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Ford Earns Nearly $1 Billion
AP Photo
The American auto industry isn't in a total state of collapse. Ford Motor, the only major domestic car maker to avoid bankruptcy, posted $997 million net income for the third quarter, moving into the black for the first time since 2008. The company said Monday it expects to be "solidly profitable" by 2011. Ford helped its balance sheet by issuing $565 million in "quiet equity," completing the $1 billion stock issue it began in August 2008. However, despite the good news, the company still has to contend with $38.1 billion in liabilities—more than some of its recently restructured competitors—and the United Auto Workers union, which rejected cost-cutting contracts for union members.
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kdj-kdj
Ford... the only American car company worth anything.
Plantagenet
The idiots at the UAW are still refusing to cut costs. The UAW won't be satisfied until every single American-owned car company is either out of business or taken over by Obama.
kdj-kdj
Without unions, we would still have standard 80-hour work weeks and zero worker rights.
bezvodka
I think if someone gave me many billions of dollars and set up a deal for me to sell my product thanks to government money, that I could make a billion too.
nortonclybourn
If you're talking about Ford, you didn't read the story, and probably haven't picked up a newspaper in a while, either. No, they didn't take government money. Don't count on Rush to give you accurate information.
kdj-kdj
They took NO bailout money.
YARROW
Ford didn't take any bailout money. I happy to hear some good news fot a change. FORD MAKES GREAT CARS PERIOD.
ThinkAgain
Who should we root for? The company we didn't have to bail out or the one we now own? The UAW needs to give Ford the same deal GM has if they want us to believe that GM is going to be expected to succeed in the private sector.
EtienneEtoile
Why do wingnuts think the UAW is somehow evil? Unions are the foundation of the free market. Eliminating or restraining unions is the 1st step to socialism or fascism.
djanimaequeen
You got that right EE. Nor do those idiots realize that when incomes rise so does sales. Duh!
kscr14
I love that we have a positive story here!! Yea!. I want to buy another Ford, my only complaint is the seat belt warning system goes off constantly while my ninety pound dog rides in the car. A long trip is hell on the ears.
laughorcryagain
there's a place for unions
but ... there is no reason that a high school teachers in NJ should get automatic raises every year and then 3/4/ salary plus benefits FOR LIFE after working 25 years.
the teacher sunion in NJ is the # 1 reason I pay $11,000 in taxes on a 1,500 sq ft house in a blue collar neghborhood.
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