Now yer talkin!! Ford has closed the 3rd quarter with a ONE BILLION dollar profit! Now that's the good news we need to hear about our favorite team.
Quote:
Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.
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Ford was trying to get the negotiations wrapped up before their 3rd Quarter earnings release. Well now that cat is out of the bag so to speak, I think they are going to have much more difficult time coming to some agreement. It will be interesting to see how this plays out.
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Let the moaning and whining from the UAW begin. I'm sure they will now want higher pay and better benefits. The Auto Unions are now Obama nut huggers and will do whatever it takes to have Ford go the way of GM.
Hopefully Ford will be able to prevail and continue to be a profitable and PRIVATELY held American company!
i just read an article in the paper when i was on break at work, they're having problems with the UAW, so im sure that will be costing them more down the road.
Ford has consolidated its position as the only Detroit automaker with world-class reliability. Of the 51 Ford, Mercury, and Lincoln products that we surveyed, 46 — or about 90 percent — are average or better, including the new Ford Flex SUV.
GM shed the Hummer, Pontiac, and Saturn brands after emerging from bankruptcy. It now consists of Buick, Cadillac, Chevrolet and GMC. Of the 48 models we surveyed from those brands, 20 have average scores, and only the Malibu v6 sedan is better than average.
Some newer GM products are bright spots. In addition to the Malibu, the Buick Lucerne did well in our road tests, and it scores average in reliability. The Chevrolet Traverse SUV also makes the cut, as does its cousin, the Buick Enclave, but only in the all-wheel-drive version. The Chevrolet Silverado and GMC Sierra 1500 pickups, two good performers, earn our recommendation as well. GM has a number of strong contenders either just released or in the pipeline, but they are too new for us to have reliability data on them.
As for Chrysler, we couldn't recommend any of its products in last year's survey because of mediocre performance, poor reliability, or both. Now we can recommend one: the four-wheel-drive version of the redesigned Dodge Ram 1500 pickup. It did well in our road tests and rates average in reliability. Still, more than one-third of Chrysler products are much worse than average, including its new car-based SUV, the Dodge Journey.
i just read an article in the paper when i was on break at work, they're having problems with the UAW, so im sure that will be costing them more down the road.
If the UAW does not accept some wage cuts, Ford is moving the plant down to Mexico. They have been working on that for a long time now.
Even though Ford released 1 billion in earnings, that is not quite 'actual earnings'. Some of it is from Cash for Clunkers, and some is from cutting some costs here and there. I'm happy to see them making better numbers but it's not quite the whole truth.
Awesome to hear. Don't let Obama find out though. He may ask to borrow .
no he'll just give it to the people on welfare, that or "give" the people on welfare all new fords
something like, i want all automakers to be equal, so in turn since GM and chrysler dont sell worth a crap, ford must give away cars and trucks to those in need.
If the UAW does not accept some wage cuts, Ford is moving the plant down to Mexico. They have been working on that for a long time now.
Even though Ford released 1 billion in earnings, that is not quite 'actual earnings'. Some of it is from Cash for Clunkers, and some is from cutting some costs here and there. I'm happy to see them making better numbers but it's not quite the whole truth.
Just curious, which plant is it that they will move to Mexico??
So an increase in sales and a reduction in expenses (some due to concessions from the union in March including wage cuts) do not count on the bottom line?? Where is this type of accounting taught??? Weird stuff.
Please enlighten us with "the whole truth".
Just curious, which plant is it that they will move to Mexico??
So an increase in sales and a reduction in expenses (some due to concessions from the union in March including wage cuts) do not count on the bottom line?? Where is this type of accounting taught??? Weird stuff.
Please enlighten us with "the whole truth".
I have some financial reports from my broker that were sent to me since I own Ford shares, it is about one of the taurus plants. It has been in the works for actually over a year now, just very slow. But rightfully so, no need to rush a plant movement especially in an unsure economy like this one.
Did the concessions help from the Union, yes... it helped their balances a little more.
Many people take the media's word at 100% truth, the media is making it sound that the Billion in earnings was due to increased sales alone. Not all of the money earned it from 'just' sales. It is idiocy to listen to the media for financial advice/info.
Ford still has some debts and they are running on a lot of credit as well.
In perspective... That's less than 10% of the loss they had in the 4th quarter of last year. And in a quarter with the advantage of Cash for Clunkers and inventory replenishment being in effect... I guess it's better than a loss, but many 4th quarter sales were probably moved up to take advantage of the government hand out. I wouldn't get too excited yet.
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Last edited by Odin's Wrath; 11-03-2009 at 10:01 PM.
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