Ford Back In Black With $2.7B Profit

[rdean]

Ford Back In Black With $2.7B Profit

From Manufacturing Today.

DEARBORN, Mich. (AP) -- Ford, the only U.S. automaker to avoid bankruptcy court, clawed its way to a $2.7 billion profit in 2009 and expects to stay in the black in 2010. It was the automaker's first annual profit in four years.

Ford's full-year revenue of $118.3 billion fell nearly 20 percent from 2008, but the Dearborn-based automaker benefited from cost-cutting, a $1.3 billion profit in its credit arm and popular cars and trucks like the Ford Fusion midsize sedan and Ford Escape small SUV. It gained market share in North and South America and Europe, despite the worst U.S. sales climate in 30 years.

"While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford," Ford CEO Alan Mulally said in a statement.

Ford shares rose 11 cents, or 1 percent, to $11.66 in morning trading.

 

[GWV5903]

Ford Back In Black With $2.7B Profit

From Manufacturing Today.

DEARBORN, Mich. (AP) -- Ford, the only U.S. automaker to avoid bankruptcy court, clawed its way to a $2.7 billion profit in 2009 and expects to stay in the black in 2010. It was the automaker's first annual profit in four years.

Ford's full-year revenue of $118.3 billion fell nearly 20 percent from 2008, but the Dearborn-based automaker benefited from cost-cutting, a $1.3 billion profit in its credit arm and popular cars and trucks like the Ford Fusion midsize sedan and Ford Escape small SUV. It gained market share in North and South America and Europe, despite the worst U.S. sales climate in 30 years.

"While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford," Ford CEO Alan Mulally said in a statement.

Ford shares rose 11 cents, or 1 percent, to $11.66 in morning trading.

How ironic, they avoided Federal Bailout and they show a profit, funny this was at his door step too, how he avoids the obvious....

 

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[youtube]tXaZmY52gHM[/youtube]

 

[theHawk]

And here I thought the government was the solution for all economic woes.