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Ford shares falling on news of lower-than-expected profits next year

Ford has released projections for its 2013 profits, along with predictions of its 2014 earnings, and the news has forced the company's stock to stumble, falling over seven percent as of this writing. The Blue Oval is expecting earnings of $8.34 billion for 2013, although the bulk of that is coming largely from its North American operations, as troubles abroad continue to take a toll.
Calling 2013 an "outstanding" year, Ford expects its revenue to be up about 10 percent, thanks to gains in market share everywhere but Europe. But it's 2014 predictions that are causing stock prices to fall, as the Dearborn-based manufacturer expects pre-tax profits to fall to $7 to $8 billion, because of troubles in both Europe and South America, according to a report from Reuters. This is despite an expansion plan that will see it open an additional factory in the southern hemisphere, as well as two plants in China, all in a bid to launch 23 new or refreshed products next year.
The issues in South America aren't so much related to a fall in sales - Ford expects improved profits in Brazil and Argentina - but because of currency devaluations in Venezuela that are projected to cost it around $350 million. While that would still allow it to break even with 2013, Ford cites continued economic risks that could push losses even higher.

Ford worker files for UAW dues refund, stirs right-to-work debate

Let's start with some history: Ford's Dearborn truck plant, part of the company's massive River Rouge complex, was the center of a strike in 1941 that led to Ford signing the first "closed shop" agreement in the industry. The agreement obliged every worker at the plant to be a dues-paying member of the United Auto Workers. In December 2012, however, Michigan Governor Rick Snyder signed legislation making Michigan a right-to-work state, which outlawed closed shops. The new law gave workers the right to opt out of union membership and stop paying dues even if they were still covered by union activities like collective bargaining. For employees at the Dearborn plant, the right-to-work clauses take effect at the end of their current contract in 2015.
As a tool-and-die maker at Ford's Dearborn plant for 16 years, Todd Lemire pays dues to the UAW - about two hours' salary per month. However, he's been unhappy with the UAW's support of the Democratic party, and not wanting to wait until next year to be out of the UAW entirely he invoked his Beck Rights, which state that a non-member of a union does not have to pay dues to support non-core activities, such as political spending. But Lemire wasn't happy that Ford still subtracted the total amount of dues, with the UAW reimbursing the difference, so he filed suit with the National Labor Relations Board, feeling that the workaround violates his rights.
Lemire's case is just a week old, so it could be a while before a resolution. Yet, as September 15, 2015 draws near and the right-to-work laws take full effect for Michigan workers - and others wonder whether it could help revitalize the state's manufacturing base - a case like this adds more fuel to the discussion.

Ford F-250 boots Cadillac Escalade from atop thieves' most-wanted list

The Ford F-Series has been America's best-selling truck for decades, but along with the good comes the bad, apparently. In addition to being popular with consumers, the Highway Loss Data Institute notes that the F-Series Super Duty has risen in popularity among thieves. Based on its new study, the four-wheel drive crew cab F-250 Super Duty has topped the list for the country's highest rate of insurance theft claims, knocking the Cadillac Escalade from the top spot - a distinction the luxury SUV has held since this annual report was first established in 2003.
To reach its findings, HLDI looks at theft data from the previous three model years (in this case 2010-2012) to determine the frequency of claims for a particular make and mode,l as well as the average payment per claim. As the report points out, the claims aren't always for the theft of the entire vehicle - they can include components (say, wheels and tires) or property taken from the vehicle. At seven claims per 1,000 insured vehicles, the F-250 is six times more likely to suffer a theft claim than the average vehicle.
The Cadillac likely dropped from the top of the list to sixth due to additional theft-prevention features including a steering wheel lock and inclination sensor for the alarm, but GM's other fullsize trucks and SUVs still occupy eight of the list's 10 spots. Some of the least stolen vehicles with below-average loss payments include the Lexus HS250h, Hyundai Tucson, Honda CR-V and Dodge Journey. Head on over to the HLDI's website for the full list that shows the most and least popular vehicles among thieves from 2010 through 2012.