Ford- 1 BILLION profit third quarter!!!
Senior Member
Joined: Jan 2005
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From: Marshall, Tx
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".
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".
$800 million revenue loss
Ford's revenue fell $800 million for the quarter, to $30.9 billion, due mainly to its financial services arm, Ford Motor Credit, making fewer loans.
Ford's debt actually increased by 800 million in 3Q09. Not really what I would call progress and most certainly not a profit.
The other area where Ford has a cost disadvantage is debt. Ford reported $26.9 billion in debt, up $800 million from the second quarter.
and lets not forget what is on the line if Ford cannot make good on this debt.
The company avoided the same fate as rivals Chrysler and GM by mortgaging its factories and even the familiar blue oval logo to borrow $23.5 billion before credit markets froze
Dumping Volvo for a loss of $4.45 billion of the $6.45 billion purchase price in 1999
http://www.reuters.com/article/busin...58E7IA20090915
Senior Member
Joined: Jan 2005
Posts: 599
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From: Marshall, Tx
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!
Hopefully Ford will be able to prevail and continue to be a profitable and PRIVATELY held American company!
Ford went public on Jan. 17, 1956
Senior Member
Joined: Nov 2005
Posts: 17,118
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From: Burleson, Texas
A union does not want the company it's working for to go bankrupt. That should be common sense to rational minded people. How can a union survive when it's members are out of a job?
