Not pretty. Ford posts 8.6billion loss in the second quarter.
#2
Not surprised one bit. The car manufactures are hanging on for dear life. The writing has been all around us for over a year, just few seem to pay attention. I have read where Ford could go under or be bought out, if there aren't some positive changes happening soon. When will people wake up & realize what is going on. I'm getting more convinced now, after the fact. I'm talking in every aspect of this world. Take from the rich & give to the poor. That is the goal of the times.
#5
Chrysler (ChryCo) is in the worst shape, and where or where did you read that Chrysler turned a profit?
That's totally unbelievable considering that every vehicle they are selling is losing market share every month.
Their 2008 sales figures are down over 20% from last year.
Chrysler is now owned by private investment firm Cerberus, who doesn't release any financial figures.
Not one vehicles sold by ChryCo is selling worth a damn. Speculation is running rampant that ChryCo will declare bankruptcy before the end of the year.
GM recently stopped issuing stock dividends, the first time that has happened since 1933.
GM says it has enough cash on hand to get them into the 1st quarter of 2009...what happens after that?
#6
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#8
Yes. Several years ago Ford put up all the company assets to get a multi-billion dollar loan.
I've forgotten the exact amount, but it was around 23 billion.
GM is gonna have to do the same thing pretty soon, otherwise it's Chapter 11 for its North American operations.
GM going bankrupt is unbelieveable...at one time they had over a 60% share of the US market.
I've forgotten the exact amount, but it was around 23 billion.
GM is gonna have to do the same thing pretty soon, otherwise it's Chapter 11 for its North American operations.
GM going bankrupt is unbelieveable...at one time they had over a 60% share of the US market.
#13
I agree, and it is as simple as a restructure but that would involve dropping alot of jobs, so maybe that's why, but really what they need to do is drop some of their brands like gmc and some pontiac models, and Hummer is being bid on now, from what i hear
#14
Fords not the only one. As reported this morning, General Motors Co. suffered one of the worst quarters in its history, with net losses totaling $15.5 billion.according to CNN Money.com.
http://www.economyincrisis.org/?cont...FSIragodCBW2qw
http://www.economyincrisis.org/?cont...FSIragodCBW2qw
#15