Ford posts 2.1B profit while GM posts 16.6B loss

[jimpeel]

It seems that Ford is doing something right. Oh, yeah, don't let the government meddle in or take over your business. Now there's one to live by.

SOURCE

- Associated Press

- April 27, 2010
Ford Posts $2.1 Billion Profit in First Quarter

DEARBORN, Mich. -- Ford Motor Co. says it earned $2.1 billion in the first quarter, another sign the economy is improving as people spend more on big-ticket items like cars.

The Dearborn-based company says net income per share was 50 cents in the quarter. That's an about-face from the same period last year when it lost $1.4 billion, or 60 cents per share, at the height of the recession.

The company says it was profitable in its key North American market, but it also made money in Asia, Latin America and Europe.

Ford's U.S. sales rose 37 percent for the quarter and its market share climbed nearly three percentage points. The automaker is benefiting from a rebound in auto sales, higher quality rankings and a boost to its reputation for avoiding government aid.

© Associated Press. All rights reserved.

Copyright 2009 FOX News Network, LLC. All rights reserved.

 

[2minkey]

the reasons that ford is in its current position has to do with decisions and actions that took place well before any of the current bailout bullshit. you have any idea how long the planning cycle is on new vehicle programs?

so, this doesn't really support your agenda, jim, though you could not know that given your lack of first hand knowledge of the automotive industry and ford in particular.

 

[MrBishop]

GM spent $1.5B since the bailout to restart closed plants and bring people back from layoffs.
http://www.ctv.ca/servlet/ArticleNe...os-GM-invest-100427/20100427?hub=TopStoriesV2

Hell, they well on their way to black ink again

The company generated more than $32-billion during the quarter, and more than $57-billion since it emerged from bankruptcy, he added.

"Despite the results you've seen from the fourth quarter, I believe we have a chance at achieving profitability this year, at least at the operating level, " Mr. Liddell said. But, he added that he didn't want to be cavalier about it.

"I think there is a danger, and this company has possibly been guilty of this in the past, of over-promising and under-delivering," he said. "I would rather under-promise and over-deliver."

To that end, GM remains committed to repaying the $8-billion in loans it received from the U.S., Canadian, and Ontario governments by June, he said.

To date, it has paid back $2.4-billion to the U.S. Treasury and another $400-million to Export Development Canada.



Read more: http://www.financialpost.com/story.html?id=2773069#ixzz0mKexWofx

http://www.financialpost.com/story.html?id=2773069

 

[ResearchMonkey]

the reasons that ford is in its current position has to do with decisions and actions that took place well before any of the current bailout bullshit. you have any idea how long the planning cycle is on new vehicle programs?

Not as long the planning cycle of destroying a nation.

OK, you're right'ish, but Gov'tMotors is not going to do very well no matter how much planning they do. The resentment residuals are going last longer than the planning for the next model of Camero.

I know I wont be buying a GM in the foreseeable future.

 

[Professur]

I'll say this ...Chrysler isn't long for this world. I drove a 2010 Grand caravan from Mtl to TO and back yesterday, about 800 miles. Not only is the control configuration ambiguous, it's pitiful. The shift lever mounted on the dash?? Half the radio buttons beyond reach. Climate controls below the knee. But that's the least of it's issues. my daily driver is a '93 version of the very same vehicle. A vehicle I find lacking in most ways. But after 12h highway, and another 3 putzing about TO, my relic was a pleasure to drive. Granted, I personally did the brakes on mine, but the 2010 had less than 3500km on it when I got it. It's factory brakes were soggy, the suspension mushy, and the steering vague. If this is what nearly two and a half decades of experience in minivan construction delivers, Chrysler will soon be as dead as AMC and Desoto.

 

[2minkey]

GM and chrysler really do deserve to die. but, then, chrysler deserved to die years ago when ronnie reagan (who is obviously a communist in light of this) bailed 'em out before.

 

[Professur]

but, then, chrysler deserved to die years ago when ronnie reagan (who is obviously a communist in light of this) bailed 'em out before.

Agreed. I'd say totally, if they weren't the only ones building half way decent RWD cars today.

 

[Winky]

Ford profit is job one.

FWD cars are just a fad they will never catch on.

 

[catocom]

yeah Reagan was ok, but he wasn't the 'saint' he's been made out to be since he died.

It all too often happens that way.
Compared to the presidents that followed him though, he didn't really screw-up that bad.

 

[ResearchMonkey]

context: Chrysler was part of the war machine protecting us from the commies back in the day. Now it's all left up to Minxy cat.

 

[Gonz]

Reagan? The bailout happened in 1979.

What makes Obama a commie isn't the bailout (that makes him a foolish liberal) but the 65% ownership stake that he stole.

 

[catocom]

personally, I don't mind the bailout of the manufacturers as much as the wall street crooks,
but I don't 'like' any of it.

IMO it was a scam from the start when Paulson scared Bush, up until now.
Seems awful suspicious that NOBODY has been prosecuted yet.
If I were to get into the conspiracy theory on this one, I could go for a long long time.
It'd serve no useful purpose in my position though.
I'll just continue to comment as things come to light.
Take it as information, blather, or just the rambling of a crazy.
Makes no difference to me.

 

[Winky]

He didn’t steal it, he gave it to the Union thugs,
where we know the able stewardship will lead to epic levels of success!

 

[ResearchMonkey]

lolololololol

 

[2minkey]

Reagan? The bailout happened in 1979.

by golly you are correct. fuzzy memories of a then 8 year-old...

What makes Obama a commie isn't the bailout (that makes him a foolish liberal) but the 65% ownership stake that he stole.

hey man, i want my money back from bailing out those worthless shitbags, which i'm not sure shoulda happened at all, but since it did, pay back the taxpayers. "stole" my ass. gimme my tax bux back.

 

[Winky]

That chick is a hottie

 

[jimpeel]

the reasons that ford is in its current position has to do with decisions and actions that took place well before any of the current bailout bullshit. you have any idea how long the planning cycle is on new vehicle programs?

so, this doesn't really support your agenda, jim, though you could not know that given your lack of first hand knowledge of the automotive industry and ford in particular.

Profits come from sales. Sales are up. Period.

 

[2minkey]

there's no long range planning function in automotive companies? they are not reaping what they sowed? i could cite several vehicle programs that LOST money on every unit sold. profits come from being able to manage costs and being able to sell stuff. just quoting sales figures does not necessarily mean anything. they could be doing some wacky promotion this month and next month they could go right in the shitter. no, they won't, but you don't know that when you're doing nothing more than scratching the surface and not really understanding why ford is in the position it is in. it's not just sales and it's not your ideological stuffs that put ford where it is now.

do i need to send you a pic of my ford ID badge? would you believe me then?

 

[ResearchMonkey]

If you were to post photos that included red-rubber-gag-balls it would certainly validate your point.

 

[2minkey]

i don't have a red one.