Ford Today...
11/7/08, 05:41 AM
#1
Team Mustang Source
Thread Starter
Ford Today...
Ford Losses
3rd Quarter Earnings Report
-$3 billion operating loss
-Will cut 10% of salaried workers
-Will cut 2,600 more hourly jobs
-Car sales plunge 25%
3rd Quarter Earnings Report
-$3 billion operating loss
-Will cut 10% of salaried workers
-Will cut 2,600 more hourly jobs
-Car sales plunge 25%
11/7/08, 06:20 AM
#3
Closet American
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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 >>
11/7/08, 06:29 AM
#4
Shelby GT350 Member
Here is a sentence from an article
*Ford announced that some of its vehicle programs will be deferred, although the company described the moves as minor timing changes.*
*Ford announced that some of its vehicle programs will be deferred, although the company described the moves as minor timing changes.*
11/7/08, 06:41 AM
#5
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 >>
11/7/08, 07:14 AM
#6
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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.
11/7/08, 07:24 AM
#7
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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."
11/7/08, 07:37 AM
#8
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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.
11/7/08, 09:07 AM
#11
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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. 
11/7/08, 12:20 PM
#12
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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.
11/7/08, 01:34 PM
#13
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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.
11/7/08, 03:11 PM
#15
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No, it is not.
11/7/08, 03:15 PM
#16
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Was thinking the same thing myself. This isn't really related to 2010 in much of any shape.
11/7/08, 03:55 PM
#18
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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.
