Ford posts an unexpected profit of $997 million
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- Chique
- added this
The carmaker also said it increased its cash reserves by $2.8 billion during the quarter, ending September with $23.8 billion.
For all of 2009, Ford, the only Detroit automaker to avoid bankruptcy this year, has had a profit of more than $1.8 billion. It reported $834 million of income in the first half of the year.
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- current89
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pakazak
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"The earnings came despite an $800 million revenue drop. But Ford said it cut costs by $1 billion during the quarter, accomplished through layoffs in North America and Europe, reduced pension and retiree health care costs and improvements in productivity and product development."
notice the phrases " layoffs in North America and Europe, reduced pension and retiree health care costs"
know anyone who used to work at Ford? ah well, tough shit for you, eh?
- 2 years ago
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pakazak
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mario_a
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@Chique -- Sorry about this. Your story was believed to be the first version of the Ford profit story submitted to Current.com. After we featured it, we found that Bansheewail's version was posted 13 minutes before yours. Apologies for the confusion.
mario
online communityBansheewail's post: http://current.com/items/91354285_surprise-cost-cutting-boosts-fords-profits-to-...
- 2 years ago
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mario_a
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Chique
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mario_a:
No problem Mario, just voted Bansheewail's post up!
- 2 years ago
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Chique
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samthesixth
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A reflection of Americans identifying with the one American car company that did not take the "executive enrichment" monies.
- 2 years ago
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samthesixth
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pakazak
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after having owned my share of fords, i'll take something else
- 2 years ago
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pakazak
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furryjenn
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maybe the "clash for clunkers" worked out for both production and consumer
- 2 years ago
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furryjenn
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nursediesel
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Way to go, FORD Motors. Didn't take the government bailout money so the only free Market (American) car manufacturer left. Yes, yes, yes...... Only car many Americans will now ever even consider buying!!!
- 2 years ago
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nursediesel
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current89
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Great news, looks like cash for clunkers paid off (now come the denials).
- 2 years ago
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current89
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pakazak
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current89:
and to the professional 'nattering naysayers of negativity' , i would like to add a pre-emptive 'bite me', because it may be true that all of Ford's profit for the quarter isn't attributable to C for C, it got people out and looking at cars.
- 2 years ago
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pakazak
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Chique
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$834 first half (1st & 2nd Qtr, 09), $997 third quarter 09 = 1.8 Billion YTD
- 2 years ago
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Chique
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Westnewport
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This says "first profitable quarter in 4+ years"... then it says for YTD > $1.8b profit... then it says only $834m of INCOME in 1st half of the year.
Is this sh*t fiction made up by some idiot writing a story or what?? This needs to be made more clear that they are talking about "in America" and elsewhere.
- 2 years ago
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Westnewport
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Chique
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Westnewport:
Who knows, but their math is correct.
- 2 years ago
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Chique
