Ford Expects $2 Billion Net Income Drop Due To Pension Assets
Ford says that a change in the way it values pension assets will cut its 2016 net income by $2 billion.
Watch CBS News
Ford says that a change in the way it values pension assets will cut its 2016 net income by $2 billion.
The facility is being built at the site of a former General Motors plant. It's also where B-24 bombers were made during World War II.
The switches are responsible for at least 124 deaths and 275 injuries.
In addition, GM is confirming that another supplier has committed to make components for GM's next-generation full size pick-up trucks in Michigan, moving 100 supplier jobs from Mexico to the U.S.
The investment is part of the normal process of equipping factories to build new models, and it's apparently been planned for months.
U.S. car shoppers will find plentiful deals, relatively low interest rates and lots of high-tech choices in the market this year.
See more than 500 vehicles on display, representing the most innovative designs in the world and experience North America's largest and most prestigious automotive showcase.
The move in the waning days of the Obama administration brought protests from the industry, which accused the agency of playing politics with a rushed determination.
As show visitors check out these concepts they should ask themselves: Would I build it or bag it?
Three former employees of Takata Corp. have been indicted by a federal grand jury on charges of concealing defects in the company's air bag inflators.
Fiat Chrysler is denying government charges that some of its diesel vehicles violate federal clean air standards.
The U.S. government is accusing Fiat Chrysler of failing to disclose software in some of its pickups and SUVs with diesel engines that allows them to emit more pollution than allowed under the Clean Air Act.
The recall is among the latest round of Takata recalls covering 5.7 million vehicles involving 17 automakers in the U.S.
Multi-million-dollar displays show new versions of big sellers and new technology.
The imminent criminal plea deal between Volkswagen and U.S. prosecutors in an emissions-cheating scandal could be bad news for one group of people: VW employees who had a role in the deceit or subsequent cover-up.
We are just hours away from Canada holding its own event to celebrate the Gordie Howe International Bridge on Friday, and CBS News Detroit spoke with Canadian residents about how they're feeling leading up to the ceremony.
A Merritt Academy student and his parents, one of whom worked at the district, have been charged after authorities say the student brought guns to school and his parents withheld knowledge of the weapons from school officials.
A suspect was taken into custody after a shooting at a Dearborn Walmart on Thursday, injuring one person.
The wildfire smoke that blanketed part of the U.S. for days resulted in $4 billion in economic losses in Michigan alone, a study says.
The number of cyclosporiasis cases in Michigan has topped 7,600 as health officials continue to track a parasite that can cause diarrhea and nausea.
Many newer vehicles are equipped with high-efficiency cabin air filters capable of capturing a significant amount of fine particulate matter.
Lawmakers in Michigan are working to push legislation that would stiffen penalties on noisy vehicles with exhaust modifications.
As the United States marks its 250th birthday, Ford Motor Company is showcasing more than a century of automotive history in a new exhibit that explores the company's role in shaping America.
The Detroit Auto Show has spent more than a century evolving alongside the auto industry. It has grown from a small, local exhibition into one of the world's premier automotive events.
The Pontiac Star Car Reunion at the Oakland Expo Center features a wide range of vehicles.
A major weekend in Ann Arbor as fans gear up to see country music star Morgan Wallen take over the University of Michigan Big House stadium on Friday and Saturday.
Behind every video is a true family effort.
Concerns surrounding air quality are prompting event organizers across Metro Detroit to make adjustments to their festivities or cancel altogether.
The few who aren't open for business on Thursday say it's out of concern for their employees' health and to protect their art.
Bonnie Tyler, the Welsh pop star best known for singing the chart-topping power ballad "Total Eclipse of the Heart" in 1983, has died. She was 75.
James Outman hit a three-run homer in the seventh inning, Dillon Dingler had a tiebreaking double in the eighth and the surging Detroit Tigers held on to beat the Kansas City Royals 4-3 on Thursday night.
Federal health officials said they've identified a new outbreak of the cyclospora parasite, but the source hasn't been specified.
The Secret Service said a member of Vice President JD Vance's detail is under investigation for "compromising operational and information security."
The House on Thursday voted to direct President Trump to end the war with Iran, after four Republicans joined Democrats to rebuke the president over his handling of the conflict.
Gov. Gretchen Whitmer signed a law requiring Michigan kindergarten through fifth grade reading and language arts teachers to complete literacy training, with a deadline set for the 2031-32 school year.
The number of cyclosporiasis cases in Michigan has topped 7,600 as health officials continue to track a parasite that can cause diarrhea and nausea.
What started as a routine trip to Taco Bell has turned into a nearly two-week hospital stay for Southfield resident Ella-Salone Jones. She shares her story amid a multistate cyclosporiasis outbreak.
A generic version of the allergy medication Zyrtec is under recall across the U.S. over cross-contamination concerns.
The number of cyclosporiasis cases in Michigan has topped 7,100 as health officials continue to track a parasite that can cause diarrhea and nausea.
The number of cyclosporiasis cases in Michigan continues to grow in the hundreds each day as health officials track a parasite that can cause diarrhea and nausea after contaminated food is eaten.
James Outman hit a three-run homer in the seventh inning, Dillon Dingler had a tiebreaking double in the eighth and the surging Detroit Tigers held on to beat the Kansas City Royals 4-3 on Thursday night.
Patrick Kane, 37, signed a two-year, $16 million contract to return to the Blackhawks on Thursday, according to the team.
For Joseph and Johnathan Rinehart in Clarkston, Michigan, wiffle ball is not just a friendly game; it's an opportunity to bring people together and uplift a local historical church in need.
Chicago collected 11 hits while improving to 23-10 in its last 33 games, bouncing back nicely after losing 8-6 in 10 innings in the series opener on Monday night.
U-M President Domenico Grasso announced Monday that Manuel will leave the role by the end of the year, as a third-party culture review found failures to act on allegations of wrongdoing within the athletic department.
The conversation turns to rising auto insurance rates across Michigan and new legislative bills in Lansing that would help stem the tide.
The Democratic side of the aisle had an intriguing development earlier this week when state Rep. Mallory McMorrow suddenly dropped out of the contest
Former NBA All-Star/entrepreneur Jalen Rose, DTE's Trevor Lauer and Oakland University president Ora Hirsch Pescovitz headline an all-star Michigan Matters episode.
Mark Hollis, COO of Rocket Entertainment and tournament director of the PGA Tour's Rocket Classic, appears on Michigan Matters.
Former U.S. Energy Secretary and Michigan Gov. Jennifer Granholm appears exclusively on CBS Detroit's Michigan Matters.
A Merritt Academy student and his parents, one of whom worked at the district, have been charged after authorities say the student brought guns to school and his parents withheld knowledge of the weapons from school officials.
We are just hours away from Canada holding its own event to celebrate the Gordie Howe International Bridge on Friday, and CBS News Detroit spoke with Canadian residents about how they're feeling leading up to the ceremony.
Temperatures climb again beginning tomorrow as 80s return for the weekend.
The wife of a Michigan man who was convicted of killing a Rochester Hills man while posing as a DTE worker has pleaded no contest in the case.
One person is in custody after a shooting outside a Walmart in Dearborn that injured one person.