Despite $9B Bailout, Ford Continues Bleeding Billions, Announces Layoffs (VIDEO)

Written by Wes Walker on June 28, 2023

Just two short years ago, Joe Biden hopped in a Ford truck for a photo op, touting the future of electric vehicles. Last year they laid off 3000 people. Now, they are laying off 1000 more.

Federal policies have been explicitly pushing electric vehicle production and penalizing internal combustion in almost every way it could. He has stated that no new gas-powered cars will be sold as of 2035.

A bold plan? Sure. Even if it is totally unworkable. But the government thought it knew best when they tried to get us to adopt those ridiculous spiral light bulbs, didn’t it? Then along came LED bulbs and people voted with their wallets.

[Looks like they never got the memo about ‘not being an ass‘:]

Last week, we learned about how the government is putting its thumb on the scales to help them out!

The US government is lending $9.2 billion to Ford for three battery plants in a sign of the Biden administration’s desire for America to become a leading EV player.

The Department of Energy’s Loan Program Office announced Thursday it was financing the BlueOval SK joint venture involving Ford and South Korean battery manufacturer SK On for one factory in Tennessee and two in Kentucky.

The loan for the factories, which are already under construction, is the biggest handed out to a carmaker since the $80 billion bailout loans of 2009, and is the latest step in the US’s drive for energy security amid rising tension with China. — Business Insider

Nine-point-two Billion in government largesse? How great is that?
Business must be booming… right?

Not exactly.

Ford is set to lay off at least 1,000 employees and contract workers in its latest attempt to alleviate some of the heavy costs of investing in electric vehicles.

The planned job cuts will be focused on the engineering ranks of the business, a company spokesperson confirmed to the Wall Street Journal.

The redundancies will be the latest move in Ford’s cost-cutting spree, after several rounds of global layoffs this year, including a 3,000-person reduction in the U.S last summer.
The company says it is expected to lose $3 billion in operating profit on its EV business this year.

‘Teams that were affected were pulled together yesterday to let them know that there would be actions taken this week’ Ford spokesman T.R. Reid said.

‘Then individual people will be notified today and tomorrow,’ they added. –DailyMail

Will this be a successful retooling of an industry as it pivots from one energy source to another? Or will this lead to another Solyndra situation?

Psalms of War: Prayers That Literally Kick Ass is a collection, from the book of Psalms, regarding how David rolled in prayer. I bet you haven’t heard these read, prayed, or sung in church against our formidable enemies — and therein lies the Church’s problem. We’re not using the spiritual weapons God gave us to waylay the powers of darkness. It might be time to dust them off and offer ‘em up if you’re truly concerned about the state of Christ’s Church and of our nation.

Also included in this book, Psalms of War, are reproductions of the author’s original art from his Biblical Badass Series of oil paintings.

This is a great gift for the prayer warriors. Real. Raw. Relevant.

Sources Cited:
Business Insider
Daily Mail