Rebounds

Ford Posts Annual Profit

In the black for first year since 2005.

Ford got back in the black for the first full year since 2005, with a 2009 profit of $2.7 billion, compared with a $14.7 billion loss in 2008. The second-largest U.S.-based auto maker isn't out of the woods yet, though: The company still has to weather a vulnerable market, particularly in Europe where ending incentive programs are expected to reduce overall industry sales by as much as 2 million vehicles this year. Ford also has a titanic amount of debt—$34.3 billion—almost twice the size of General Motors, which has filed for bankruptcy protection. Still, the news is good for about 43,000 hourly workers, who will enjoy about $450 per employee in profit sharing. Ford is also reinstating its matching 401(k) program and skipping 2009 bonuses for salaried employees.