Latest news with #JimFarley
Yahoo
2 hours ago
- Business
- Yahoo
Ford CEO Found Young People Didn't Want to Work There Because $17 Wages Left Them 'So Stressed' - Then He Made An Expensive Change 'The Country Needs'
Turns out, a $17-an-hour paycheck doesn't go as far as it used to—especially if you're young, exhausted, and juggling two jobs just to survive. Ford (NYSE:F) CEO Jim Farley heard this loud and clear from his own factory floors. And instead of shrugging it off or blaming "kids these days," he made a move that echoed the bold playbook of Henry Ford himself—one that he says America desperately needs more of. In a June interview at the Aspen Ideas Festival with Walter Isaacson—the renowned biographer best known for his books on Steve Jobs, Leonardo da Vinci, and Elon Musk—Farley peeled back the curtain on what younger workers were really telling him about life on a $17 wage. Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics—now it's your turn to $100k+ in investable assets? – no cost, no obligation. "The older workers who'd been at the company said, 'None of the young people want to work here. Jim, you pay $17 an hour, and they are so stressed,'" Farley recalled. "They've got to work at Amazon for eight hours, then they come over to Ford for seven hours, and then they sleep for three or four hours—and then they go back. And they're barely getting by." Rather than issue a tone-deaf memo or wait for another generation to settle for less, Farley made a decisive, expensive change: he converted every temporary worker into a full-time employee. "It wasn't easy to do," he admitted. "It was expensive. But I think that's the kind of changes we need to make in our country." Farley's move isn't just about better paychecks—it's about reviving an old-school idea that once turned Ford into a powerhouse: when you pay workers well, they can afford the products they help build. Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Quoting the legendary Henry Ford, Farley said, "'I'm doing this because I want my factory worker to buy my cars. If they make enough money, they'll buy my own product.'" Then he added, "It's a self-fulfilling prophecy, in a way." In 1914, Henry Ford famously raised factory wages to $5 a day—nearly double the going rate. It wasn't a random act of generosity. It was a smart bet that higher wages would lead to a more stable, productive workforce and—bonus—more people who could afford to drive off in a Model T. According to Farley, it worked then, and it can work now. He also pointed to deeper structural issues. For Farley, the wage issue is just one layer of a bigger challenge: the U.S. hasn't kept up in preparing young people for careers in skilled trades. "Our governments have to get really serious about investing in trade schools and skilled trades," Farley said. "You go to Germany—every one of our factory workers has an apprentice starting in junior high school. Every one of those jobs has a person behind it for eight years that is trained."Farley's big bet may not please Wall Street, but it's not aimed at them. "We decided as a company that a cooler problem than full autonomy in an urban setting was high-speed, eyes-off driving on highways—push a button, read a book," he told Isaacson, in reference to how Ford picks its battles. When it comes to labor, he's taking that same eyes-on-the-road approach—focusing on people, not just profits. And while turning temps into full-timers might not boost short-term stock prices, Farley's betting on a longer game: one where the people building America's cars can actually afford to drive them. Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? FORD MOTOR (F): Free Stock Analysis Report This article Ford CEO Found Young People Didn't Want to Work There Because $17 Wages Left Them 'So Stressed' - Then He Made An Expensive Change 'The Country Needs' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Solve the daily Crossword
Globe and Mail
3 hours ago
- Automotive
- Globe and Mail
Alicia Boler Davis, Veteran Leader in Autos, Tech, Logistics and Customer Experience, Named President of Ford Pro
Ford Motor Company announced today that Alicia Boler Davis, an accomplished executive with more than 30 years of experience in automotive, technology, and customer experience, has been named president of Ford Pro, effective Oct. 1. She succeeds Andrew Frick, who has served as interim leader of Ford Pro since last year and will continue to lead Ford Blue and Ford Model e. Under Frick's leadership, Ford Pro grew market share in North America and Europe, delivered healthy margins, and started the focus on increasing aftermarket percentage of Pro EBIT through an unmatched ecosystem of vehicles, software, services and parts. He also worked closely with the dealer network as they have invested billions to strengthen their Pro business, especially in service capacity and their mobile service fleet. 'Alicia's unique skillset and experiences make her the ideal leader to guide Ford Pro into the next era – accelerating our move into software and services and growing Ford Pro's already strong profitability,' said Jim Farley, Ford president and CEO. 'She combines deep automotive and technology knowledge with an entrepreneurial and customer-obsessed mindset. Importantly, she builds high-performance teams and fosters a culture of innovation, speed and smart risk-taking.' Davis was most recently CEO of Alto Pharmacy, an online pharmacy that grew revenue to more than $1 billion under her leadership before its acquisition in March. From 2019 to 2024, she served in senior roles at Amazon, joining as vice president of global customer fulfillment and then promoted to senior vice president in 2022. In that role, she guided Amazon's global fulfillment network through the intense challenges of the COVID‑19 pandemic, driving major advances in robotics and technology that kept goods moving for millions of customers around the world. Before Amazon, Davis worked for 25 years at General Motors. She started as a manufacturing engineer and rose through leadership roles in manufacturing, quality and connected customer experience. In her final GM post – as executive vice president of global manufacturing and labor relations, reporting directly to the CEO – she oversaw 22 vehicle launches and managed 150 facilities in 20 countries. Davis, who was born in Detroit and had several family members, including her father and grandfather, who worked at Ford over the years, said the challenge of leading Ford Pro resonated deeply on a personal and professional level. 'I'm thrilled to return to a city and an industry that has meant so much to me, and join an iconic company like Ford,' Davis said. 'In many ways, my experiences and all I have learned in 30-plus years at GM, Amazon and Alto, have led to this opportunity to help Ford Pro reach its potential as an agile, technology-driven growth business that provides a competitive advantage for customers. If I had to create a role in the auto industry that would best utilize my experiences in both automotive and technology, it would be leading Ford Pro at this pivotal time.' Davis serves on the board of directors of JPMorgan Chase & Co. She holds a bachelor's degree in chemical engineering from Northwestern University, a master's degree in engineering science from Rensselaer Polytechnic Institute and an MBA from Indiana University's Kelley School of Business. About Ford Motor Company Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company's Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough EVs along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, Ford is pursuing mobility solutions through Ford Next, and provides financial services through Ford Motor Credit Company. Ford employs about 170,000 people worldwide. More information about the company and its products and services is available at
Yahoo
3 hours ago
- Automotive
- Yahoo
Alicia Boler Davis, Veteran Leader in Autos, Tech, Logistics and Customer Experience, Named President of Ford Pro
Alicia Boler Davis, an accomplished leader with 30+ years of experience in automotive and technology sectors, is named president of Ford Pro, effective Oct. 1, reporting to Ford president and CEO Jim Farley Davis was most recently CEO of Alto Pharmacy, a digital pharmacy which expanded services and built revenue of over $1 billion under her leadership and was successfully acquired in March Prior to that, she was Amazon's SVP of Global Customer Fulfillment, where she had direct oversight of 800,000 employees and was accountable for Amazon's vast network of fulfillment centers, customer service and operations technology during the global pandemic Before Amazon, Alicia spent 25 years at General Motors, where she served in a series of leadership positions across manufacturing, quality, vehicle engineering, and customer and connected experience. Her last role was EVP of Global Manufacturing and Labor Relations DEARBORN, Mich., July 30, 2025--(BUSINESS WIRE)--Ford Motor Company announced today that Alicia Boler Davis, an accomplished executive with more than 30 years of experience in automotive, technology, and customer experience, has been named president of Ford Pro, effective Oct. 1. She succeeds Andrew Frick, who has served as interim leader of Ford Pro since last year and will continue to lead Ford Blue and Ford Model e. Under Frick's leadership, Ford Pro grew market share in North America and Europe, delivered healthy margins, and started the focus on increasing aftermarket percentage of Pro EBIT through an unmatched ecosystem of vehicles, software, services and parts. He also worked closely with the dealer network as they have invested billions to strengthen their Pro business, especially in service capacity and their mobile service fleet. "Alicia's unique skillset and experiences make her the ideal leader to guide Ford Pro into the next era – accelerating our move into software and services and growing Ford Pro's already strong profitability," said Jim Farley, Ford president and CEO. "She combines deep automotive and technology knowledge with an entrepreneurial and customer-obsessed mindset. Importantly, she builds high-performance teams and fosters a culture of innovation, speed and smart risk-taking." Davis was most recently CEO of Alto Pharmacy, an online pharmacy that grew revenue to more than $1 billion under her leadership before its acquisition in March. From 2019 to 2024, she served in senior roles at Amazon, joining as vice president of global customer fulfillment and then promoted to senior vice president in 2022. In that role, she guided Amazon's global fulfillment network through the intense challenges of the COVID‑19 pandemic, driving major advances in robotics and technology that kept goods moving for millions of customers around the world. Before Amazon, Davis worked for 25 years at General Motors. She started as a manufacturing engineer and rose through leadership roles in manufacturing, quality and connected customer experience. In her final GM post – as executive vice president of global manufacturing and labor relations, reporting directly to the CEO – she oversaw 22 vehicle launches and managed 150 facilities in 20 countries. Davis, who was born in Detroit and had several family members, including her father and grandfather, who worked at Ford over the years, said the challenge of leading Ford Pro resonated deeply on a personal and professional level. "I'm thrilled to return to a city and an industry that has meant so much to me, and join an iconic company like Ford," Davis said. "In many ways, my experiences and all I have learned in 30-plus years at GM, Amazon and Alto, have led to this opportunity to help Ford Pro reach its potential as an agile, technology-driven growth business that provides a competitive advantage for customers. If I had to create a role in the auto industry that would best utilize my experiences in both automotive and technology, it would be leading Ford Pro at this pivotal time." Davis serves on the board of directors of JPMorgan Chase & Co. She holds a bachelor's degree in chemical engineering from Northwestern University, a master's degree in engineering science from Rensselaer Polytechnic Institute and an MBA from Indiana University's Kelley School of Business. About Ford Motor Company Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company's Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough EVs along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, Ford is pursuing mobility solutions through Ford Next, and provides financial services through Ford Motor Credit Company. Ford employs about 170,000 people worldwide. More information about the company and its products and services is available at View source version on Contacts MediaIan Thibodeau1.313.268.6056ithibode@ Equity InvestmentCommunityLynn Antipas Tyson1.203.616.5689ltyson4@ Fixed Income InvestmentCommunityJessica Vila- Goulding1.313.248.3896jvila5@ ShareholderInquiries1.800.555.5259 or1.313.845.8540stockinf@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
4 days ago
- Business
- Daily Mail
Trump ally says AI could erase entire job categories
OpenAI CEO Sam Altman has said that entire job categories could be wiped out by artificial intelligence, as he becomes the latest exec to forecast a seismic change in corporate America. The billionaire, who has recently developed a relationship with the President, spoke about the future of the US workforce during his latest trip to Washington this week. 'Some areas, again, I think just like totally, totally gone,' he said, specifically referencing customer support roles. 'That's a category where I just say, you know what, when you call customer support, you're on target and AI, and that's fine.' Altman, who has an estimated net worth of $1.8 billion, also suggested that AI could already diagnose a patient better than doctors, The Guardian reported. His comments come as an increasing number of Wall Street CEOs have warned about how the rise of AI will take a sledgehammer to jobs. 'Artificial intelligence is going to replace literally half of all white-collar workers in the U.S.,' Ford CEO Jim Farley said earlier this month. Altman said the transformation of customer services is already all but complete. 'Now you call one of these things and AI answers. It's like a super-smart, capable person. There's no phone tree, there's no transfers. It can do everything that any customer support agent at that company could do,' he said. 'It does not make mistakes. It's very quick. You call once, the thing just happens, it's done.' While he said AI's diagnostic capabilities had surpassed human doctors, he did not go so far as to say the technology would wipe out healthcare jobs. 'ChatGPT today, by the way, most of the time, can give you better – it's like, a better diagnostician than most doctors in the world,' he said. 'Yet people still go to doctors, and I am not, like, maybe I'm a dinosaur here, but I really do not want to, like, entrust my medical fate to ChatGPT with no human doctor in the loop.' Altman also opened up about his biggest concerns about AI technology, and how it could be a hotbed for fraud. He said he is concerned that the US is facing an 'impending fraud crisis' as AI could enable criminals to impersonate other people. 'A thing that terrifies me is apparently there are still some financial institutions that will accept a voice print as authentication for you to move a lot of money or do something else – you say a challenge phrase, and they just do it,' Altman said. 'That is a crazy thing to still be doing… AI has fully defeated most of the ways that people authenticate currently, other than passwords.' He also said that he worries about a hostile nation using these weapons to attack the US financial system, The Guardian reported. It comes as Altman, and OpenAI, ramp up their presence in Washington. Altman is increasingly taking the place of his estranged co-founder Elon Musk in the President's inner circle. Musk and Altman were once close collaborators in the founding of OpenAI, but are now engaged in a public feud, with Musk suing the company in November last year. He said the company was 'perverting' its original mission – maximizing profits rather than benefiting humanity. On Tuesday, Altman said OpenAI will open its first office in DC early next year. Despite Altman's warnings about the risks of the technology, there has been a marked change in the mood music around regulation in the last several years. Under the Biden administration, OpenAI and its rivals asked for AI regulation. Now they are urging the government to avoid regulation that could curb companies' ability to compete with foreign innovations, particularly in China. The White House released its 'AI action plan' on Wednesday, vowing to keep 'woke AI' models out of Washington and to win the 'AI race.' One executive order states that the federal government 'has the obligation not to procure models that sacrifice truthfulness and accuracy to ideological agendas.' The administration also signed an order to incite innovation and remove what it called 'onerous Federal regulations' that hamper development of the tech.
Miami Herald
21-07-2025
- Automotive
- Miami Herald
Some fear Chinese automakers' playbook is existential threat to US auto industry
DETROIT - Aggressive component-sharing efforts have contributed to lower cost structures at many Chinese automakers, and there's an increasing push for Western automakers to catch up. The strategy stretches from internet-connected vehicle technologies and electric vehicle powertrain systems to actuators and even engines that once defined models. Automakers agree to use common specifications for vehicle parts, sometimes at the behest of the government, to create economies of scale, ensure quality and offer better functionality to customers. The effort has contributed to lower-cost and technologically advanced vehicles from China that people like Ford Motor Co. CEO Jim Farley have called an existential threat to the U.S. auto industry. "We have to beat (Chinese EV giant) BYD, and we're not going to do it with cheaper batteries," Farley said last week during a panel at the Reindustrialize summit in Detroit. "We're going to have to do that with smarter engineering and better supply chain and manufacturing." A key part of that, said Terry Woychowski, president of automotive at Caresoft Global Technologies Inc., a benchmarking consulting firm, is common parts between brands and automakers. "To compete from a cost perspective and time perspective, there needs to be much more sharing of components," he said at the company's vehicle tear-down facility in Livonia. He gave an example: Three automakers go to a supplier for a windshield wiper motor, each providing several thousand specifications for the parts. The supplier agrees to make the individual part for 100,000 vehicles for each company. In contrast, Chinese brands are increasingly agreeing on a list of requirements for a supplier to produce one part many times over. "If you could all get together and say, 'OK, we took 8,000 requirements (each), and we made it 4,000, and we've all agreed - boom. Can you make that for all of us?' You say, 'Yeah, 300,000 at scale,'" Woychowski said. "We all need a motor to do this, but we all think we're smarter than anyone else, and that our smartness is what makes us a better product. "Who would know?" he continued. "Who would care? Nobody. It's got to work. But we fixate on those things because we rely on 100 years of experience. We rely on our specs. We rely on the way we specify a product." As a result, Chinese automakers take advantage of greater economies of scale and introduce product faster compared to U.S. companies for a part of the vehicle that probably won't make or break a sale, Woychowski said. Meanwhile, some automakers in China adopting a common structural design have reduced their bill of materials costs by 5-10%, said Sharath Reddy, senior vice president of research and development at Magna International Inc. Standardization also has been key to unlocking product development timelines of less than two years and driving reliability and quality benefits from tested designs built at scale. Reconciling different engineering philosophies, protecting intellectual property and balancing standardization with the need for differentiation, however, can be a challenge, Reddy said. Additionally, legacy companies work with processes and specifications that have been put in place over decades. "For them, adopting standardization can take years," Reddy said in an email, "especially as it needs to align with sourcing cycles." That's less of a challenge for the startups and new brands working from the ground up in China, he added. Additionally, the role of government and the work of organizations like the China Automotive Technology and Research Center and China Society of Automotive Engineers have contributed to accelerating adoption. For example, the government's standardization of the hardware interface and communication protocols for charging ports for new-energy vehicles, including EVs and plug-in hybrids, allows drivers to use any public or private charging station. That access has helped EV adoption, whereas it's struggled in the United States, where automakers traditionally have used a different charging port from Tesla Inc. "In North America and Europe, there isn't the same level of centralized collaboration. OEMs tend to operate more independently, which makes broad standardization harder to achieve," Reddy wrote. "That said, we're seeing signs of change. With rising cost pressures and increased competition - especially from Chinese OEMs - some global automakers are beginning to revisit how they approach standardization." The most effective use of this approach is sharing components that aren't tied to a brand's identity or for areas where customers don't interact with the vehicle, such as structural parts, seat frame closures, actuators and certain electronic modules, Reddy said. More challenging areas are lighting, exteriors, interiors, powertrains, advanced driver assistance systems and infotainment. "These areas often define the user experience and brand identity," he said, "so OEMs typically want more control and differentiation there." Shifting consumer expectations The line for what parts are important for differentiation is shifting, experts said. As the lifespans of gas- and diesel-powered vehicles extend amid a bumpier transition to EVs, automakers are pressed on where to invest. Plus, newer technologies like the interior's digital cockpit experience are increasingly becoming a way for models and brands to separate themselves from the competition. Bill Russo, CEO of consulting and investment platform Automobility Ltd. in Shanghai, said "the foreign brands have had to rethink, because the whole pricing strategy and the whole content strategy has always been pegged around brands that are defined and differentiated based on their driving performance. It's not about that in the 21st century." More people in China ride than drive, which means they are looking for a vehicle space to live in and enjoy, he explained. The bragging right of the car, Russo said, isn't about the 0-60 mph acceleration. "When the transition happens to EV, it goes from an analog to more of a digital measure of technology differentiation," he said. "It's not that I-get-the-good-stuff-if-I buy-the-bigger-engine way of thinking about product planning. I get the good stuff or I opt in for more intelligence, more experience, more comfort, more cabin comfort." As a result, even engines are increasingly becoming an area of commonality. Horse Powertrain Ltd. is a joint venture between China-based Volvo parent Zhejiang Geely Holding Group Co. and French automaker Renault SA that produces engines, transmissions and other powertrain parts, including for hybrids. Horse also said publicly that it's supplying engines for Mercedes-Benz and other brands. With 17 plants and five research and development centers on three continents, Horse now has its eyes set on expanding into North America, CEO Matias Giannini said on a recent visit to Detroit. Traditionally, engines were a part of the DNA of a brand or model. Although that still might be true for performance-oriented vehicles, it may not be as much of a priority for other offerings, creating opportunity for economies of scale, Giannini said. Collaboration may be a move to save on costs to fill out a company's portfolio for ICE and hybrid vehicles when capital is spread thin investing in EVs and other advanced technologies that automakers see is their future, Giannini said. "By 2040, 50% of vehicle sales still will not be EVs," he said. "A lot of OEMs had given up (on investing in ICE), and they're realizing there is more than one road to net zero (carbon emissions). We offer solutions to close gaps, as companies realize they need to have more hybrids, and the biggest question is: What is the most efficient way? We can help them get the volume they need." Giannini said cost savings depend on whether an automaker uses an off-the-shelf product or develops something with Horse. The manufacturer makes 8 million engines and transmissions per year and has $17 billion (15 billion euro) annual revenue outlook. What the industry says General Motors Co. had said it's going "all in on EVs," only to reverse that decision by announcing plans to launch plug-in hybrids in 2027 in North America. A representative for the Detroit automaker declined to comment on shared component efforts, citing competitive reasons. GM has partnered with Hyundai Motor Co. on vehicle development, supply chain and clean-energy technology, with GM CEO Mary Barra in recent months teasing that more information on that collaboration will be coming soon. In a statement, Stellantis NV - parent of Chrysler, Dodge, Jeep and Ram - shared that the automaker isn't a part of any external or industrywide standardization effort, but that it uses collaboration and scale across its 14 brands globally. Ford Motor Co. spokesperson Mike Levine pointed to the Dearborn automaker's partnership with Volkswagen AG that shares platforms and plants. For example, the VW Amarok truck is based on the Ford Ranger pickup, and both are built at a Ford plant in South Africa. Ford and GM have also developed together nine- and 10-speed transmissions. Ford also referred The Detroit News to the Alliance for Automotive Innovation, which didn't respond to a request for comment. German supplier Robert Bosch GmbH seeks standardization of products within its portfolio to save on costs, though automakers define their individual specifications, spokesperson Tim Wieland said in a statement. Japanese supplier Denso Corp. spokesperson Andrew Rickerman said in a statement that standardization is an area the company is always evaluating. Denso leverages a "core and customize approach" when co-developing products with customers in which it presents a core product that can be altered for the unique applications and requirements of individual customers and the regions in which they operate. "This approach allows us to produce dependable products," Rickerman said, "that still offer opportunities to innovate for consumer value, helping us make continual advancements in traditional and new product areas." SAE International in the United States works with stakeholders to develop standards in the automotive and aerospace industries. The organization's standards are voluntary, though it does provide information to governments developing regulations when requested. Regarding China, "they have certain benefits that we may not recognize as easily in a free market society where their market is somewhat constrained to a certain degree," Christian Thiele, SAE's senior director of ground vehicle standards, said about government support and subsidies in China for standardization. But industry collaboration in the United States to improve safety, health and other benefits for customers has been ongoing for decades. ADAS, driver monitoring systems and sustainability are major topics today Thiele said. SAE reviews existing standards every five years, though some areas that represent rapidly changing technologies, like those around the North American Charging Standard, are discussed more frequently. "Getting 125 engineers in the room, you might think sometimes it's efficient, but it doesn't get that efficient, because now you have a lot of strong-willed individuals with their opinions," Thiele said. "But what you're doing at the end of the day is you're delivering the best product there is." And even in these discussions, Chinese competitors are participating as they look to expand into the U.S. market, Thiele said. "You may not get a complete vehicle on four wheels from BYD next week," he said, "but eventually that will happen." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
