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FORD POSTS THIRD QUARTER 2010 NET INCOME OF $1.7 B

hypocritexposer

Well-known member
OT? Any word on whether "most conservatives" are buying their vehicles from Ford or Government Motors these days?

FORD POSTS THIRD QUARTER 2010 NET INCOME OF $1.7 BILLION; ANNOUNCES ADDITIONAL DEBT REDUCTION ACTIONS


Ford reports third quarter net income of $1.7 billion, or 43 cents per share, a $690 million improvement from third quarter 2009. Pre-tax operating profit totaled $2.1 billion, or 48 cents per share, a $1.1 billion improvement from third quarter 2009++

Ford is announcing further actions to reduce Automotive debt and strengthen its balance sheet, including further paying down its revolving credit line by $2 billion; plans to use cash to fully prepay the remaining $3.6 billion of debt owed to the VEBA retiree health care trust; and conversion offers on two convertible debt securities

Ford now expects its Automotive cash to be about equal to its debt by year end, earlier than previously expected. This will be an improvement of $8 billion to $9 billion from the end of last year

Ford ended the quarter with $23.8 billion of Automotive gross cash and total liquidity of $29.4 billion. Automotive operating-related cash flow was $900 million positive

Revenue for the quarter totaled $29 billion, a decline of $1.3 billion from third quarter 2009; excluding Volvo revenue from 2009, revenue increased $1.7 billion ++

Ford Automotive operations posted a third quarter pre-tax operating profit of $1.3 billion, a $953 million improvement from third quarter 2009++

Ford North America reported third quarter pre-tax operating profit of $1.6 billion, a $1.3 billion improvement from third quarter 2009

Ford Credit reported third quarter pre-tax operating profit of $766 million, an $89 million improvement from third quarter 2009, and provided Ford with a $1 billion distribution during the quarter

Ford will deliver solid profits in 2010 with positive Automotive operating-related cash flow, and continued improvement in 2011


http://www.ford.com/about-ford/news-announcements/press-releases/press-releases-detail/pr-ford-posts-third-quarter-2010-net-33434
 

jigs

Well-known member
I bought a used Dodge, just cause I wanted the Cummins engine...but my new truck, ( that I pay for but the wife drives) is a FORD, and every vehicle I buy new will be a Ford...screw that prick the unions put in the White House, I will not support him in any fashion.
my brother in law sells Chevy at a large Kansas dealership....he hates me for not coming to him to buy, but I told him why, and he agrees
 

loomixguy

Well-known member
I don't think the reason he hates you is because you didn't buy a new truck from him Jiggsy..........I think his hatred runs a LOT deeper than that! :lol: :wink:

But you are right. No more GM vehicles for me, and I never was a Doodge/MOPAR guy. The girls will take the Deville and the Park Ave with them when they head off to college, so all that leaves here at the asylum is an Expedition, F250 and the F550. The wife likes the looks of the Ford Edge, and I kinda do, too. Oh, yeah..... screw the riceburners, too.
 

Juan

Well-known member
jigs said:
I bought a used Dodge, just cause I wanted the Cummins engine...but my new truck, ( that I pay for but the wife drives) is a FORD, and every vehicle I buy new will be a Ford...screw that prick the unions put in the White House, I will not support him in any fashion.
my brother in law sells Chevy at a large Kansas dealership....he hates me for not coming to him to buy, but I told him why, and he agrees

Right on Jiigs. Your smarts just grow and grow. :) :) :)
 

burnt

Well-known member
I bought my first and last, one and only Ford truck a lot of years ago. No Ford in my future.

The CAW was running protests in Southern Ontario today to let Ford know that the workers want a share of the profits.

I think they should be glad that they are still working.
 

loomixguy

Well-known member
The newer Ford pickups are nothing like the older ones. It's pretty hard to go wrong with a Super Duty. Drive one, burnt....you just might like it.
 

jigs

Well-known member
loomixguy said:
I don't think the reason he hates you is because you didn't buy a new truck from him Jiggsy..........I think his hatred runs a LOT deeper than that! :lol: :wink:

But you are right. No more GM vehicles for me, and I never was a Doodge/MOPAR guy. The girls will take the Deville and the Park Ave with them when they head off to college, so all that leaves here at the asylum is an Expedition, F250 and the F550. The wife likes the looks of the Ford Edge, and I kinda do, too. Oh, yeah..... screw the riceburners, too.

are you saying I have a personality flaw??????? 3 weeks till my annual pilgramage to the home of Cather
 
A

Anonymous

Guest
Did any of you people buy any Ford stock when it was cheap and everyone thought the economy was going to hell. Also buy GM stock when the IPO is issued you could get rich there. The government will get all of the money back plus some that was put into it.
 

hypocritexposer

Well-known member
hurleyjd said:
Did any of you people buy any Ford stock when it was cheap and everyone thought the economy was going to hell. Also buy GM stock when the IPO is issued you could get rich there. The government will get all of the money back plus some that was put into it.

I'm sure that when they get "their" money back, they will be quick to reimburse the taxpayer for principal plus interest.

It's not solely a case of getting the money back, to only break even, but the majority of taxpayer money should be spent, with a reasonable expectation of a positive ROI.

When you borrow money to buy equipment or inputs, do you pencil it out to breakeven or a positve ROI?
 
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