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Ford swings to $2.7 billion profit
CNN Money web page ^ | July 23, 2010

Posted on 07/23/2010 5:03:41 AM PDT by RayChuang88

NEW YORK (CNNMoney.com) -- Ford Motor earned $2.7 billion in the second quarter, reversing from an operating loss in the prior year's quarter and easily topping estimates.

The automaker earned 68 cents a share, excluding special items. That compares to a loss of $638 million, or 21 cents a share, on the same basis in the year earlier quarter.

The consensus forecast of analysts surveyed by Thomson Reuters was for earnings of 40 cents a share. Ford easily topped even the most bullish forecast of a 48 cent a share profit.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: automobile; business; ford; profit
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Because of Ford's incredible luck in securing that US$23 billion product development loan in 2006, they never had to follow the whims of President Obama's "car czar" and now are starting to release products in the USA that are fun to drive and still be reasonably fuel efficient. The new Ford Fiesta has a LONG waiting list if you want to get one right now.

It also allowed Ford to begin the process of merging its US and European products lines, so by 2012 Ford's automotive product line outside of its pickup trucks will pretty much be the same as its highly-regarded European product line. And Ford will likely offer both all-electric and plug-in hybrid vehicles on a large scale long before most everyone else does--and not at nosebleed prices like what GM wants with the Chevrolet Volt.

1 posted on 07/23/2010 5:03:44 AM PDT by RayChuang88
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To: RayChuang88

How come we taxpayers own GM instead of Ford??


2 posted on 07/23/2010 5:06:01 AM PDT by Sacajaweau (What)
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To: RayChuang88

The American spirit triumphs over the American government. Bravo. I hope that mucked up debt issuance was just to refinance and not a key capital raise to continue growing again. Otherwise Dodd et al may get the last laugh.


3 posted on 07/23/2010 5:08:00 AM PDT by major-pelham
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To: Sacajaweau

Because they took Obama’s bail out trap,with the Ford news today I bet Obama’s dog got kicked .


4 posted on 07/23/2010 5:13:49 AM PDT by Vaduz
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To: RayChuang88

I think this also shows that there are a lot of people whom, like me, will never buy a product from either GM or Chrysler because of their unconstitutional takeover by the Government.


5 posted on 07/23/2010 5:15:38 AM PDT by OldMissileer (Atlas, Titan, Minuteman, PK. Winners of the Cold War)
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To: Springman; sergeantdave; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; ...
Photo Sharing and Video Hosting at Photobucket

If you would like to be added or dropped from the Michigan ping list, please freepmail me.

6 posted on 07/23/2010 5:15:44 AM PDT by grellis (I am Jill's overwhelming sense of disgust.)
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To: Sacajaweau
How come we taxpayers own GM instead of Ford??

Because if we owned Ford instead of GM, it would be GM experiencing an up trend. ;-)

If my next car is American-made, it'll be a Ford. Anything by Chrysler or GM is off the table, not even going to be considered. The only reason I wouldn't go with a Ford would be based on price/performance/features/quality - they'll have to compete-for and win my dollars. You know, that free market system/idea that seems to escape our "liberal" friends. (or cause them to recoil in horror)

7 posted on 07/23/2010 5:19:08 AM PDT by ThunderSleeps (obama out now! I'll keep my money, my guns, and my freedom - you can keep the change.)
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To: RayChuang88

Ford has done an AMAZING turn around since the 1970’s, when their cars were nothing more than rolling piles of junk.

I remember a 1973 Ford LTD my Dad bought. Biggest POS I’ve ever seen. We had every imaginable kind of trouble with that car, and my Dad finally threw in the towel and found some sucker to buy it.

I now own a Ford Fusion, and it is one of the best cars I’ve ever had.

Kudos to you, Ford.


8 posted on 07/23/2010 5:19:36 AM PDT by reagan_fanatic (Never trust anyone who points their rear end at God while praying.)
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To: Sacajaweau

The govt always makes LOSING bets!


9 posted on 07/23/2010 5:21:03 AM PDT by Red in Blue PA (Anti-Gunners suffer from Factose Intolerance)
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To: RayChuang88

They also sold Hertz for 15 billion, hired a CEO who is very smart. Someone needs to pass that info on to harry reed. The old fool claimed that congress saved them.


10 posted on 07/23/2010 5:22:05 AM PDT by reefdiver ("Let His day's be few And another takes His office")
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To: RayChuang88

I think I read last week that the UAW (crime syndicate)
was going to go after Ford Mo.Co. with hammer and sickle.
They have targeted FMC for major wage-benefit increases.
This will cause what little manufacturing left in our
country to flee off-shore. This is what the leftist
want, a cripple America using crutches so the rest of
the world can catch up. It is all about “fairness”,
don’t ya know.


11 posted on 07/23/2010 5:24:27 AM PDT by Doulos1 (Bitter Clinger Forever)
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To: reagan_fanatic

Agreed about the turn around. My parents bought an ‘80 Mustang - 2.3 liter engine. That thing felt like it had a lawnmower engine. High reving, going nowhere fast. Cheap interior...I remember I would punch the accelerator to overtake a car, and it literally would seem that the car was slowing down. That experience tainted our family forever in regards to Ford. There was nothing at the time that Ford produced was any good - Ford Fairmont, Granada, Thunderbird...All pieces of junk...

They have come a long way...


12 posted on 07/23/2010 5:28:23 AM PDT by Maringa
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To: OldMissileer
I think this also shows that there are a lot of people whom, like me, will never buy a product from either GM or Chrysler because of their unconstitutional takeover by the Government.

I won't even rent one. Three weeks ago I flew into Durango, CO, to stop for the night and needed to rent a car. Avis tried to stick me with a Chevy and I refused.

13 posted on 07/23/2010 5:29:57 AM PDT by Thermalseeker (Stop the insanity - Flush Congress!)
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To: RayChuang88
You see what happens when Ford takes the bailout money and turns itself over to government control?

Er, what a minute...this couldn't have possibly happened! Everybody knows that only the government can profitably run an auto company...not big business!

14 posted on 07/23/2010 5:40:06 AM PDT by Redleg Duke (RAT Hunting Season started the evening of March 21st, 2010!)
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To: RayChuang88

Go FORD! Wish I could afford a new F-150. Nice trucks. My days with GM and Dodge are over for good!


15 posted on 07/23/2010 5:43:15 AM PDT by parthian shot
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To: Redleg Duke
I wanted to buy a Ford Fusion last year, but for three letters...UAW.

I bought a Toyota Prius (A death trap according to the Obama Administration) and now am suffering with a paltry 53 mpg on the highway and absolutely no problems.

It is a sacrifice, but we live in an era of sacrifice according to the Obama Administration.

If it hadn't been for Obama, I might have purchased an American-built auto.

16 posted on 07/23/2010 5:43:35 AM PDT by Redleg Duke (RAT Hunting Season started the evening of March 21st, 2010!)
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To: RayChuang88
As far as I'm concerned:



Still, I think I'll take a pass on the Fiesta - they really, really should have retired that name, considering what it's associated with:


17 posted on 07/23/2010 5:49:17 AM PDT by Oceander (The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
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To: Sacajaweau
How come we taxpayers own GM instead of Ford??

Because Ford has competent management and creates quality products that people want to buy. GM and Chrysler didn't.

18 posted on 07/23/2010 5:55:55 AM PDT by Non-Sequitur
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To: parthian shot
..a new F-150. Nice trucks.

We were out in SW Colorado last winter on a ski trip. I had to put my F-250 crew cab in the shop for a day. A nearby Avis office had an F-150 crew cab, so we rented it. What a nice truck! My F-250 is a '97 7.3L Powerstroke and I wouldn't take a gold monkey for it, but man, was that F-150 plush! Too bad it won't carry my truck camper....

19 posted on 07/23/2010 5:57:09 AM PDT by Thermalseeker (Stop the insanity - Flush Congress!)
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To: Sacajaweau
How come we taxpayers own GM instead of Ford??

We don't own squat. GM was bought by union/government thugs with OUR stolen tax money.

GM should be liquidated, and the proceeds should go to the stakeholders as outlined in standard bankruptcy proceedings.

I still won't allow one of their POS fascistmobiles to enter my driveway.

Go, Ford!

20 posted on 07/23/2010 6:01:27 AM PDT by meyer (Big government is the enemy of freedom.)
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To: reagan_fanatic

Love my Ford Escape!


21 posted on 07/23/2010 6:02:33 AM PDT by eCSMaster (He promised hope; he gave us hype. He promised change; he gave us chains!)
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To: eCSMaster
'Bout fixing to sell my Escape. It's been a great car, but it won't pull a trailer full of mulch or fill dirt up the inclines in my yard. Plenty of power, but no traction (front wheel drive). I just picked up a 2004 Dodge 4X4 truck with plenty of room in the bed, and a class 4 trailer hitch. It'll get the job done. I did stop by the Ford dealer a couple of weeks ago, looking at the F-150 and Ranger trucks. I scratched the Ranger off the list quickly, since they mileage they get in 4X4/V6 dress is about the same as the bigger F-150 truck.

In the end, price dictated that I buy neither. They are way too expensive for me, especially for my purposes.

Side issue - what ever happened to part-time 4WD where you can actually unlock the front hubs? These new systems, with the front gears always turning even if they aren't engaged in the transfer case, get pretty bad mileage.

Side issue 2 - why does a small pickup truck like the Ranger (and others) weigh 4000+ pounds? My 1983 Ranger weighed around 3000, and back then, a full-sized F-100 weighed around 4000 pounds.

22 posted on 07/23/2010 6:10:13 AM PDT by meyer (Big government is the enemy of freedom.)
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To: meyer

The proceeds should go to the ex-GM stock and bond holders who invested their life savings in the company. How did the UAW get to the front of the line ?


23 posted on 07/23/2010 6:12:08 AM PDT by Eric in the Ozarks (Impeachment !)
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To: reagan_fanatic

I “grew up Ford.” My dad worked there, I worked there, uncles, cousins, etc. Right now I have a 10 year old Explorer Sport Trak with under 70k miles. Still runs nice (if you’re ok with 12 mpg).


24 posted on 07/23/2010 6:13:36 AM PDT by sand lake bar
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To: Oceander

The European Fiesta looks like a sweet small car.


25 posted on 07/23/2010 6:14:07 AM PDT by C19fan
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To: OldMissileer

ditto


26 posted on 07/23/2010 6:18:37 AM PDT by domeika
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To: RayChuang88; All
If you look at my tagline I have been a fan of Mulally's for a long time.

Now here this....

It is just a matter of time before it is in the lame-stream media but it will probably start in the conservative media 1st.

At some point, people are going to look at Mulally's leadership skills and juxtapose them to Obama's and the logical question will be asked?

Is Mulally Presidential Timber?

My answer is yes.

A Ford gnome tells me watercooler talk for a long time has been this guy is so goos they ask the question, does he have a political future. I also here in the all hands on deck meetings he is starting to get a little political and ocasionally takes a shot @ Congress.

Remember this post, I do not think it is a question of if but as to when, especially if they continue to wittle down the debt and reinstate the dividend (which if you do the math, payback vs. what is left and the time frame in which they are doing it) in the next 2 years (potentially).

27 posted on 07/23/2010 6:18:37 AM PDT by taildragger ((Palin / Mulally 2012 ))
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To: Oceander
2011 Ford Fiesta (I'm not a fan of this color):


28 posted on 07/23/2010 6:20:08 AM PDT by the_devils_advocate_666
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To: Eric in the Ozarks
The proceeds should go to the ex-GM stock and bond holders who invested their life savings in the company. How did the UAW get to the front of the line ?

The chumps bought shares of or lent money to GM. Meanwhile the unions bought Democrat politicians. Guess which has a better return under the current regime.

29 posted on 07/23/2010 6:32:26 AM PDT by KarlInOhio (Gun control was originally to protect Klansmen from their victims. The basic reason hasn't changed.)
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To: RayChuang88

This is good news for GM. Remember, the own two auto companies and represent the UAW. Methinks the UAW will be visiting Ford soon the spread some of that new found wealth around.


30 posted on 07/23/2010 6:42:02 AM PDT by equalitybeforethelaw
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To: RayChuang88

You guys all saw this video yesterday, didn’t you?

http://www.realclearpolitics.com/video/2010/07/21/harry_reid_auto_bailout_probably_saved_ford.html

ROLTLMFAO !!!!


31 posted on 07/23/2010 6:50:34 AM PDT by rhoda_penmark
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To: reagan_fanatic
I remember a 1973 Ford LTD my Dad bought. Biggest POS I’ve ever seen.

I had a 1978 LTD same thing.

I had a 1992 Crown Vic. Great car 29mpg. Put over 150,000 miles on it before I sold it. I now have a 1997 Grand Marquis with 23,000 miles on it.So far a great car,25mpg highway.

32 posted on 07/23/2010 7:09:00 AM PDT by painter (No wonder democrats don't mind taxes.THEY DON'T PAY THEM !)
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To: RayChuang88

Maybe so, but IMHO, they ruined the ‘500’, first by renaming it Taurus, and now by making it butt ugly. Again, just my humble opinion, of course.


33 posted on 07/23/2010 7:13:56 AM PDT by dubyagee (Thrilled to be here...)
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To: Sacajaweau

Because the Ford family has been gradually reducing the outside ownership of its corporate shares by buying them back. This and the fact that Ford didn’t ask for any help during the downturn (be careful what you ask for...) helped keep it in private hands.


34 posted on 07/23/2010 7:26:53 AM PDT by Don W (I keep some folks' numbers in my 'phone just so I know NOT to answer when they call...)
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To: RayChuang88

I drive a Chevy Blazer now. When it gives up the ghost, my next car will be a Ford Escape. No more Gov’t Motors!! :-)


35 posted on 07/23/2010 7:42:49 AM PDT by TMA62 (TMA62)
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To: RayChuang88

I drive a Chevy Blazer now. When it gives up the ghost, my next car will be a Ford Escape. No more Gov’t Motors!! :-)


36 posted on 07/23/2010 7:43:00 AM PDT by TMA62 (TMA62)
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To: Thermalseeker; parthian shot

In 2007, I purchased a brand new 2006 GMC Canyon 4wd crew cab. It had a 5 cyl 3.5L engine, but enough room for my kids’ car seats, plus my wife and I.

About 2 months ago, it was totaled (meat between Explorer & dump trunk, no injuries). I resigned myself to getting a new vehicle, and promptly threw out any idea of getting a GMC, Dodge or Chrysler. That meant Ford or Toyota for a trunk.

I am driving a 2010 F150 FX4 crew cab 4wd. Just got back from a 2,400 mile ‘vacation’ in it (4 tanks of gas). I’m getting 18 MPG or so, and it’s just a remarkably comfortable vehicle. Nice bucket seats in the front, enough legroom in the back for grown men, and just a great all around vehicle. The bed’s only 5’ or so, but I don’t haul too much - the occasional fallen tree chopped up, and such, so it’ll do.

I don’t care for the payments, but it’s certainly worth the investment if I drive it 10+ years.


37 posted on 07/23/2010 7:44:19 AM PDT by Ro_Thunder (The press wants “Camelot II - The Return of JFK”, and not “Peanuts II - that’s all you’ll have)
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To: Ro_Thunder

My wife really liked the way the A/C ducts in the new F-150’s can be turned off entirely. She claims I freeze her every time we go somewhere. She usually brings a blanket. Seems like every time we do go somewhere I’m always sitting on the sunny side sweatin’ my patootie off and she’s in the shade freezing...


38 posted on 07/23/2010 7:48:09 AM PDT by Thermalseeker (Stop the insanity - Flush Congress!)
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To: Sacajaweau
How come we taxpayers own GM instead of Ford?? Because the government always knows what's best for us and does the right thing. It'll pick your doctors, too.
39 posted on 07/23/2010 8:02:07 AM PDT by TopQuark
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To: Ro_Thunder

trunk=truck.

Addendum - I was getting 18-19 MPG in the Canyon, and with a 75 mile round trip daily commute, would fill up every 3-4 days. I fill up once a week, but am using about the same amount - 18 MPG or so.


40 posted on 07/23/2010 8:03:18 AM PDT by Ro_Thunder (The press wants “Camelot II - The Return of JFK”, and not “Peanuts II - that’s all you’ll have)
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To: the_devils_advocate_666
Reminds me of a caricature of the bad guy in the first Toby McGuire “Spider Man” movie.
41 posted on 07/23/2010 10:00:37 AM PDT by OldMissileer (Atlas, Titan, Minuteman, PK. Winners of the Cold War)
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To: Doulos1

UAW go after Ford? they are already in bed with them.

Nope-—I and many others will never never buy any UAW crime syndicate vehicle.


42 posted on 07/23/2010 10:29:56 AM PDT by eleni121 (But now, he that has a moneybag take it; without a sword let him sell his garment, and buy one.)
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To: eleni121

I agree with you, they are in bed together,simply because
they found it easier to go along than fight.
The NLRB makes it nearly impossible to stand against
the unions. I can’t think of one instance where
the government owned (supposedly independent) NLRB
has ruled against the unions. So American auto makers
build factories in non-unionized factories in foreign
countries with lower corporate taxes and move production
there. The unions are nothing but parasites. We know
that too many parasites on a host, given enough
time, will kill the host. The only vibrant American
auto industry is in the “right to work states”
in the South or West. Toyota is right now building
their largest manufacturing plant in the US in Missi-
ssippi which will be non-union and have scheduled to
close the unionized plant in California.
Union have already marked the Miss. plant for
union wars. We must stand for “free-market capitalism”.
Unions are selfish by nature and destructive to the
core of US.


43 posted on 07/23/2010 10:56:03 AM PDT by Doulos1 (Bitter Clinger Forever)
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To: RayChuang88

Sold too early!!!!


44 posted on 07/23/2010 1:34:14 PM PDT by Fred (Suspend All Immigration Until Unemployment is Reduced to 5%)
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To: Redleg Duke
I wanted to buy a Ford Fusion last year, but for three letters...UAW.

I bought a Toyota Prius (A death trap according to the Obama Administration) and now am suffering with a paltry 53 mpg on the highway and absolutely no problems.

The Prius is built in Japan by members of the Tokyo Motor Workers' Union.

45 posted on 07/23/2010 3:39:31 PM PDT by Azzurri
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To: the_devils_advocate_666
I just talked with an owner of a brand-new 2011 Ford Fiesta SES hatchback with the new six-speed Powershift dual-clutch automatic. He told me it's probably the most fun car he's ever driven and has surprisingly good "pep," thanks to the smooth and fast-shifting transmission. If I had the money I'm getting on a waiting list to buy one.

Meanwhile, GM's "savior" car, the Chevrolet Cruze--won't arrive until October 2010, and the new Chevrolet Aveo that will directly compete against the Fiesta won't arrive until March of 2011....

46 posted on 07/23/2010 4:05:40 PM PDT by RayChuang88 (FairTax: America's economic cure)
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To: Azzurri
That's their problem, not mine!

Payback for Pearl Harbor!

47 posted on 07/23/2010 6:48:07 PM PDT by Redleg Duke (RAT Hunting Season started the evening of March 21st, 2010!)
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To: Azzurri
I see you are from Michigan.

How's that "Hope 'n Change" working out for you?

48 posted on 07/23/2010 6:50:08 PM PDT by Redleg Duke (RAT Hunting Season started the evening of March 21st, 2010!)
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To: C19fan

Taste is subjective, so I ain’t knockin’ yours in the least, just describing mine; that being said, I’ll reserve judgment because in my experience, little cars like that tend to have suspensions that are too jarring and that transmit too much road noise (as opposed to road feel, a different thing entirely) into the passenger cabin. I know it’s not a matter just of size, though, because I’ve driven small sports cars that did not suffer from the same defect. As far as I can tell, it’s basically an artifact of the McPherson strut suspension that the mass-market little cars all come with.


49 posted on 07/23/2010 8:18:08 PM PDT by Oceander (The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
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To: RayChuang88

Buy a Ford and you support the UAW. This is war folks. We’re losing in no small part because of leftist unions.


50 posted on 07/23/2010 8:26:38 PM PDT by rsobin
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