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:
It's the only american made car left. Damn if I'm supporting anything made by Government owned motor companies.
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.
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.
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.
all these years my father was right, theres only one , FORD !!!!!!!!and harley davidson.Pride!!!,thats what makes our country great !!!!
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.
Just wait, the Democrats and the UAW will try to hurt Ford now.
Mark my words!
4:07 is right. Ford will be considered "too big to fail" and they will be subject to government takeover.
Makes me wish I had bought that stock when it was low!LOL
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