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Ford Prepares for Fiscal Cliff
Ford Motor Co. is making a contingency plan for the possibility that the U.S. economy goes off the so-called "fiscal cliff" on Jan. 1, Ford Americas President Mark Fields tells reporters at the Los Angeles auto show.
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Ford Motor Co. is making a contingency plan for the possibility that the U.S. economy goes off the so-called "fiscal cliff" on Jan. 1, Ford Americas President Mark Fields tells reporters at the Los Angeles auto show.
If the Obama administration and Congress fail to reach a balanced-budget agreement by year-end, deep automatic cuts to federal spending could plunge America back into recession, economists warn.
Ford is preparing to reduce domestic production quickly if that happens, according to Fields. He says the company also is ensuring it has adequate liquidity to cover operating expenses if sales fall sharply.
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