Ford swings to $2.7 billion profit

Discussion in 'Economy' started by Yurt, Jul 23, 2010.

  1. Yurt
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    Yurt Gold Member

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    Ford swings to $2.7 billion profit

    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.

    http://money.cnn.com/2010/07/23/news...dex.htm?hpt=T2

    ford did not take bailout money, yet amazingly, they are still around and are, gasp, posting profits. kind of shoots a hole in the theory that bailouts were needed. as ford exhibits quite the opposite.
     
  2. Truthmatters
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    Because they saw this mess coming and produced cheap good realiable cars instead of huge boats that guzzle gas.

    Yes Ford acted responsibly.


    I guess this is very good news that shows the economy is improving huh?
     
  3. Yurt
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    Yurt Gold Member

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    i hope it means the economy is improving

    and the bailouts weren't needed and my hunch is, this also applies to the stimulus, however, it is too early to tell

    the libs and cons who supported the bailout were all claiming it was the bailouts that kept gm afloat....well....ford stayed afloat without the bailouts...gm should have been allowed to fail
     
  4. Gremlin-USA
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    Gremlin-USA <<< Me in 1970

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    The only ones that didn't take a Bailout and they are being rewarded by the American Public

    And so am I, my stock is up from 2.17 when I bought it to over 12.00 :)


    .
     
  5. Truthmatters
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    Because it did and GM did not act resposibly like Ford did you fool.


    Now they are all going to survive this conservative made economic disaster.

    That means America will still have an entire auto industry instead of only ONE car manufacturer
     
  6. Douger
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    Douger BANNED

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    Don't hoist your flag up to full mast just yet.
    Research Ford Sales in China and Brazil.
    Yea. Fords turning some profits but you are still fucked.
     
  7. Toro
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    Toro Diamond Member

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    They had the CEO of Ford on CNBC this morning. He acknowledged that had GM not received a bailout and been forced into liquidation, Ford may have also gone bankrupt because it would have taken down many if not most of the auto suppliers, and Ford wouldn't have been able to get enough parts.

    I opposed the GM bailout but I thought that was an interesting take.
     
  8. Truthmatters
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    These things are always much more complicated that most people want to think
     
  9. Yurt
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    Yurt Gold Member

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    that is interesting, i suspect he knows more than i about the auto industry, so i will defer based on that, but i do not personally believe that would have happened...

    i think a more realistic situation would have been that some venture capitalist or another company would have come in and swooped up GM
     
  10. Yurt
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    Yurt Gold Member

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    seriously, why do you steal oxygen from trees?
     

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