Ford Posts $997m Profit, Projects Solid Income - Ford, CAW reach production pact

[goochman]

Originally Posted by poncho1982

Ah, now we see why the UAW rejected the new contract.

They don't need to reduce costs, evidently.

Sorry, couldn't resist.

Nice Quarterly view on the business - for the year they are still losing money.

We want a healthy Ford across the board - not a 1 out of 4 Qs healthy Ford. I wonder if Ford will reward the CAW long term for being more proactive in working with them. Time will tell, but the UAW needs to understand Ford has options.................

[PAULSTS1]

This is positive news in a very negative economy. The UAW concessions are still necessary as these profits are partially derived as a result of the jolt from the "Cash for Clunkers" promotion, and the remaining quarter should be somewhat slower.

I congratulate FORD, and its CEO Alan Mullaly, good job and much success to show a billion dollar profit and not borrow in this economy, this is my kind of company.

[All-Or-Nothing]

Good job FORD

[wescoent]

I think the key points of this earnings report is that North American operations are profitable, and that cash flow is positive.

Both are enormous steps in light of the situation of the last 2+ years.

[PeteM143]

Good Job Ford! Impressive results!

If Ford is making money without the massive restructure GM just went through, I can only imagine what GM must be making. No debt overhang and all of the liabilities out the door.

I would suspect that GM will be solidly profitable in 2011, maybe even in 2010.

Nice job Mr. Mullaly. You deserve the accolades!

[mbukukanyau]

This is great news for Ford. Kudos to Allan Mullaly for the great job he did steering this American icon from the brink.

[PAULSTS1]

Originally Posted by PeteM143

Good Job Ford! Impressive results!

If Ford is making money without the massive restructure GM just went through, I can only imagine what GM must be making. No debt overhang and all of the liabilities out the door.

I would suspect that GM will be solidly profitable in 2011, maybe even in 2010.

Nice job Mr. Mullaly. You deserve the accolades!

Hi Pete:

Just a minor correction: FORD is restructuring! Bill Ford realized that the company needed a different direction and he and the Board of Directors recruited an Executive that made changes without waiting until all the cash was gone, and Bankruptcy had to be done to keep the lights on (GM). While I am sure that assigning someone else to be in charge, when your family name is on the business is difficult; Bill Ford showed that he inherited grit and has the wisdom to be Chairman of the Board.

Again, FORD is restructuring, but most importantly doing it voluntarily, not being subject to the power of a Bankruptcy Trustee or the disgrace of being dismissed by a first term President of the United States.

[flctinman]

Originally Posted by jaydee

Good for Ford, albeit coming when they're trying to get concessions from the UAW is not going to bode well for the next set of negotiations as this contract proposal appears dead in the waters.

It's definitely going to be a big problem for them, but a "better" problem to have than what GM and especially Chrysler face right now.

gm will be reporting today......and you seem to forget fords 36 billion debt due in 2 years. ford cut n.a. jobs by 46% since '06 and workers are well aware of it. ford also said yesterday they were only interested in the no-strike clause....wonder why? if ford would have given each worker 1,000 to approve there would have been no n.a. profit. ford is setting workers up for the '11 contract and ford wants to cut retirees to the bone like the uaw allowed at gm and chry. is all they wanted. now, ford will be the target in '11 and i am glad the workers were smart enough to read between the lines.
if americans were a bit smarter they would realize what that foreign car is costing everyone. but they aren't....china wants to put a 35% tariff on imported amer. cars now...all 9,000 of them. we need politicians that work for americans rather then for foreigners.........

[brnwrng]

not surprised...good news for Ford

[longislander]

Originally Posted by flctinman

if ford would have given each worker 1,000 to approve there would have been no n.a. profit.

41,000 UAW workers x $1,000 bonus = $41 million. Ford's profit was $1 BILLION.

[Simon says]

This is great vindication for Mulally and his team and the entire American automotive industry. Ford NEEDS to make this a sustainable trend. Mullaly promised full profitability in 2011, he surely has placed the company in the right track.



CONGRATULATIONS FORD!!

[jaydee]

A reason to be weary, is that GM posted suprisingly good results I think it was 3Q 2007, then 4Q a loss of $39B (almost entirely special items one-time charges). Accountants can have a way of looking good one quarter and looking disasterous the next (robbing 4Q for the sake of 3Q), with the strategy being carry as much momentum as long as possible to create a good image, thus increase near-term sales. It's a smart stategy as there's really nothing to lose. Is this what's happening right now with Ford? We'll see how the next several quarters to go. They don't even need to post a profit, just note how many/big "special item/one-time" losses show up on the balance sheet.

[GMFAN85]

Originally Posted by 1487

Ford is a public company, the other two are privately owned. Also, Chrysler isn't
"government owned" considering the US has a 10% stake in the company. GM is a private company whose largest shareholder is the government.

I have a feeling that people will still be saying that GM and Chrysler are government owned even if they were to pay back all their loans to the government. They say that just to prove some stupid point that the American automobile industry failed and it's somehow Obama's or the Democratic party's fault.


As for Ford, good for them.. The late 90s was a bad decade for the company. Glad to see the company got its S**& together.

[smith7629]

Good day for the USA! Congrats blue oval team. C'mon GM, we're all pulling for ya!

[joemac]

Ford declares $1B profit for the quarter but yet adds $800M in debt during the same period. Interesting how accounting works.