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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 ...
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.
How come we taxpayers own GM instead of Ford??
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.
Because they took Obama’s bail out trap,with the Ford news today I bet Obama’s dog got kicked .
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.
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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)
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.
The govt always makes LOSING bets!
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.
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.
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...
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.
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!
Go FORD! Wish I could afford a new F-150. Nice trucks. My days with GM and Dodge are over for good!
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.
Because Ford has competent management and creates quality products that people want to buy. GM and Chrysler didn't.
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....
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!
Love my Ford Escape!
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.
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 ?
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).
The European Fiesta looks like a sweet small car.
ditto
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).
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.
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.
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 !!!!
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.
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.
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.
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!! :-)
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!! :-)
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.
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...
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.
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.
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.
Sold too early!!!!
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.
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....
Payback for Pearl Harbor!
How's that "Hope 'n Change" working out for you?
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.
Buy a Ford and you support the UAW. This is war folks. We’re losing in no small part because of leftist unions.
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