask you is considered for just a moment. All the positives of auto traveled to date and all the negatives. And kind of where you see the industry at the moment. And what are the big problems? Are what are the big challenges to address where only with you what I make a connection of football with that question. But like what happened in football? If we studied the mass of the players over that period massif was force rate. So the size of the players, and you're wise observation that they could move faster and not knock themselves out cause the brain. To take one hundred percent of the of shock. So all the design now in the future is about trying to push that outwards and then change the techniques mass found its way and automobiles too. So the earliest ones nineteen o three hundred and fifteen years forty is. Henry worked on a electric vehicle with Thomas, Edison. He was a former Edison's factory and the early models are really liked very small because they're trying to use bicycle components and things like that. And then as we've seen history as the mask gets bigger mass production allows stamping tools to take really large sheets of metal and for a fraction of the cost of you had to do this by hand, you get to have them wrapped around those skeletal structures. What's cool about its evolution? Is that the drive to get the vehicle more fuel-efficient means we gotta get rid of all that weight in trying to do that we actually are making the structures safer for crashes. And then, of course, this isn't a reach prediction, but we won't have crashes in the future because of autonomous vehicles in software and sensing and a third thing we'll talk about which is the cloud the system that's mediating the interactions of these objects. We have in computing. There's packets that move really quickly. It's an atomic level. They could run into each other and do harm. But they're mediated in a way at the speed of light. So we can do this with the design of transportation. At the two thousand eighteen Consumer Electronics Show were CAS Hackett and other Ford executives unveiled several components of what it calls the living street and Ford's vision of a transportation operating system. Now the power of artificial intelligence. The rise of certain autonomous vehicles. They're all going to be connected for the first time in this century. We have a mobility technology that just won't incrementally improve the old system, but it can completely disrupted. So a total redesign of the surface transportation system with humans and community at the center, but he began.
"jim hackett" Discussed on Freakonomics
"Ford. Ceo Jim Hackett was visiting New York in late September when we sat down with him in our studio. Okay. So the late Gerald Ford, the thirty eighth president United States was great athlete and played center on the Michigan football team. And an all American all American MVP of the team. They went to national championships. You also played center for Michigan and are now the president of Ford tell me that's just a coincidence. Come that's hard. Isn't it? I that sounds like conspiracy. And you know, there's a history there quickly with president Ford because he was sitting in office when I played at Michigan. He loved the team. So he landed Marine One on the practice field came and talked to the team went to training table with us X years later when I'm running the okay in west Michigan. There happens to be a portrait of that evening. Someone brings it in. And it's he and I sitting together. And so I became very close to him after he was president would talk to him often always before the highest state game would call him and the one Ford store, I love to tell is that when he was negotiating arms agreements with Brezhnev in Helsinki. They stop the negotiations. So he can find out what the score in Michigan. Hi state games. Okay. So this is a parallel out of nowhere. But I think it's appropriate. One of the reasons that football's become dangerous on some dimensions and less on others. The helmet was invented to prevent skull fracture. And it's done a great job at that. Unfortunately, the helmet is such a good protector that it began to be used as a.
"jim hackett" Discussed on Freakonomics
"And yet he is. I'm Jim Hackett, president CEO of Ford Motor Company. I have to ask how do you get to our studio today Lincoln navigator, when's the last time you wrote in a vehicle that wasn't made by Ford Motor Company. Probably a year before I was CEO. I actually had three other vehicles in my garage when I was on the board. And I got rid of all of heck it became CEO Ford in may two thousand seventeen but we begin with a big shakeup at Ford. Mark Fields is out in Jim Hackett is in. I mean, look, let's face it. Jim Hackett wasn't on anybody's radar. When it came to all the motive succession here at Ford. One reason Jim Hackett wasn't on anyone's radar is that he is not what they call a car guy in Detroit. The world is pretty much divided into car guys and everybody else Hackett is a sixty three year old high. Oh native who started out in sales and management at Procter and gamble then worked for many years at the Michigan furniture. Companies steelcase including nineteen years as CEO. And after that, he was interim athletic director at the university of Michigan is alma mater where he hired the football coach Jim Harbaugh. He did join the board of directors of Ford in twenty thirteen while he was still at steelcase. But like we said not an obvious candidate for CEO of one of America's big three automakers. However, as it is often said desperate times call for desperate measures and the old line auto industry. Definitely has an air of desperation about it. Consider the challenges decades, the foreign competition, the rise of rideshare services and autonomous vehicles environmental concerns and the rise of electric vehicles, especially the ones made by tesla. The rise of urbanization with all that bothersome walking and biking and public transportation the steep decline in car ownership among young people specific. Early and more. Generally, the fact that we seem to have passed peak motorization as one transportation scholar puts it so. Yeah, welcome to the Ford Motor Company, Jim Hackett. Most CEO's we've interviewed for our secret. Life of a CEO series told us about their challenges and dramatic turnaround efforts long after the fact like ingenuity of PepsiCo the few months after I became CEO. There was a financial collapse know, the retail environment changed the US market slowed down. So one hundred learn in a hurry how to run this company through extreme Peters of adversity. And there's no book you can read, but Jim Hackett and Ford aren't reminiscing about tough times there in the middle of it right now. What's wrong with Ford? What's going on in Dearborn? We're now learning more from analysts who believed the turnaround is going to get very painful. They did close under nine dollars a share for the first time in six years. What's going on with Ford? What's going on is a lot? Heck it recently announced a huge restructuring plan hoping to cut twenty five billion dollars in costs. This includes a lot of layoffs and a realignment of how does business in Europe, South America, China. Heck it also announced that Ford will cut way back on making cars audios to the fiesta, focus. Fusion and Torres. Ford says it's going to focus on SUV's and trucks. Heck it said at the time that Ford would quote, focus on products and markets where we know how to win what will those products and markets be packet for all his old school credentials has long been enamored with the Silicon Valley growth mindset over the past decade, Ford's research and development spending is nearly doubled in hack. It shows. No sign of slowing it down. This has led one industry analyst to say Ford is. Earning a lot of cash in a lot of places another argued that Hackett will quote, keep bleating buzzwords like fitness and mobility without any real plan to remake the blue oval. It's recently been reported that Ford is considering some sort of merger with VW, the German automaker. That's got its own mountain of troubles. If you had to make a bet on the future afford. Well, the people who do make bets stock market investors leave pretty decisive. They did close under nine dollars a share for the first time is six years. So how does Jim Hackett plan to turn things around it's beyond vehicles to transportation, and and and actually transportation operating system a transportation operating system sounds an awful lot like something. A pure technology company might talk about this leads to several questions can a traditional manufacturing company like Ford, really turn itself into a modern tech company..
"jim hackett" Discussed on WJR 760
"Shares surging yesterday after the automaker reported quarterly earnings and revenue that beat analysts expectations. It's positive news, though, news these days often gets a negative spin guy who keeps his positive attitude. Always is Jim Hackett Ford Motor company's CEO who joins us once again, Jim longtime. No talk to congratulations on the latest figures. Paul W thank you. You know, it's easy to follow you when you're talking about positive, but you know, it was a good quarter in the face of some things going on in the world that made it challenging well. There are a lot of challenges the higher costs you got to difficulties in China. But so does everyone and you have some issues where some things went down economic conditions in Turkey, South America. Russia. And the particularly weak sales in China. But through all of that if I'm not mistaken, you had a one billion dollar profit, which I just don't understand. Okay. I'm venting right now. I just realized I could hear myself vent here. Jim. I know you're not going to say it. I'll say it the double standard that Ford is held to. And tesla is held to is mind boggling to me, they make an announcement. They've made about thirty four cents in profit where I I'm exaggerating. They made their first prophet your company that's made tens of billions of dollars in profit. And yet tesla keeps giving this week kisses from Wall Street. Well, I I have been saying, you know, it's cool to be a company that's just a year old or two years old. It fell out of favor to be company that was over one hundred and fifteen years old, but you know, our people work really hard to to change the story. And what what makes that needle move is good results. And you know, what was exciting about this Paul W was a couple of things warm. I just came from our North American dealer, meaning Las Vegas. We have four thousand dealers there all week. I took most of my management team, we laid out for them kind of where we're going and the story of seventy five percent of the products going to be refreshed by twenty twenty. Let me just say that everyone left very very happy. Are they love the the built Ford proud? We we talked about that earlier in the week with the Joe Henrik about the I guess it might've been Monday or Tuesday, the rollout of this whole new campaign reporting replacing tough. With proud. How are they your first customers are the dealers? How are they responding to the built Ford proud where you know, it's all about timing with ever. I think that that the dealers first of all loved it in Joe was, you know, cutting the ribbon on the new ranger product line here in Michigan. So we were so proud of that day. I was with our people there, you know, what a great story for Michigan. And and and in fact, Ford is a great story not just for Michigan. But the world and in a place where you know, lots of kind of vaporous ideas or celebrating. I mean things you can't put your arms around. And here's a company that builds an F one fifty. Pickup truck every fifty three seconds. And until we did to we're not trying to be boastful. We're just trying to be proud of what we're able to get done. We kind of setting the record straight. Let's face it left. The other guys keep dreaming about the future. You're you're building it right now in that whole idea about born in Detroit made in America famous worldwide, the built Ford proud idea is a good one. I'm I'm proud of you for for living up to what in fact is your legacy here, and you made some very tough decisions. Jim Hackett some that a lot of people said, oh my gosh. What are they doing? What a mistake. But so far putting your money on the trucks, and the SUV's has really paid off in a very big way for you. Yeah. I mean F-series we really can't make enough of them right now. But up, you know, one thing that we stress with the dealers is that the nature of the outline of the vehicle going back to Henry earliest products. You know, we call that the silhouette it's changed. The Ronald p is gone, but the company's doing really well. And so what we showed them is. They're going to have more nameplates in the future than they have now in this silhouette shifting for a higher right vehicle that has more room. And by the way, does not get less less fuel efficiency. So we can have everything they worm. And this is what Ford I think courageously is stepping forward on. In fact, I'm going to suggest to you that you're going to hear more shifts in our industry because this category of the sedans is very difficult to make money. Well, you said earlier Jim Hackett company is going to spend about eleven. Billion dollars on restructuring. You want to improve Ford's, fitness efficiency. If you will how is that going? Well, we we have two tracks. Your warm is fitness is as you might expect is a is a principle of you're making yourself more competitive. It doesn't clued improving your cost structure, so news. This is out there that we are reorganizing a company, I wanna be careful that that doesn't get exaggerated. What we're trying to do is move to a flatter structure. More teams more empowerment, it's kind of a modern way of a things getting done and most of the employees that I talked to her cheering if for can lean out it's 'Eurocracy, but in the same vein fitness also means speeding up delivery of vehicles for our customers. We we we've been testing might is we showed some of this to the dealers they were cheering this. And then a third level. There are markets in the world where the design of the business can be better. Don't think of that. As we have to lead those markets or we have to sell. It's just we have to redesign them because overtime things have changed the footprint. You know, where demand is or the type of vehicles that are being used as change. And so that restructuring number that we put out there was a signal that time nothing happening at at one time. No big thing idea over time. We're going to have to change the design the business, and we wanted them to plan for that. Our folks holding up Jim Hackett Ford Motor company's CEO. The announcement was that there would be reductions to the salaried workforce that always obviously makes people very concerned about their jobs will more information becoming on that relatively soon. How are the people dealing with waiting to find out if they have their job what a great question. And can you imagine I say to myself imagine you have to go home? And tell someone in your family. I don't know what's going on. You know, something might be risk. And then the whole families in this state of fear. That's not at all what we're trying to do matter of fact, Paul W what what's going on is unlike I'm not just picking on Ford. I think corporations in history when they when it happy make themselves more fair to reduce costs. They would just announced he's mass kind of layoffs in. And it was what we would call like mowing the grass, you know, you've just cut every department back. We're not doing that. What we're doing is. We're engaging the people from really from the bottom up to work with the managers and define what work has to be done. This sounds pretty straightforward. But in business you can over time you can lose track what you're working on it doesn't matter anymore. And so we we we're going to get the work cleaned up. And then as a result of that, we know what kinds of teams we be. Now, here's the great news. We've been doing this already kind of McHugh t in North America. We've had teams working daily on the on the way they work in the team structure that they use and you can see in this quarter. It's it's really correlated North America's really firing all cylinders if I could use a bad Perm, and and so the communication there by our head of North America is constant is a town hall regularly that he lets people know what's going on. So we're going to be modeling that as we go forward I have to whine a little bit. You know, CEO's get to warn somebody in the analyst community. Made up a story. You know, what he thought the downsizing needed to be if we were to hit certain numbers in. So he put something out there that really wasn't the real the real news. Well, and we don't need to repeat that what we do need to repeat is that you're spending you've spent about eight hundred fifty million in the Michigan assembly plant to retool the plan to build that all new Ford ranger Joe Henrik's told us all about that's exciting with that ranger production. Starting the fact that you beat Wall Street's estimates on the two fronts in this latest report. So I'm telling you, unfortunately, the good news does not always get accentuated. But we tried to do relentless positive radio here on this program. And you're always a good part of that Jim Hackett, and we wish you and Bill Ford in the whole of UAW Ford team, great success in your in your business. Going from this day forward. And and we just keep watching on the sidelines cheering for you. Jim. Thank you up in, you know, as quickly that blue oval like a big hug around nearly as you do a great job of keeping things at the high level. And the no I'm so proud of our employees in time when the world in challenges like this present themselves, but there's a lot of optimism for our future. I will agree with you, Mr. Hackett. God bless we'll talk to you again soon. Okay. Paul W take care. You do the same. Jim Hackett Ford Motor Company CEO he and Bill Ford. Always they they have the slings and arrows out there. They made a billion dollars profit. And you get a company like tesla that that really made pennies compared to the billions and billions of dollars Ford Motor Company continues to make and it's just a bizarre to watch Wall Street. Imagine how frustrating that would be if that were happening in your business seven forty nine hundred seven sixty we're way behind but that was an important conversation. We had to have and this one is to our WJR sign up on Bailey. And we're riding the brakes on I seventy five this morning, especially through Auburn Hills reported rackets a slow go on south seventy five from.
"jim hackett" Discussed on KZSC 88.1 FM Santa Cruz
"Ceo, Jim Hackett says the Trump administration's tariffs on imported steel and aluminum will cost the company one billion dollars. Hacking told Bloomberg television for gets most of its medals from US producers, which raise prices due to the tariffs this year. Analysts say other automakers will see the same cost increases eventually they'll have to raise prices of vehicles or reduce discounts. The US slap tariffs on imported steel and aluminum from some countries in March and added Canada, Mexico and the European Union in June administration justifying the tariffs by calling foreign steel and aluminum a threat to US national security. President Mahmoud Abbas told the United Nations General assembly today that his people's rights are not up for bargaining Abbass accused the US of undermining the two state solution and said UN general assembly resolution, supporting the Palestinians should be backed up by action. On Wm, we managed to get a resolution from the UN for international protection. Because every day. We. Are. We are attacked and we are incapable of affecting ourselves. Okay. A resolution was passed, but who will implement this resolution and a very honestly it's insufficient for the general assembly to pass a resolution that remains without implementation. Exactly. Like other resolutions. Abbass halted ties with the Trump administration in December. After the US recognize Jerusalem is Israel's capital, Palestinian subset. A pending US peace plan will be dead on arrival because of that and other recent US moves favouring, Israel Abbass told the general assembly Jerusalem is not for sale in his speech at the UN general assembly. Israeli Prime Minister Benjamin Netanyahu accused European nations of appeasing Iran by trying to renew trade despite Iran's nuclear activity. He presented maps and photos of what he says is a secret atomic warehouse in Tehran concealed as the rug cleaning operation, the International Atomic Energy agency has certified twelve times that Iran is in compliance with its obligations under the international Iran nuclear deal. President Trump withdrew the US from that deal. Silicon valley's Representative democrat ro Khanna has introduced a resolution to end US military involvement in Yemen. The resolution invokes the War Powers Act of nineteen Seventy-three and directs the president to remove armed forces from hostilities in Yemen unless authorized under the two thousand and one use of military force or a declaration of war, which congress must approve peace advocates hailed the resolution, which has nearly two dozen co-sponsors Medea Benjamin with code pink said, quote, if the US withdraws its support for the Saudi led bombing an ago, she aided settlement is sure to follow unquote. Get taxed on Yemen between Saudi led coalition and Iranian-backed who these has led to what the United Nations describes as a humanitarian crisis with millions suffering from starvation and malnourishment Washington democrat Representative Adam Smith, a ranking member of the House Armed Services committee and co sponsor of the resolution wrote on Twitter. Yemen is facing the worst humanitarian crisis in the world right now that has been significantly exacerbated by civil war. The US should be aggressively pushing a peaceful solution to end the civil war instead of supporting the Saudi led coalition military campaign that has only destabilize the crisis further unquote things have slowed down here. We are in the final three minutes of this newscast..
"jim hackett" Discussed on WBZ NewsRadio 1030
"Stories now attorneys for Christine blowzy foretell the Senate Judiciary committee there representing her for free. Ford had accused has accused supreme court nominee Brad Kavanagh of sexual assault. When they were both in high school that testimony is expected to resume at three o'clock Blasi Ford is done. We're expecting to hear now from Brett Cavanaugh himself. Governor Charlie Baker is tweeting the accusations against Kevin are quote sickening and deserve an independent investigation. The governor thinks the Senate should delay the vote on the cavenaugh nomination until the investigation is complete. Bristol County is on alert after reports of a man trying to lure kids into his car. Police have been posted at schools in north Attleboro and rent them. On Wall Street, the Dow is up about ninety points, the s&p five hundred up twelve the NASDAQ up forty three. WBZ news time to forty nine. Boston wins the latest round in the battle over the Long Island bridge last week, the Massachusetts environmental Policy Act office ruled that the environmental scope of the project to rebuild the bridge was similar enough to the demolition. So it didn't need an additional environmental review could've taken up to a year to complete the decision isn't sitting well with Quincy officials, including mayor Thomas coke who says the fight isn't over they plan to appeal the decision a year after tropical storm Harvey caused massive flooding around Houston. The city is dealing with an unpleasant reminder rats, the city of two and a half million people. It's impossible to know how many rats and mice are living. But anecdotally says exterminator Raleigh Jenkins since Harvey. There has been a huge population increase rodents that were normally nesting in certain areas up and moved into addicts. He says rat proofing a house means covering Vincent plugging holes a rat. Or a mouse needs a space only as big as the diameter of a Nick. To get in. Jim Ryan ABC news. Dallas WBZ news time to fifty American companies are warning that the latest round of Trump administration tariffs on imported goods will result in consumers having to dig deeper into their pockets CEO, Jim Hackett says tariffs on imported steel and aluminum or costing the automaker. A billion dollars, and we'll make American made cars in general more expensive. Walmart says you can expect more expensive car seats. Cribs backpacks even pet products and bicycles Procter and gamble. Coca Cola say their prices could rise to even fed chair. Jerome Powell says his agency is getting an earful president. Trump says he expects no negative impact on the US economy. Peter King CBS news. Amazon is opening a new store in New York City, and has John Jeffreys reports sits for the cream of the crop. It's called Amazon four-star.
Ford CEO Says Trump Metals Tariffs Took $1 Billion of Profit
"President Trump at the United Nations this weekend continued to defend his trade policies, including tariffs. Walmart Procter and gamble and a few other major companies have been warning the tariffs on US imports are raising their costs, and as a result raising their prices and USA radio's Wendy king tells us of another company for CEO Jim Hackett says the Trump administration's tariffs on imported steel. And aluminum will cost the company a billion dollars could told Bloomberg television that Ford gets most of its medals from US producers that have raised prices due to the terrorists in post by the Trump administration. This year Hackett says they have the most hourly employees in the US, and they build more vehicles here than any other
Trump metals tariffs will cost Ford $1 billion in profits, CEO says
"Economy is doing well enough that the fed felt comfortable enough today to raise the short-term interest rate it controls and other. Quarter percent to two and a quarter percent share pal. Two questions for about an hour somewhere. Ted weedy, some more newsy on the impact of trade and tariffs. For instance. I from the chairman came the disclaimer, so I guess I need to start by saying that we're not responsible for trade policy, and we don't comment on particular trade actions, and that sort of thing, and then came the, but we've been hearing a rising chorus of concerns from businesses all over the country about disruption of supply chains materials cost increases, and and and loss of markets and things like that. Which in that way that the global economy goes gets us through the corporate story of the day led by this piece of audio from Jim Hackett, he's the CEO of the Ford Motor Company. Speaking today at a Bloomberg event. From Ford's perspective, the metals tariffs. Took about a billion dollars of profit from us, which the irony is we source most of that in the US today. Anyways, the metal tariffs, of course, are the Trump administration steel and aluminum tariffs that got this whole import tax ball rolling this past spring, the interesting bit of what hack it said is that this is where the tariff story veers firmly into the that is the way they're supposed to work lane marketplaces run out of sago has that one when the Trump administration's laughed at twenty five percent tariff on steel shipped to the US in June. The idea was we raise the price of foreign steel, and that will force companies that need the raw material to buy domestic instead John Zarrella runs. The trade group global automakers he says, we forgot one thing about tariffs. US steel producers because they're protected now from foreign competition have raised their prices almost to the same level of the tariffs. Domestic steel companies are seeing a boost to their bottom lines. One of the biggest. I US steel projects record revenue growth by the end of this year, but a much larger group is losing out American and foreign companies that manufacture in the US and firms that export goods from this country. But our exports to other countries around the world have now gotten more expensive because other countries are retaliating by imposing tariffs of their own on goods exported from the US automakers face some stiff headwinds right now car sales are down just as they say they need to maximize profits to pay for newer, safer cars and compete technologically. At Cam as vice president of industry at the research firm auto Pacific, whether you're whether you're right or Honda. This is bad news. No matter who you are. He says many car companies are eating up the higher steel prices for now. But pretty soon he says they'll hit consumers to
"jim hackett" Discussed on WSJ What's News
"The office furniture industry also needs to change to adapt to kind of new ways of doing things. And so when he was at steelcase, that is something that he really initiated, he kind of tried to look out at what you know the office space of the future might look like and try to adjust the product line to accommodate that. So you know when Bill Ford. Owes him. He had that in mind. I mean, Bill for really sees the industry is going through this period of disruption and needing to adapt and changing that culture internally is very difficult. So one thing that he did see an investor Hackett is that he, he did that steelcase, and he was hoping that you know he will do this again at Ford. So the big question is, are the changes he's made working? How is Ford faring recently? Well, I think right now we're seeing very mixed results. I mean, you know, on the one hand, I think, you know, and we've heard this from his senior leadership team that they're really starting to understand as approach and adjusted his way of thinking. And I'm not even talking to them, they're starting to use his terminology. And so I think they feel like there's some momentum there, but it's still really unclear to the market. It's unclear tone lot of folks internally. And also analysts investors continue to press the CEO for more clarity on his vision. He's within the first year. He's taken some bold steps. You know, he's killed off some of these unprofitable sedan lines and he's pushed for bigger investment in electric cars and Thomas vehicles. But still, you know, we hear a lot from Lewis is that like there's big numbers being thrown out, but not a lot of detail around them. And so in a way, you know that is kind of contributing to the confusion or the lack of understanding about where this company is going. What challenges lie ahead for Ford under hack? It's leadership. Well, I, I mean, if you look on a purely financial basis, the company prophets are weakening its losses overseas or mounting. You know, especially in China, China has been for a long time has been. Gross story for a lot of automaker is in fort is having a lot of trouble there. And even, you know, in Europe is well, that region went from making a profit announced during to lose money and the stock the stock price has recently hit a five year low after they reported a weaker than expected second quarter earnings in lowered their guidance. So in terms of their financial performance, there is a lot of work to be done there. And then that's just the now. Ford is still catching up with its competitors on advanced technologies like electric cars and a ton of vehicles and all that cost a lot of money. So there you know, at a time when the US market is weakening, their profits are slipping. They're also going to have to be spending a huge amount of capital to catch up on Vance technologies. So he has a pretty long a list of challenges. To tackle it certainly sounds like it that's Wall Street Journal. Auto bureau, chief Christina Rogers joining us via Skype from Detroit. Thank you so much, Christina. Thank you for having me, and that's what's news. I'm Anne Marie for totally in New York for the Wall Street Journal. Enjoy the what's news podcast. Then try the what's news newsletter. Sign up at w. s. j. dot com slash newsletters that's WSJ dot com. Slash newsletters..
"jim hackett" Discussed on WSJ What's News
"The man at the helm is Jim Hackett current and former employees interviewed by the Wall Street Journal. Say he's a cerebral thinker, but some are struggling to understand his vision, including investors. Joining me now via Skype from Detroit is the Wall Street Journal's auto bureau, chief, Christina Rogers, Christina. You profiled Hackett for the journal recently and employers really have varied opinions about his leadership style. I wanna play a clip from video interview. The journal did with Hackett back twenty sixteen before he became CEO. That may offer some insight. What's the best way to run a meeting. To have a mixture of being on time and having open discussion. The biggest disruption in your workday as. So Christina, you spoke to employees who say, he's certainly changed the culture at Ford. How did they describe his leadership style as a CEO? First of all, he comes from a very different background in the car industry. He spent two decades running steel cage which is a maker of office furniture. So he comes from a design background. So to start, he goes about, you know, thinking through problems very differently Princeton's he's introduced kind of new methodologies such as process called design thinking that has engineers and executives looking to problem solve by looking at it from a customer's point of view rather than you know, trying to hit sales targets or profit targets, and he's very much like I, I've heard this number of times he's an abstract thinker. He's a visual thinker. You know, he likes to articulate his ideas by kind of drying out diagrams. He's. Often kind of referencing thought leaders in different industries. So I mean, mostly what he's trying to do here is to kind of get this company which has operated one way for more than a century to be more open minded to think differently about how they solve problems and approached the market. He was brought in as CEO in may of twenty seventeen actually selected by Bill Ford, junior, the great grandson of the company's founder to lead a turnaround at the company. He was a bit of a surprise pick as you right. Having formerly worked as CEO of an office furniture maker. Again, I wanna play brief clip from that 2016 interview. What's the one thing selling office furniture has in common with selling cars. Great. Christina. What about hack? It's background made for junior, see him as the right pick for the job and what changes has he spearheaded so far since becoming Ford CEO? Well, I think one thing that he did at steelcase. I mean case like Ford at the time was you know, an old line manufacturer very much saw things is kind of making products and selling those two customer. And what hack it came in and saw is that you know, look the way people work specially with technology with laptops and being more mobile is changing, and therefore.
"jim hackett" Discussed on WSJ What's News
"This is Anne-Marie for totally and New York in a little over a year at the helm of Ford CEO. Jim Hackett has made some big changes, but many say his cerebral style can be confusing analysts. Investors continue to press the CEO for more clarity on his vision, Wall Street Journal, auto bureau, chief Christina Rogers joins us with more on that vision and whether it's working in just a moment. First, these news headlines jurors will decide the fate of former Trump campaign manager. Paul Manafort. On trial for tax and Bank fraud. Lawyers delivered closing arguments on Wednesday with prosecutors calling Manafort Aligarh who cheated the government. The defense said prosecutors cherry picked innocent mistakes, and failed to prove their case beyond a reasonable doubt. Tesla has been subpoenaed by the securities and Exchange Commission over tweets from chief executive. Elon Musk saying he'd secured funding to take tesla private. That's according to a source who spoke with the Wall Street Journal for the latest on this story head to our website wsj.com or the WSJ app. Former CIA director, John Brennan a critic of the president has had his security, clearance revoked, White House, press secretary. Sarah Huckabee. Sanders cited erotic conduct. She said security, clearances of other former White House officials are also under review. Uber's revenue, jumped sixty three percent in the second quarter with demand for its ride and delivery services rising forty-one percent..
Cannabis’ Midwest Breakthrough: Michigan To Vote On Legalization In November
"To reports you might be able to get the vote on legalizing marijuana the state elections board has approved petitions to legalize marijuana in michigan the pot group brought in enough signatures on petitions the group says there would be age restrictions limitations and where you could use marijuana and how much you could carry the state legislature now can write its own law legalizing pot or put a competing issue on the ballot the reefer group says that if recreational marijuana is allowed sales in michigan would exceed one billion dollars a year it would be taxed at ten percent plus the existing six percent sales tax dick hafner wjr news paintball fights organized on social media leaving dozens of cars and people splattered several paintball shooters have been detained by detroit police the organizers say their efforts are meant to persuade people to put down their guns and use paint balls instead a big paintball fight was broken up the other night police say paintball shootings could result in accidental bullets shooting people may see these incidents occurring and they don't know that these are paintball guns because a lot of them look like assault rifles ar fifteen type rifles so you need to do this an area that's made for paintball ward ford made one point seven billion dollars in the first quarter of the year but that's not the major news coming out of the company ford's dropping some well known cars for it says it's going to stop producing the fiesta focus fusion and the taurus the only passenger cars in the future will be mustang and the focus active crossover ford ceo jim hackett telling paul w smith today we have to make these changes in order to be able to find a large new portfolio vehicles that we've announced so we're going to have the freshest lineup in the next two years in the whole industry and we're bringing on sick teen battery electric vehicles around the world and ford sedans are slow sellers with lower profit margins you chair news time three or four we'll update traffic and weather next this report is do you.
Ford recalls 1.4 million cars because of steering wheel
"Failure to properly affixed steering wheels has triggered a recall of not a couple but one point three eight million ford and lincoln cars ford motor said today that is issuing a safety recall for the two thousand fourteen to two thousand eighteen year ford fusion and lincoln m casey since they have discovered officials sat there are potentially loose steering wheel bolts that could result in a steering wheel detaching from the steering column now when that happens are we able to actually move the stick ourselves i wouldn't trust that i could do the fine movements i can't do what the handle they say this recall according to usa today already adds to ford's bouncing quality issues the company has recently been bedevilled by a separate cascade of door latch recalls now several million vehicles the cost of where the six hundred million quality the quality failures underscored the challenges facing new ceo jim hackett he must get the company's president business on track while charting the course for an expensive future defined by electric cars and self driving vehicles so having a recall of one point three million vehicles how is that going to give consumer confidence in their self driving vehicle line four dealers are gonna fix these cars for free customers.
"jim hackett" Discussed on KOMO
"Your insurance may not cover it if you do have our problem with fire firing your how in your house or yard the only fireworks wear their legal and may even consider leaving it to the pros this year instead of having your own fireworks show most of the country or most of the states in the in the country uh leave this to the pros there are still seats were fireworks or legal in its of course up to certain cities jurisdictions as well but that doesn't make them any less patriotic i think they're just trying to make sure they let the pros at all this job right that's it so you find out what's legal that you're going to have them on your own as you head sometimes the the regulations are different in cities and counties uh where you may live to be sure that you know the rules and you know again be very safe if you are using the thing thing caused an accident caused the fire again remember that your insurance may not cover it and if you do have let's say somebody else's firework damage your property that certainly something that would be covered by your own home owners insurance or even your renters insurance if you're a you're renting property in it ended up getting damage so just a lot of potential damage here i think about our health or safety of our vehicles in our homes and our property i remember that this is a time of year that we want to be joyous and have a fun celebration and not have to worry about any type of damage or insurance clients leave it to the pros all right laura thanks to watch out before the july delights your adams with sure it's quotes dot com couple tuesday night propel insurance business update sodden here is bruce veil with your money down towards new chief executive jim hackett is.