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Ford paying $750 million just to close plant in Belgium

According to a report from Reuters, Ford is shelling out $750 million in a severance deal that will see the automaker close its facility in Genk, Belgium. The automaker reached this deal with the 4,000 hourly workers employed at the plant last week, which means the company will pay out an average of $187,500 per worker.
Ford is still negotiating with the 300 salaried workers at the factory, which currently produces the Mondeo sedan. All told, Ford expects to lose around $2 billion in Europe thanks in no small part to the region's ongoing economic downturn, and two more plants are scheduled to be shut down in Europe this year. The company will log its $750 million payout under "special items" for this quarter.
As you may recall, Ford took a similar path in the US back in 2009 when the domestic market took a spill. Back then, the company shelled out around $50,000 per employee with at least one year of experience, plus either $25,000 toward a new car or an extra cash payment of $20,000. It would seem the cost of closing plants in Belgium is a much harder pill to swallow than in the States...

Yearly auto recall record demolished in 6 months

With nearly 40 million vehicles under repair campaigns and counting, 2014 will almost certainly go down as the year of the automotive recall. At just past the halfway mark, we are already at record levels, and there aren't any signs that the epidemic is slowing. General Motors' latest 8.4 million vehicle recall in the US puts the industry over the top for the title of the most cars with fixes pending from automakers ever. That's a prize no one ever wants to receive. According to TheDetroitBureau.com, the US recall total has hit 39.85-million vehicles to surpass the previous record of 33.01 million in 2004. Perhaps more surprising, with over 26 million repairs pending, it's still quite possibly that GM could recall more vehicles by the end of the year than the 27.96-million unit total of the entire US auto industry last year. With over 40 campaigns under its belt in 2014, the roughly one million cars it would take would hardly come as a surprise at this point, especially with increased government scrutiny into the Detroit automaker's processes. The pace of recalls started off relatively normal this year, with just a smattering of campaigns. The most surprising early on was Aston Martin calling in about 75 percent of its output since 2007 due to counterfeit plastic, but with just a few thousand cars, it was relatively tiny in pure numbers. GM really kicked things off soon after, but we didn't know it at the time. It issued its first bulletin for 778,000 Cobalt compacts in early February. Things only ballooned from there as more models were added to its growing ignition switch problem. The onslaught of announcements from every major automaker hasn't abated since then. Some industry executives are trying to put a positive spin on the situation. "With what's transpired (in recent months), there's a higher level of scrutiny," said Joe Hinrichs, Ford president of the Americas, to TheDetroitBureau.com. He believes that automakers are looking at data much more thoroughly than before, and it means better customer safety. Still, many consumers probably wish these problems had been found before their car went on sale.

2014 Saleen George Follmer Edition Mustang debuts at Lagun Seca

Saleen used the occasion of the race-fueled Rolex Monterey Motorsports Reunion at Mazda Raceway Laguna Seca to announce its new Heritage Collection Lineup. The event was punctuated with the debut of the collection's first member, the 2014 Saleen George Follmer Edition Mustang.
Follmer's name will likely sound familiar to fans of American racing in the 1960s and '70s. The driver competed in Formula One with the Shadow team in 1973, ran the Indianapolis 500, was the Can-Am champion in 1972 and drove stock cars in NASCAR's Winston Cup as well. The multi-disciplined driver is now one of three -the other two being Mark Donohue and Swede Savage - with the honor of upcoming, limited edition Saleen-tuned vehicles..
Follmer's name will likely sound familiar to fans of American racing in the 1960s and '70s.