Not pretty. Ford posts 8.6billion loss in the second quarter.
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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.
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Chrysler somehow turned a profit during the same period. Ford is carrying around a lot of unnecessary weight.
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Not as much weight as gm is!
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Originally Posted by Logical Heritic
(Post 6384565)
Chrysler somehow turned a profit during the same period. Ford is carrying around a lot of unnecessary weight.
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?
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Originally Posted by Fordsflylow
(Post 6385826)
Did Ford borrow any money like gm may have to?
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.
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Ford claims to have liquidity. I love that term.
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If GM restructures a bit, they'll do just fine, they're not as close to bankruptcy as some might think
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Legacy costs are a real PITA.
If it was as simple as a restructure why havent they done so already? |
Originally Posted by Logical Heritic
(Post 6390172)
Legacy costs are a real PITA.
If it was as simple as a restructure why havent they done so already? |
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.
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