Ford - UAW contract Settled

It's not the car industry we once knew. I'm glad to see the contract settled between Ford and the UAW without a strike. Nothing would have been gained by a strike. The UAW sucked all they could out of Ford. Being in the weakest financial state of the big 3 auto makers, Ford is doing good to keep plants running and being productive. I remember a few years ago the analysts saying the biggest thing Ford had going is their large cash reserves. Not the case today, I recently read that they've acquired such extensive debt that even the world famous "Blue Oval" logo is in hock now.

I worry about how secure the trust fund for UAW retiree health care will be. In theory it's a good plan, but I've also seen other union managed programs end up in corruption and financial crises.

For those that opted to ride out the storm with Ford, good luck to you. My only advise is don't put all your eggs in one basket. Save money for emergencies. Acquire new marketable skills in case your job goes down the tubes.

Ten months ago I took a buy out retirement which involved giving up my Ford health care benefit. I was fortunate to have health care from another source that allowed me to do it. I have no regrets. I miss the people I worked with, but not the rat race at the plant.