cbs2.com - Ford Posts $8.67 Billion Loss In Second Quarter

Not good!

 

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.

 

Chrysler somehow turned a profit during the same period. Ford is carrying around a lot of unnecessary weight.

 

Not as much weight as gm is!

 

Ford is in the best shape of any of the "Big 2.8" with 26.6 billion dollars in automotive cash.

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?

 

I posted that up - but admittedly at lot of the lost Ford has posted is due to a write down in the valuation of a lot of their commercial assets (read: property).

They "lost" $8bn there alone...

 

Did Ford borrow any money like gm may have to?

 

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 heard this morning too that Honda posted a profit as well this quarter, primarily from scaling back production on the Ridgeline and Pilot and focusing more on the Accord and Civic.

 

Ford claims to have liquidity. I love that term.

 

If GM restructures a bit, they'll do just fine, they're not as close to bankruptcy as some might think

 

Legacy costs are a real PITA.

If it was as simple as a restructure why havent they done so already?

 

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

 

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

 

With the money the big 3 have throw at the retired and present employees its no wonder they are hurting. The pay, benefits and retirement plans got way out of hand because of the unions. All 3 lost billions last year but the CEOs more than likely still made $5 million plus stock options.