Three stories making news across the Midwest today:
1. Sales up at Ford, forecast down. Ford’s third-quarter sales rose 14.1 percent year over year to $33.1 billion, the company said Wednesday morning. But the automaker’s global production plan of 1.37 million vehicles is below the 1.44 million anticipated by analysts, and investors had sold off Ford shares in morning trading, according to the Detroit Free Press. The gap came as a result of “a lower outlook in South America, Asia Pacific and Europe,” Morgan Stanley analyst Adam Jonas wrote.
2. Cook County plans layoffs. Cook County executives unveiled a budget that called for more than 1,000 layoffs to help narrow a projected $315 million deficit, according to our partner station WBEZ. Saying “there’s been nothing easy about this,” board president Toni Preckwinkle said hospital funding and the county’s jail population would be reduced in additional savings measures. She is also trying to convince the county’s union workers to accept furloughs to save $40 million instead of layoffs.
3. Wisconsin public employee pay freeze ahead? Wisconsin state employees may face a pay freeze over the next two years if lawmakers support a proposal from Gov. Scott Walker. The new proposal comes months after Walker required public workers to pay more for their pensions and health insurance while also eliminating almost all collective bargaining. The Milwaukee Journal Sentinel reports another change in the proposed legislation would award overtime only for actual hours worked, after a newspaper investigation revealed how prison guards gamed the overtime system to boost their pay.