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Detroit Three autoworkers could get huge bonuses

For a long time, being a line worker for one of the Detroit Three has meant living with an uncertain future. With the health of American automakers on the rise, though, things are also starting to look up for the men and women building the cars. The latest sign that things aren't bad? Big profit-sharing checks.
According to The Detroit News, Ford, General Motors and Chrysler could end up paying over $800 million to 130,000 workers as part of a profit-sharing plan. According to The News, the economic impact of these profits in Michigan alone could exceed $400 million, besting the NFL's Super Bowl, MLB's All-Star Game and the NHL's Winter Classic for their economic impact.
This is the third straight year the Detroit Three have issued profit-sharing checks to UAW employees, and for many workers, the checks are as close as they'll get to a raise, due to the most recent contract between the union and the manufacturers. On average, employees at GM and Ford receive $1 for every $1 million in North American (not just the US) pre-tax profits. Chrysler, meanwhile, gets a similar deal, although the Auburn Hills-based company calculates profit sharing using 85 percent of the brand's global profits.

Ford recalls 1.48 million F-150s for transmission, plus other models

Weeks after recalling more than 800,000 F-Series pickup trucks for a fire risk, Ford has issued another separate recall for approximately 1.48 million 2011-2013 F-150s for a transmission fault. The six-speed automatics could unexpectedly downshift into first gear without warning. Ford and Lincoln tangentially issued much smaller recalls for the Mustang, Continental, Nautilus, and Navigator. According to Ford, some 2011-2013 model year F-150 pickups with six-speed automatic transmissions could "experience an intermittent loss of the transmission output speed sensor signal to the powertrain control module." This could potentially cause the trucks to temporarily downshift, which could be dangerous if it occurs while driving. Of the 1.48 million affected trucks, 1.26 million are in the U.S. while 221,000 are in Canada. Thus far, Ford knows of five reported accidents involving the issue. To remedy the problem, owners can take their trucks to dealers to update the power control module software. Ford also issued recalls for about 4,350 2019 Mustangs, Lincoln Nautiluses, and Lincoln Navigators in the U.S. and Canada due to a possible fault with the instrument clusters. Although there have been no reports of accidents, Ford says the instrument panel clusters assemblies might be blank or not turn out when the vehicle is started. Additionally, Ford issued a third recall for 28,200 2017-2019 Lincoln Continentals in the U.S. and Canada. Ford says silicon contamination might build up inside the door latch motor, causing it to malfunction. As a result, the door latch might not always fully engage, and the doors could possibly open unexpectedly. Despite no reports of accidents, Ford will remove and replace door latch assemblies on all doors for those affected by the defect. If any of these apply to a vehicle you own, contact Ford to discuss whether it is included in any of these recalls and have the vehicle checked out at a Ford dealership.

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.