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Ford Surprises With $1B Profit; Sees Profit in '11
ABC News ^ | 2 Nov 2009 | TOM KRISHER and DEE-ANN DURBIN

Posted on 11/02/2009 6:03:56 AM PST by Rummyfan

Ford, 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. The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer.

Ford's shares rose 58 cents, or 8.3 percent, to $7.58 in pre-market trading. 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. Dearborn, Mich.-based Ford reported third-quarter net income of $997 million, or 29 cents per share.

(Excerpt) Read more at abcnews.go.com ...


TOPICS: News/Current Events
KEYWORDS: automakers; ford; fordmotor
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1 posted on 11/02/2009 6:03:57 AM PST by Rummyfan
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To: Rummyfan
Ford, 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.

It's almost as if Capitolism works better than fascism. However, the Democrats cannot stand to hear facts that disagree with their world view - so they will put their fingers in their ears, close their eyes and ignore this little bit (actually, only bit) of good news coming from the US Automotive indusry.

2 posted on 11/02/2009 6:06:25 AM PST by Hodar (Who needs laws .... when this "feels" so right?)
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To: Rummyfan

Good for them! Take that Government Motors!


3 posted on 11/02/2009 6:06:41 AM PST by cblue55
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To: Rummyfan

I’m not surprised.


4 posted on 11/02/2009 6:06:56 AM PST by TaxPayer2000 (The United States shall guarantee to every state in this union a republican form of government,)
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To: Rummyfan
And I helped.
5 posted on 11/02/2009 6:08:20 AM PST by wolfcreek (http://www.youtube.com/watch?v=Lsd7DGqVSIc)
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To: Rummyfan

The UAW will fix this unfortunate situation.


6 posted on 11/02/2009 6:09:30 AM PST by Tijeras_Slim (Live jubtabulously!)
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To: Rummyfan
IN the spirit of Obama economics shouldn't Ford have to spread some of that financial success around, to help out the less successful car companies that have been unfairly treated by the public?
7 posted on 11/02/2009 6:09:44 AM PST by pieceofthepuzzle
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To: Hodar

Won’t last long... remember, the UAW members voted to not accept the contract that the union leadership endorsed. They want MORE MORE MORE...


8 posted on 11/02/2009 6:11:58 AM PST by TheBattman (Pray for our country...)
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To: Rummyfan

I’m a Chevy guy, but if I was in the market for a new truck, I doubt seriously I would buy Government Motors.


9 posted on 11/02/2009 6:12:12 AM PST by TexasCajun
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To: Rummyfan

I think my next car may just be a Ford. I fear that the government may find a way to penalize them, though, either through a “non-bailout receiver’s tax” or a heft surcharge that bailout recipients are somehow exempt from.


10 posted on 11/02/2009 6:18:01 AM PST by SlowBoat407 (Achtung. preparen zie fur die obamahopenchangen.)
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To: Rummyfan
Whenever I see someone driving a welfare auto, I can't help but think they live on some kind of social program. Welfare breeds welfare.
"That which is like unto itself is drawn."
11 posted on 11/02/2009 6:18:43 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: TexasCajun

“I’m a Chevy guy, but if I was in the market for a new truck, I doubt seriously I would buy Government Motors.”

I’m a Chevy guy too. I still own an old Corvette. I will not buy a new GM product, not for the forseeable future. I do own stock in Ford, and will look at Fords first.


12 posted on 11/02/2009 6:19:29 AM PST by brownsfan (The average American: Uninformed, and unconcerned.)
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To: Rummyfan
"Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income "

If you understand the first part of that sentence, the second part isn't a "surprise."

13 posted on 11/02/2009 6:20:17 AM PST by Psycho_Bunny (ALSO SPRACH ZEROTHUSTRA)
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To: Hodar
It's almost as if Capitolism works better than fascism. However, the Democrats cannot stand to hear facts that disagree with their world view .......................................................................................................................................................................................... I'm sure Zero and his minions will "audit" Ford, add restrictions and make it very difficult for them to prosper from here on out....
14 posted on 11/02/2009 6:20:23 AM PST by mikelets456
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To: Rummyfan

Glad to see the only American manufacturer that did not belly up to Obamamobile is doing well.


15 posted on 11/02/2009 6:20:55 AM PST by ontap
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To: Hodar

More likely, they will tax the “obscene profits” of Ford or put such regulation on it that they have to pass the costs onto the consumer and drive customers away.

All because they want their Government Motors program to not fail.


16 posted on 11/02/2009 6:23:19 AM PST by taxcontrol
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To: TheBattman
Won’t last long... remember, the UAW members voted to not accept the contract that the union leadership endorsed. They want MORE MORE MORE...

Ford should tell them to go pound sand. There are plenty of jobless people out there ready to step in.

17 posted on 11/02/2009 6:24:04 AM PST by jersey117
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To: Rummyfan
I own two chevy's...both 2001 vintage...they're paid off, in good shape, and I'll be keeping them for a while now; but, when I do decide to upgrade I will never again buy a Government Motors product. Probably not a UAW product either...I just don't have it in me to support those obama supporting @$$holes.

I think a lot of people feel this way, and that was a major contributing factor in the good numbers from Ford.

Ford's success and GM's fall is another prime example of my late Father's favorite saying, "You are only enslaved to the extent of charity that you receive."


18 posted on 11/02/2009 6:26:22 AM PST by FrankR (To Congress: You cram it down our throats in '09, We'll shove it up your ass in '10!)
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To: Rummyfan
Folks...

I'll say it again, here is Sarah's VP Candidate.

My auto gnome tells me for quite a while that the H20 Cooler talk has been does this guy have a political future.

Also...

Shame on the UAW.

"If Alan Mulally is ok with his pay so are we". Dumb @$$es. Mulally is akin to a Ted Williams, Joe Dimaggio, and Tiger Woods. These silly rabbits on the line are probably good people, but they are not .350 hitters, they are replace-able and cannot command their pay given the competitve cost structures worldwide. Shame on them for not knowing basic Econ and Accounting....

19 posted on 11/02/2009 6:33:34 AM PST by taildragger (Palin/Mulally 2012)
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To: jersey117
Ford should tell them to go pound sand. There are plenty of jobless people out there ready to step in.

Unfortunately, that is not an option. Their pants are located in union states - they can't just fire them - by law.

Second, even with the supposed profit, it costs a LOT to move a factory to a right-to-work state, train a whole new work force, and start all over. Far more than ANY creditor is going to give ANY auto maker at this point in the game.

20 posted on 11/02/2009 6:58:32 AM PST by TheBattman (Pray for our country...)
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To: TheBattman

“Won’t last long... remember, the UAW members voted to not accept the contract that the union leadership endorsed. They want MORE MORE MORE...”

I think it is more a matter of they don’t want cut, cut, cut. Normally, I would agree that since the unions tend to sync benefits and pay amongst the auto makers that the union should bite it, but in this case since gm and chrysler are not exactly doing anything free market, the Ford agreement should stand alone. I do find it interesting how aggressive unions are in this crappy economy. The Safeway talks are in a similar boat.


21 posted on 11/02/2009 6:58:48 AM PST by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: TheBattman

That’s true. But it seems like a reasonable ten- or fifteen- year plan.


22 posted on 11/02/2009 7:03:17 AM PST by B Knotts (Calvin Coolidge Republican)
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To: B Knotts

I think I would be putting very public plans together to move manufacturing to more business-friendly areas. This would make a good bargaining chip, I would think.


23 posted on 11/02/2009 7:11:30 AM PST by TheBattman (Pray for our country...)
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To: TheBattman

train a whole new work force, and start all over

Might not be that much of a problem as many facing no job would probably move with the company I know if I had that choice I would move with them.


24 posted on 11/02/2009 7:12:35 AM PST by bikerman (Buck Farack)
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To: Rummyfan
One can imagine the petty and pathetic Odinga getting red with seething rage at the thought of an American buying one of these beauties:


25 posted on 11/02/2009 7:18:49 AM PST by GI Joe Fan (GI Joe represents Real American Heroes, not a bunch of globalist drones.)
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To: wolfcreek

Me, I’ve driven Fords for 30 years.


26 posted on 11/02/2009 7:19:14 AM PST by varina davis (Life is not a dress rehearsal)
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To: Hodar
It's almost as if Capitalism works better than fascism...

You have summed it up in one sentence! Look for the Obamoids to find some way to punish Ford for its success. And what does this tell us about the upcoming health care fiasco? I wonder if all those people standing in line to get their kids' flu shots are having second thoughts about putting the government in control of the whole shebang.

27 posted on 11/02/2009 7:19:50 AM PST by La Lydia
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To: Rummyfan

I think it just may be time for me to buy my first Ford truck. Just a year ago, the thought would have been unthinkable.


28 posted on 11/02/2009 7:21:34 AM PST by FourPeas (Why does Professor Presbury's wolfhound, Roy, endeavour to bite him?)
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To: jersey117

They should abandon Detroit, buy up the Saturn factories in the south at twenty cents on the dollar, and break the unions by any means necessary.


29 posted on 11/02/2009 7:23:14 AM PST by ccmay (Too much Law; not enough Order.)
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To: Rummyfan
Meanwhile.....

UAW Won't Bargain Again As More Members Reject Ford Concessions

30 posted on 11/02/2009 7:24:50 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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To: Rummyfan

The filthy UAW will be all over this with their greedy little communist hands.


31 posted on 11/02/2009 7:27:09 AM PST by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: mewzilla

Sorry I did not see your post!


32 posted on 11/02/2009 7:27:57 AM PST by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: Rummyfan
Ford, 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.

IMO the only surprise is that the Obamaconomy didn't drag Ford down further.

33 posted on 11/02/2009 7:32:16 AM PST by Alex Murphy ("Though He slay me, yet will I trust Him" - Job 13:15)
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To: GI Joe Fan

And if rumors are true and it gets the “Eco-Boost” engine, it will get good mileage and be fun. That will drive his socialist butt crazy.


34 posted on 11/02/2009 7:32:23 AM PST by taildragger (Palin/Mulally 2012)
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To: Cheetahcat
Our neighbors to the North have more sense...

Ford concessions accepted in vote

More on the UAW here...

Bailout Nation Mentality: Ford Workers Reject Further Concessions

35 posted on 11/02/2009 7:35:35 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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To: TheBattman
Yeah, they rejected contract changes today, mostly because they wanted to keep the right to strike. They're not trying to get more money at this time. They want to keep the contract they have now, which pays far more than the pay for similar work in other industries. Yet somehow these UAW guys can never figure out why jobs keep moving overseas and into non-union auto companies in the south.

The whole idea of collective bargaining over pay by labor is seriously flawed, because it moves factory workers into management and gives them great power to determine their own pay and labor costs. But the problem is that factory workers don't understand much about corporate strategy and the need to be competitive with foreign companies. So effectively moving factory workers into management has had devastating consequences for many companies, including GM. This problem got so bad that Caterpillar had to simply refuse to agree to the UAW's demands for higher pay and endured a long strike before letting the UAW workers return under their previous contract terms. Cat is just fortunate that they don't have much competition from US companies, otherwise the unions would have struck against them to pull market share away from them into other US companies, to put extra pressure on Cat. This is how they always attacked the auto companies, by screwing one company to force it into a bad contract, then going after the other companies for a similar deal.

Congress is bought and paid for by labor unions, who have no business having so much power to manage corporations. If they want to get into management, the unions should start their own companies and see if they can find anyone who wants to invest in those companies.

36 posted on 11/02/2009 7:51:00 AM PST by your local physicist (If the Canadians and Brazilians can drill for oil off their Atlantic coast, why can't we?)
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To: your local physicist

The White House is also currently bought and paid for by labor unions, and that could end up costing a lot of good American jobs that could move overseas.


37 posted on 11/02/2009 7:52:20 AM PST by your local physicist (If the Canadians and Brazilians can drill for oil off their Atlantic coast, why can't we?)
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To: Rummyfan

Dear Harry:

The embarrassing profits shown by the rogue Ford Motor Company should be taxed as windfall and channeled to the union victims of Ford’s corporate greed. I have directed that legislation be crafted by one of the associations run by Obama’s czars to this effect. Please include the provided language in a non-related bill scheduled for a Friday vote.

Cordially,

Nancy


38 posted on 11/02/2009 8:05:10 AM PST by spodefly (This is my tag line. There are many like it, but this one is mine.)
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To: spodefly

Every time I hear her talk about “immoral profits” I have to go outside and walk around the block to cool off. If she thinks business profits are immoral then the logical conclusion is that she’s really a Marxist and believes in a state-run communist economic system. And that woman is Speaker of the House?!! How did this happen? People in SF are insane now.


39 posted on 11/02/2009 8:23:20 AM PST by your local physicist (If the Canadians and Brazilians can drill for oil off their Atlantic coast, why can't we?)
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To: Rummyfan

I don’t know about anyone else, but I’m rooting for Ford. It goes far beyond not wanting to buy from Government Motors too.

Capitalism is hands down the best economic system in the world. There’s isn’t a prayer of a chance I would buy from a Fascist business, when there’s a good Capitalist business down the block.

Communism, no! Capitalism, yes!

If anyone thinks I would contribute to Communism being seen as a better bet than Capitalism, they need to think again.


40 posted on 11/02/2009 8:30:53 AM PST by DoughtyOne (Unseal the lock box containing every document pertaining to Obama's life, TODAY!)
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To: TexasCajun; brownsfan

...welcome Chevy guys!....say goodbye to the Govt Motors Dark Side forever....and btw, I too am a Ford stock owner...I’ve owned Ford pick-ups since 1965, but drove Chevy Impalas for 28 years when I was selling on the road....but that’s not why I bought the stock...I bought the stock because I liked their prospects and really admired the fact that they had the balls to go it alone without the government interfering...I’m pulling for them to make even more money in the coming years just to rub it in Obama’s face.
Stonewalls, driving my new F-150 to town today to pick up some bales of straw.


41 posted on 11/02/2009 8:39:03 AM PST by STONEWALLS
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To: Rummyfan

Ford is all I ever bought and that will be my next car in 2011.

Drive the Ford 500. Love it.

Looking forward to driving the new Ford Taurus with 365 HP and all the other goodies it comes with such as laser and warning for blind spot.


42 posted on 11/02/2009 8:43:24 AM PST by Vendome (Don't take life so seriously... You'll never live through it.)
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To: Rummyfan

I just helped Ford’s Q4 numbers. Have a nice shiny 2010 Mustang GT.

Looked at the new Camaro - and loved it, GM has a winner in that car. It was nice enough I was actually willing to hold my nose and help Government Motors.

But, bottom line, Ford made me a deal I could not pass up.

Chevy refused to match and lost the sale over a difference of less than $1000 on the sale of a $30000 automobile.

And that is the bottom line, Ford did what they needed to do to make the sale and make thier customer happy. Including a direct quote, “You tell us what we need to do to close this sale”. Chevy said “this is our price take it or leave it”


43 posted on 11/02/2009 8:48:14 AM PST by commish (Freedom tastes sweetest to those who have fought to preserve it.)
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To: mewzilla
Our neighbors to the North have more sense...
Ford concessions accepted in vote

More on the UAW here...

Bailout Nation Mentality: Ford Workers Reject Further Concessions." Amazing the most easily replaced have the biggest mouth.

44 posted on 11/02/2009 9:08:34 AM PST by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: Rummyfan

Good for Ford to show a profit. My problem is why could Ford opt out of a bailout fiat dollars when a bank like Wells Fargo could not. A gun was held to there head to take the money. Why not Ford? What now will the Union do? If the union screws around with Ford, there will be a big outlash against them. About time.


45 posted on 11/02/2009 3:39:48 PM PST by hkp123
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To: Rummyfan
And Ford will soon have two new models to bolster its bottom line:

Ford Fiesta (hatchback and sedan models shown here):

Ford Focus ("photochop" of the 2011 model):


46 posted on 11/02/2009 8:44:08 PM PST by RayChuang88 (FairTax: America's economic cure)
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To: RayChuang88

No thank you.. Ford, like the others have supported all the leftist garbage I hate...


47 posted on 11/02/2009 8:47:35 PM PST by Sir Francis Dashwood (Arjuna, why have you have dropped your bow???)
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To: RayChuang88

Those pip-squeek cars are good for nothing but single person commuting. - They can’t carry anything, and they’re basically unsafe because they must share the road with real vehicles (trucks, SUVs, Semi-tractors)


48 posted on 11/02/2009 8:53:18 PM PST by editor-surveyor (The beginning of the O'Bomb-a administration looks a lot like the end of the Nixon administration)
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To: editor-surveyor
They can’t carry anything, and they’re basically unsafe because they must share the road with real vehicles (trucks, SUVs, Semi-tractors)

That would almost be true ten years ago, but the current models from Ford of Europe are actually very nice vehicles that are quite safe (remember, European automakers have dramatically improved automotive safety since 1997, when the European New Car Assessment Programme (EuroNCAP) safety tests started). I recent had a chance to sit in one of the Fiesta Movement Ford Fiesta five-door hatchback test cars and was amazed by the amount of interior space considering how small the car is. Indeed, the Fiesta is going to be a HOT seller once the car arrives in dealerships around May 2010.

49 posted on 11/03/2009 3:40:43 AM PST by RayChuang88 (FairTax: America's economic cure)
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To: RayChuang88

Spend some time in an impound lot or a wrecking yard, and then tell me how safe these tinfoil balls are.

I’m a fan of Ford products, but realism is a virtue in this area.


50 posted on 11/03/2009 10:45:48 AM PST by editor-surveyor (The beginning of the O'Bomb-a administration looks a lot like the end of the Nixon administration)
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