Skip to comments.Ford Posts First Annual Profit In 4 Years
Posted on 01/28/2010 4:38:36 AM PST by ButThreeLeftsDo
Ford Motor Co. says it made $2.7 billion in 2009, its first annual profit in four years.
Ford says it benefited from cost-cutting, debt reduction and popular cars and trucks like the Ford Fusion sedan and Escape SUV. It's enjoying customer goodwill for avoiding bankruptcy and refusing federal aid.
Ford's net income of 86 cents per share rose from the year before, when it lost a record $14.6 billion.
(Excerpt) Read more at wcco.com ...
Man I should have held my Ford stock. Bought it at 4.00. It’ll go to 14+ i’m sure.
One of the pro0bamao pundits used Ford for proving the stimulus worked. He said “...with Ford and GM restoring or gaining thousands of jobs...”. I jumped out of my chair screaming, but no one called him on this.
It’s pushing 12 in pre-market....
Smart move by Ford. They are not beholden to obama and the government.
Ford’s new products are sleek and very stylish. The 2010 Focus and Taurus are awesome cars. The fiancee drove a Focus and loved it. Hopefully they’ll get the prices down as they start pushing away from the Unions.
When it’s time to get a new car I know that it will be a Ford. No way will I ever buy a GM or Chrysler product again.
Haven’t they already done that? Seem to recall they closed their last U.S. plant in St. Louis a couple of years ago. The Crown Vic/Marquis are still made in Canada; but the rest of the line comes from Mexico and other foriegn sources.
As the only American auto maker NOT run by the government, they’re gonna continue with the profits til said government decides it’s too much and starts confiscating these profits.
And Ford will now be right in Husseins cross hairs! How DARE the manufacturer refuse his generous offer to confiscate its assets and turn them over to the UAW!
I bought a new Suburban during the Great Soros Panic in October 2008. It will be the last GM product I ever own.
“...the rest of the line comes from Mexico and other foriegn sources.”
Where did you hear that? Ford has plants in Flat Rock, Michigan, Buffalo, New York, Chicago and also Chicago Heights, Illinois, three in Brook Park, Ohio, three in Dearborn and one in Detroit, Michigan, Claycomo, Missouri, two in Louisville, Kentucky, Lima, Ohio, Ivonia, Michigan, Wayne, Michigan, Allen Park, Michigan, Ypsilanti, Michigan, Romeo, Michigan, Sharonville, Ohio, St. Paul, Minnesota, Walton Hills, Ohio, Wayne, Michigan, and two in Michigan, Woodhaven.
That last one should have read Woodhaven, Michigan.
That’s bizzare; those would have to be unionized plants. Ford couldn’t turn a profit with unionized plants. They’re probably just robotized assembly plants, not actual parts manufacturing plants.
Furthermore, those plants include both component manufacture and whole auto assembly. The Buffalo, New York plant makes sheet metal body panel stampings, the one in Brook Park, Ohio is a casting facility that makes engine blocks and crankshafts, while the Kansas City Assembly puts out a variety of products including the F-150, Escape, Contour etc. and the Chicago Assembly Plant makes the new Ford Explorer, for example.