Latest news with #Farley
Yahoo
13 hours ago
- Automotive
- Yahoo
Ford CEO Jim Farley Delivers Jay Leno's Mustang GTD
Famed fire survivor and not-a-Ferrari owner Jay Leno just took custody of his brand-new Ford Mustang GTD, the American carmaker's attempt to muscle in on the European exotic market. And I do mean brand new. The car only just started rolling off the assembly lines of the company that invented assembly lines, and Leno's GTD is serial number 12, matching his Ford GTs. The Mustang was delivered straight to him by no less than Ford CEO Jim Farley himself. As seen on the latest episode of Jay Leno's Garage, Farley walks the one-time talk show host through the Mustang GTD and what makes it special. Farley says that this is the "ultimate Mustang ever built," and it's not hard to see why: This front-engined American machine lapped the Nurburgring in just 6:52.072. It managed that using the optional Performance Pack, which adds a front splitter, underbody flaps, and a Formula 1-style DRS spoiler that grants it 2,000 pounds of downforce at 180 mph. The Mustang GTD is the street-legal version of the race-spec Mustang GT3 that took a podium finish at Le Mans in 2024. As Farley keeps on pointing out to Leno, though, the GTD comes with a bunch of features the race car didn't even get. And yet, as Leno takes it for a spin on the streets of LA, he notes, "You could drive this every day... In a complimentary way, it's like a Miata. It's extremely light and nimble on its feet." It's calm enough, when you want it to be, to act like a normal car. Read more: These Are The Best Engines Of All Time, According To You Finer Details On the rear of the GTD there's an etching of every generation of Mustang, a proud lineage that the GTD is now at the apex of. The paddle shifters, gear knob, and serial plate are 3D printed out of titanium, because as Farley says, every last detail of the car is focused on "weight and performance." He didn't mention that the titanium literally comes from decommissioned F-22 fighter jets, but, just so you know, it comes from decommissioned F-22 fighter jets. Inside the cabin itself, there's a little rear window just to see the suspension dampers in action. Farley points this out during the actual drive, though Leno jokes that he can't look without crashing. I don't know that any production car has ever let me look at the suspension, uh, suspending, but that's certainly a way to signal that this is no normal car. Most touching of all: Everyone who actually built the car signed it underneath the hood, a testament to the fact that this is a low-volume model with only a small team working on it. Only 1,000 GTDs will ever be made. Leno has other Fords that were signed this way, and he says that he's always open to signatories or their relatives swinging by the garage to see it. Exotic, But Also Homegrown American Farley says that the Mustang GTD is a "high-performance exotic car," rather than a more traditional muscle car. That said, it was important to Ford that the Mustang remained recognizably a Mustang. So where, say, the Chevrolet Corvette has gone mid-engined, the GTD still has a great big stonking V8 right at the front of the car. It's a supercharged 5.2-liter engine based on the company's Predator line, making 815 horsepower and 664 pound-feet of torque. That's good for a top speed of 202 mph. Stopping all that power are ceramic brakes with 17-inch rotors. The GTS also boasts $4,000 worth of microchips onboard for the computers to perform all their wizardry, a lithium-ion battery in place of a paltry old 12-volt, and you even get a concierge service, meaning a specialist flies in to do any work the car needs. If you'd like a signed Ford Mustang GTD yourself, it's easy! You just have to apply for one (so Ford can judge whether you're special enough, I guess) and fork over $327,960, at minimum, before you put any extras on it. That prices it a little bit above a Porsche 911 GT3 RS, one of the European exotics the GTD is meant to directly challenge. Worth it? Whichever side of that answer you fall on, you know you want one. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Yahoo
17 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. Sign in to access your portfolio
Middle East Eye
7 days ago
- Politics
- Middle East Eye
Ian Hislop criticises arrest of man holding up Private Eye cartoon at Gaza protest
The arrest of a British man over the weekend for holding up a cartoon from Private Eye addressing the proscription of Palestine Action has been criticised by the satirical magazine's editor. Jon Farley was arrested by UK police on Saturday at a silent protest in Leeds after holding up the cartoon which joked that 'Spraying military planes with paint' was 'Unacceptable Palestine Action' while 'Shooting Palestinians queuing for food' was 'Acceptable Palestine Action'. He was arrested under section 12 of the Terrorism Act, which prohibits support for a proscribed organisation. Ian Hislop, editor of Private Eye, told the Guardian that the arrest of Farley was 'mind-boggling'. Hislop said the cartoon was 'actually a very neat and funny little encapsulation about what is and isn't acceptable, and it's a joke about - I mean, it's quite a black joke - but about the hypocrisies of government approach to any sort of action in Gaza. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters 'So it's not difficult to understand. It's critical, but it is quite clearly a joke. Seems to me absolutely extraordinary that someone could be arrested for holding it up.' The UK government proscribed Palestine Action under anti-terror laws on 4 July, following an incident in which members broke into RAF Brize Norton earlier this month and spray-painted two planes they said were 'used for military operations in Gaza and across the Middle East". Farley told the Guardian that police officers grabbed him and took him to the side, before asking him about the sign he was holding. 'I said: 'Well it's a cartoon from Private Eye. I can show you. I've got the magazine in my bag,' by which time, they were putting me in handcuffs,' he said. 'It's critical, but it is quite clearly a joke. Seems to me absolutely extraordinary that someone could be arrested for holding it up' - Ian Hislop, Private Eye editor He said he was taken to a police station and questioned by counter-terrorism police, before being released six hours later under bail conditions that he attended no Palestine Action rallies. Farley said he had never attended such rallies, and that any such demonstration would be illegal under terrorism laws anyway. The new legislation has made membership of and support for Palestine Action a criminal offence punishable by up to 14 years in prison - the first time a direct action group has been proscribed in the UK as a terrorist group. UN experts, human rights groups, and leading figures have condemned the ban as draconian, warning that it will have adverse consequences for the freedom of expression and implications for the rule of law. Farley said he had received no apology or explanation since his arrest, and was left with minor bruises and cuts to his arm following the incident. West Yorkshire police said: 'We are sorry that the man involved is unhappy with the circumstances of this arrest. As this is a new proscribed organisation, West Yorkshire police is considering any individual or organisational learning from this incident.' 'High price for society to pay' Private Eye is one of the highest circulating magazines in the UK, selling over 200,000 copies per fortnightly issue. Its latest issue reported on Farley's arrest, criticising the police's actions. Palestine Action court case: UK decision makes it an 'international outlier' Read More » It said: 'As the Eye wrote in issue 1652: 'Some will argue that proscribing Palestine Action and extending the definition of terrorism to direct action groups that destroy property but don't aim attacks at the public - rather than using the current criminal law - is a high price for society to pay.' 'This was before the police decided to extend the definition of terrorism to include people cutting jokes out of satirical magazines that attempt to criticise the hypocrisies of government policy.' On Saturday, at least 55 people were arrested in London at a rally against the proscription of Palestine Action outside the UK parliament. They held up placards reading "I oppose genocide. I support Palestine Action" before police began bundling attendees into vans. Similar protests took place in Edinburgh, Cornwall and other parts of the country, also leading to arrests.
IOL News
15-07-2025
- Automotive
- IOL News
Chinese cars are delivering a wake-up call to the West, Ford CEO Jim Farley admits
Ford CEO Jim Farley is under no illusion about the challenges that lie ahead. Image: Ford via AFP It's no secret that Chinese car manufacturers pose a significant existential threat to the 'established' carmakers from Europe, the US, Japan and South Korea. For the most part their leaders are hugely concerned about the path ahead, but none are as bluntly honest and vocal about the position that 'western' firms find themselves in, as Ford's Chief Executive Jim Farley. The CEO has previously stated his admiration for the new wave of Chinese vehicles, even admitting last year that he loved the Xiaomi SU7 that he had been driving at the time. Speaking at the recent Aspen Ideas Festival in Colorado, Farley again expressed his deep admiration for Chinese cars. He even suggested that Ford may not be around in the future if it cannot keep pace with competition from the east, CGTN Europe reported. 'It's the most humbling thing I've ever seen. 70% of all EVs in the world (electric vehicles) are made in China,' Farley said. 'They have far superior in-vehicle technology. Huawei and Xiaomi are in every car. They have facial recognition. You get in, you don't have to pair your phone, your whole digital life is mirrored in the car. You have an AI companion that you can talk to - ChatGPT equivalent in China. All the automatic payment is already there. You can buy movie tickets. It has facial recognition so it knows who's in which seat and which media you like.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading When asked why Ford cars don't have that, the CEO said part of the reason was that Google and Apple were not in the car business. But beyond that, he said, their cost and quality were becoming superior to what we were seeing in the 'west'. 'I mean, we are in a global competition with China and it's not just EVs, and if we lose this we do not have a future Ford.' Sobering words, those. But at least the Ford CEO is prepared to face the facts. In a prior interview with Robert Llewellyn's podcast, Farley said that when a new technology comes (referring to EVs in this instance) there is a fitness test for cost. Whoever has the lowest cost, like Henry Ford did with the Model T, would ultimately win the battle in global markets. The Ford CEO, in a separate interview with CNBC in 2024, said that making electric vehicles profitable would require radical change. 'The first thing we have to do is really put all of our capital toward smaller, more affordable EVs. That's the duty cycle that we've now found that really matches. These big, huge, enormous EVs, they're never going to make money. The battery is $50,000… The batteries will never be affordable.' To that end, the company is working on a new affordable electric vehicle platform that will be a 'major step forward' in its strategy to bend the cost curve of electric vehicles. These vehicles will also offer more personal digital customisation. The first product off this platform, a midsize pick-up (bakkie) is due in 2027 in the US. For the time being Ford will also be focusing its EV game on larger and more expensive vehicles. In August 2024, Ford announced that it was broadening its electrification strategy to reach more customers and improve profitability. Thus Ford will focus its next generation of electrified and digitally advanced vehicles where it currently has competitive advantages, namely commercial vans, midsize and large pick-up trucks and long-range SUVs. This will see an electric commercial van entering the market in 2026, followed by two pick-up trucks in 2027. Ford also plans to realign its US battery sourcing plan to reduce costs and maximise capacity utilisation. 'An affordable electric vehicle starts with an affordable battery,' Farley said. 'If you are not competitive on battery cost, you are not competitive.' IOL Motoring
Miami Herald
14-07-2025
- Automotive
- Miami Herald
Ford breaks an unfortunate General Motors recall record
There's a new type of stress that potential car buyers are shouldering in 2025 as they consider their options. President Trump's tariffs have placed a major stress on the automotive industry as a whole. A 25% tariff on imported cars went into effect on April 3, followed by additional tariffs on car parts on May 3. Don't miss the move: Subscribe to TheStreet's free daily newsletter These changes pushed major automakers such as Ford and Toyota to announce price increases - and that came before Trump announced a new 50% tariff on copper imports, which are vital in the car manufacturing process. It all adds up to a scare for American consumers who are planning to buy a vehicle. The average cost of a new car was $48,799 in May, per Kelley Blue Book - but that's likely the last time prices will be that low, as sellers are still selling current inventory that they had on hand before tariffs hit. Related: Another luxury car maker is taken down by US tariffs If you feel pressured to buy fast before prices rocket and are thinking about buying from all-American favorite Ford (F) , there's one crucial thing you should consider before you move forward with your decision. While no one likes dealing with a vehicle recall, typically auto companies try to make the process as pain-free as possible. More Automotive: 10,000 people join Tesla class action lawsuit over key issueEVs suffer surprising rejection in a crucial marketToyota makes surprising move to beat Tesla in key market Unfortunately, however, there are simply more of them these days. In the decade between 2012 and 2022, car recalls went up 46%, per data from the National Highway Traffic Administration (NHTSA). One company that has had a lot of recalls this year is Ford. The company has issued 89 recalls in the first six months of 2025, a number that seems extremely high considering the short span of time. Related: Elon Musk is bringing Robotaxis to a new city The number also breaks a record. The last big automaker to hold the record for the most recalls in a calendar year was General Motors, which had 77 recalls in 2014. Ford has exceeded that number in half the time. The automaker's most recent recall affected 850,000 due to a potential low-pressure fuel pump failure and was issued by the NHTSA on July 8. According to the recall, the pump failure could result in an engine stall while driving. If you're a Ford driver and concerned your vehicle may be included, you can check the NHTSA website for recalls using your license plate number or VIN number. Ford's quality issues are no secret to the automaker's CEO Jim Farley, who told investors in 2024 at a Wolfe Research investor conference that he has "big regrets" about not moving to fix the problem sooner. "The capability atrophied in engineering, supply chain, and manufacturing at Ford," Farley said. "It needed a much more fundamental reset than I had realized." Farley also said at the time that he believed the key to fixing the problem lay in company culture changes. "You have to set up a culture shift, a performance reward system where every engineering manager, purchasing component manager, every plant manager is fully accountable for the quality and cost of their work," he said. Despite its ongoing recall issues, Ford's sales are up, thanks in part to an extremely clever marketing tactic called "From America, For America" that offered customers employee pricing on vehicles. "Ford increased sales in the first half of the year 6.6% to 1.11 million units. Even its struggling EV lineup saw a nearly 15% increase to 156,509 units. Total vehicle sales in the second quarter were up more than 14%," reports TheStreet's Tony Owusu. Related: Ford debuts plan to increase sales that car buyers will love The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
