Ford Today...
Closet American
Joined: July 17, 2005
Posts: 5,851
Likes: 1
From: Vancouver, BC (Hollywood North)
This kind of a bleed usually precipitates imminent death. Especially given that the current economic doldrums aren't likely to end anytime soon, and in fact, likely to worsen before things get better.
The additional bailout package that the Congress looks willing to give GM and Ford may be their only hope left for survival >>
The additional bailout package that the Congress looks willing to give GM and Ford may be their only hope left for survival >>
Team Mustang Source
Joined: January 29, 2004
Posts: 2,358
Likes: 1
This kind of a bleed usually precipitates imminent death. Especially given that the current economic doldrums aren't likely to end anytime soon, and in fact, likely to worsen before things get better.
The additional bailout package that the Congress looks willing to give GM and Ford may be their only hope left for survival >>
The additional bailout package that the Congress looks willing to give GM and Ford may be their only hope left for survival >>
Mach 1 Member
Joined: July 24, 2008
Posts: 937
Likes: 0
From: Traverse City
I think Ford will be fine, and indeed would be so even without the the aid package, if the economic downturn ends in relatively short order. However, as we've discussed before I think GM is in far worse shape and at this point am uncertain whether GM can remain viable for much longer even if the economy does indeed rebound quickly and they get the aid package. In fact, at this point, given what I have seen in your posts, I think you suspect what I do which is that GM is already a 'dead man walking'. I hope I'm wrong.
Member
Joined: February 2, 2004
Posts: 21
Likes: 0
It's not quite as bad as it seems.
From Autoblog: http://www.autoblog.com/2008/11/07/f...n-and-job-cut/
"Ford Motor Company this morning announced a third quarter loss of $129 million and pre-tax loss of $2.7 billion if we're not counting special items like $2 billion in savings from shifting responsibility for retiree health care to the UAW-run VEBA account. Ford, however, says it remains on track with its turnaround plan and has $18.9 billion in cash on hand, lines of credit worth $10.7 billion and overall liquidity of $29.6 billion."
From Autoblog: http://www.autoblog.com/2008/11/07/f...n-and-job-cut/
"Ford Motor Company this morning announced a third quarter loss of $129 million and pre-tax loss of $2.7 billion if we're not counting special items like $2 billion in savings from shifting responsibility for retiree health care to the UAW-run VEBA account. Ford, however, says it remains on track with its turnaround plan and has $18.9 billion in cash on hand, lines of credit worth $10.7 billion and overall liquidity of $29.6 billion."
Bullitt Member
Joined: July 29, 2007
Posts: 277
Likes: 0
Its not just Ford. Unemployment figures are due out today. What industry isn't laying workers off? I knew when big, U.S. owned companies took manufacturing overseas or just sold themselves to foreign ownership, we, as Americans, were in deep trouble. Nope, Ford is not alone.
Team Mustang Source
Joined: June 19, 2004
Posts: 6,840
Likes: 2
From: Phoenixville, PA
Chrysler is in DEEP water right now. Cerberus got way in over their head, with that purchase, and they want out NOW! I know from 1st hand account that floor traffic isn't anywhere near what it used to be, and people are downright scared right now to spend ANY money! They don't know what is going to happen. 
Member
Joined: September 24, 2007
Posts: 21
Likes: 0
I live in the west suburbs of Chicago. We've lost 2 Dodge dealers within 5 miles of me, both closed over a year ago. We lost a couple of Lincoln/Mercury dealers too, and I understand that Ford is trying to thin out the heard as there are 11 Ford dealers in a 10 mile radius. The sad thing is the smaller, high quality dealers will close while the high volume low service dealers will stay open. Most of the GM dealers are combining Buick/Cadillac/Pontiac dealers.
I'm no fan of Chrysler but they have a place in the industry. I'd hate to see them gobbled up by GM.
I'm no fan of Chrysler but they have a place in the industry. I'd hate to see them gobbled up by GM.
Shelby GT500 Member
Joined: September 2, 2004
Posts: 2,594
Likes: 0
From: Chicago
In terms of liquidity, yes. Ford, GM, and Chrysler are really in a tough rut. This economy is only going to get worse before it gets better. Bankruptcy might be a good option in dealing with the UAW. Getting rid of the UAW is a start in returning to black.
Tasca Super Boss 429 Member
Joined: February 1, 2004
Posts: 3,751
Likes: 0
No, it is not.
Was thinking the same thing myself. This isn't really related to 2010 in much of any shape.
Closet American
Joined: July 17, 2005
Posts: 5,851
Likes: 1
From: Vancouver, BC (Hollywood North)
I think GM is in far worse shape and at this point am uncertain whether GM can remain viable for much longer even if the economy does indeed rebound quickly and they get the aid package. In fact, at this point, given what I have seen in your posts, I think you suspect what I do which is that GM is already a 'dead man walking'. I hope I'm wrong.
