Monday, January 29, 2007

Worst Year for Ford

Ford on Thursday had the worst year in its 103-year history with a wider-than-expected fourth-quarter loss and said it would cut production this quarter and lose market share through September. The No. 2 US carmaker posted a fourth-quarter net loss of almost US$5.8 billion (£2.9 billion), or US$3.05 per share, on declining lorry sales and charges for employee buyouts. That compared to a loss of US$74 million, or 4 cents per share, a year ago. 
Ford's loss from continuing operations was US$1.10 a share, wider than the average Wall Street analyst expectation for a loss of 94 cents, according to Reuters Estimates. 
For the full year, Ford posted a record loss of US$12.7 billion, leaping past the company's previous record net loss of US$7.39 billion in 1992 when the industry was reeling from a recession in the US economy. 
Ford, like its Detroit-based rivals, was hit hard in 2006 as high gas prices and interest rates drove consumers away from the trucks and sport utility vehicles that had accounted for most of its sales and profits.




The Money Management Blog is a personal and business finance site. Includes resources relating to banking, credit and loans, careers, mortgages, investments, tax and much more…

3 Comments:

At 1:41 PM, Anonymous Anonymous said...

Sometimes I think the government is to blame for these issues. The car companies and aerospace industry both are constantly on a roller coaster fiscally. They get into trouble, the government bails them out. They recover, over extend again, government bails them out again...

 
At 6:36 PM, Anonymous Anonymous said...

nice, i just brought lots of bran-new emo backgrounds 2 my blog
http://www.emo-backgrounds.info

 
At 1:44 PM, Anonymous Anonymous said...

Sometimes when crocheting a pattern, a video can be much more helpful
than reading the instructions. The sites mentioned here provide basic templates that can
be used for both personal and commercial publications, but aren't always readily compatible with online publishers. Its easy-to-use format allows anybody to search for their favorite books online.

Feel free to surf to my web page; free pdf ebook download

 

Post a Comment

<< Home