Ford in UAW Talks…

DETROIT (Reuters) - Ford Motor Co is in talks with the United Auto Workers and would expect similar concessions to any the union agrees upon with General Motors Corp and Chrysler LLC, a top executive said on Monday.

“At the end of the day, however you mix it, we have to be just as competitive,” Mark Fields, Ford President of the Americas, told reporters at the Detroit auto show.

The U.S. government announced a $17.4 billion federal bailout in the form of emergency loans for GM and Chrysler — controlled by private equity firm Cerberus Capital Management LP CBS.UL — in late December.

U.S. auto sales dropped 18 percent in 2008, pushing both GM and Chrysler to the brink of collapse.

Ford has not sought federal loans, but is asking for a $9 billion credit line it could tap if conditions worsen.

SOURCE: REUTERS.COM

Tags: bailout, car, Detroit, Ford, Michigan, united auto workers

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