$1Billion 3rd quarter profit at Ford

bail_out_car_dealerFord, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a “solidly profitable” 2011.

Really, only proving that if the govt stayed out of things, companies would either survive or fall on their own. Although there is the cash for clunkers program which helped.

But anywhos….

The latest results signal that Ford’s turnaround is on more solid ground. The company lost more than $14.6 billion last year and hasn’t posted a full-year profit since 2005. While it made a profit in the second quarter, that was mainly due to debt reductions that cut its interest payments.

Hmmm, wonder when I get my interest payments cut, becuase it sure is not falling down to the common man even though they are using my tax money to bail them out.

Published in: on November 2, 2009 at 8:10 am  Leave a Comment  
Tags: , , , ,

The URI to TrackBack this entry is: https://pottokettle.wordpress.com/2009/11/02/1billion-3rd-quarter-profit-at-ford/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: