UAW says it's open to help ailing Ford

[adplusone]

Union could back moves like more buyouts, global alliance, official says.

Brett Clanton / The Detroit News

A top United Auto Workers official said Monday the union is ready to help solve the "crisis" at Ford Motor Co. and would not rule out discussing more buyouts and other cost-cutting moves in order to make the beleaguered automaker more competitive.

The UAW could even support a Ford alliance with a foreign automaker, provided that such a deal has financial benefits for the company and secures U.S. auto jobs, said Bob King, UAW vice president in charge of the union's Ford division, speaking at a conference hosted by investment bank JP Morgan at the Ritz-Carlton Dearborn.

"We wouldn't rule out anything," King said in one of his first public appearances since his election in June. "We're open to whatever helps the company and protects our members."

The comments are the latest signal that the once-combative UAW is showing a greater willingness to cooperate with downsizing domestic automakers in order to ensure their mutual survival.

And they come after a brutal week at Ford, in which the Dearborn automaker said a previously reported loss in the second quarter would double to $254 million and disclosed it had hired a mergers-and-acquisitions expert to explore the possible sale of under-performing brands such as Jaguar.

In recent months, the UAW has agreed to historic mid-contract concessions as part of massive restructuring programs at General Motors Corp. and Ford.

(Story continues at link) http://www.detroitnews.com/apps/pbcs...608080363/1148