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Monday, November 02, 2009

Ford Reports Surprise $1 Billion Profit


Automaker now expects to be ‘solidly profitable’ in 2011

DEARBORN, Mich. - Ford Motor Co. earned $1 billion in the third quarter, fueled by U.S. market share gains, cost cuts and the government's Cash for Clunkers rebates.


The Dearborn, Mich.-based automaker on Monday reported net income of $997 million, or 29 cents per share. Ford says it now expects to be "solidly profitable" in 2011. Previously the automaker said it would be break-even or better.


Shares of Ford, the only Detroit automaker to dodge government aid and bankruptcy protection, rose 50 cents, or 7.1 percent, to $7.50 in pre-market trading.


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9 comments:

  1. AnonymousNovember 2, 2009 at 10:05 AM

    It's the only american made car left. Damn if I'm supporting anything made by Government owned motor companies.

    ReplyDelete
  2. AnonymousNovember 2, 2009 at 10:41 AM

    How dare Ford make a profit!!! while all Americans are suffuring I bet the CEO of Ford is making a multi-million dollar salary and flys around in a corporate jet. OBAMA should ax Ford's CEO's salary by 90% effective immediately.

    I'm just kidding.

    ReplyDelete
  3. AnonymousNovember 2, 2009 at 10:45 AM

    Are you sure they made a profit? I think they have been given a sum of money under the table from the stimulas package. Another bunch of BS from the black house.

    ReplyDelete
  4. AnonymousNovember 2, 2009 at 12:45 PM

    But remember...this blog said that Cash for Clunkers was a waste of taxpayer dollars that the citizens would never get back.

    I wonder how the thousands of Ford employees' families feel about it.

    Remember, Ford never took a dime of stimulus funding. That's why I proudly bought my new Ford F150...and will buy Fords for the rest of my life.

    ReplyDelete
  5. AnonymousNovember 2, 2009 at 1:20 PM

    all these years my father was right, theres only one , FORD !!!!!!!!and harley davidson.Pride!!!,thats what makes our country great !!!!

    ReplyDelete
  6. AnonymousNovember 2, 2009 at 3:55 PM

    Ford did not take any of the government bailout money offered to automakers. And they seem to be in the best position of any of the domestic automakers- hmm food for thought.

    ReplyDelete
  7. AnonymousNovember 2, 2009 at 4:07 PM

    Just wait, the Democrats and the UAW will try to hurt Ford now.
    Mark my words!

    ReplyDelete
  8. BobNovember 2, 2009 at 7:33 PM

    4:07 is right. Ford will be considered "too big to fail" and they will be subject to government takeover.

    ReplyDelete
  9. ChimeraNovember 2, 2009 at 9:12 PM

    Makes me wish I had bought that stock when it was low!LOL

    ReplyDelete

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