Snakeoil
Taxes are Armed robbery.
Premium
join:2000-08-05
Mentor, OH
 ·RoadRunner Cable
| Good job Ford.
Saw a blurb on the news that Ford actually made a profit and is the only "American" car company to so. Hats off to them, as they didn't take any tax payer money.
I will buy a Ford, when the time comes, or an import.
»www.msnbc.msn.com/id/33583171/ns···s-autos/
quote:
DEARBORN, Mich. - Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.
The automaker said Monday earnings were fueled by U.S. market share gains, cost cuts and the Cash for Clunkers program, which drew flocks of buyers to showrooms this summer. Ford's shares rose 53 cents, or 7.6 percent, to $7.53 in afternoon trading.
The latest results signal that Ford's turnaround is on more solid ground. The company lost more than $14.6 billion last year and hasn't posted a full-year profit since 2005. While it made a profit in the second quarter, that was mainly due to debt reductions that cut its interest payments.
Bad news is the azz hat union that UAW is, they will strike and demand more from Ford.
I hope Ford can break free of the leech that is known as a union.
Back in the days when there were few to no labor laws unions were good. But now, who needs them?
Sure union people need them for the large amounts of cash they can make, which drives the companies to over seas markets.
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I want Obama money. "wheres it comming from?" I dunno, his stash. I don't care, I just want obama money. Shows the lack of education and the greed of people. Hand outs from the government comes from your pay check and wallet. Think about it. |
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Loco
Premium
join:2002-11-09
So Cal | Very nice. |
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drew
Reformation
Premium
join:2002-07-10
Port Orchard, WA
clubs: | reply to Snakeoil
They sort of took tax payer money... |
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Rob
In Deo speramus, God Bless the USA
Premium
join:2001-08-25
Kendall, FL
·Comcast
| said by drew  :They sort of took tax payer money... I haven't really been following the latest news on Ford - but last time I checked they refused any bail out money. Has that changed?
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CheckSite.us | YourIP.us | Reverseip.us |
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drew
Reformation
Premium
join:2002-07-10
Port Orchard, WA
clubs: | It's more of an osmosis thing I suppose.
CARS gave them a whole trunkload (pun intended) of our money. |
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TCub
Premium
join:2008-09-03
Olmsted Falls, OH
clubs:
·Cox HSI
| reply to Snakeoil
Very good news. Pay attention to car ads too. Ford seems to be making some really nice cars. Nice enough to tempt me to want one. Problem is I'm such a Honda fanboy, I don't think I'd be able to.. There's only ONE american made vehicle that I'd buy instead of a Honda...
»www.dodge.com/en/2010/ram_1500/
Dodge Ram = HOT!
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Follow me on twitter!
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Snakeoil
Taxes are Armed robbery.
Premium
join:2000-08-05
Mentor, OH | Nope.. I'll never buy them, nor should you. They took tax payer money to keep their asses afloat. Granted GM got the best part of the tit, Chrysler still got some. |
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Snakeoil
Taxes are Armed robbery.
Premium
join:2000-08-05
Mentor, OH
·RoadRunner Cable
| reply to drew
That was a different program then the bail out money though.
That was part tree hugger move .. get people into greener cars..
part get the auto industry moving by making the dumb asses trade in a car that was paid off and take on more debt for a new car.
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I want Obama money. "wheres it comming from?" I dunno, his stash. I don't care, I just want obama money. Shows the lack of education and the greed of people. Hand outs from the government comes from your pay check and wallet. Think about it. |
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drew
Reformation
Premium
join:2002-07-10
Port Orchard, WA
clubs: | Are you and I not paying for the CARS program?
Regardless if it was bailout or "stimulus" Ford did profit from our dime... |
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Snakeoil
Taxes are Armed robbery.
Premium
join:2000-08-05
Mentor, OH
·RoadRunner Cable
| Cars was different then the bailout in the effect that all car companies could use the Cars program. Where as the Bail out was to the 3 US auto makers.
But ya, the government slipped this by most of us. I didn't pay attention because I wasn't about to trade a good paid off car for a new car and more debt.
The report also stated that Ford was still going to profit without the cars money.
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I want Obama money. "wheres it comming from?" I dunno, his stash. I don't care, I just want obama money. Shows the lack of education and the greed of people. Hand outs from the government comes from your pay check and wallet. Think about it. |
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drew
Reformation
Premium
join:2002-07-10
Port Orchard, WA
clubs:
·wavebroadband
| Then maybe give me back the money my neighbors spent?
*shrug*
I'm just saying, the auto industry has gotten major bailouts, and Ford didn't take any of the direct, just the "indirect." Respectable, but no one should act like they haven't gotten a cash infusion from the fed.
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Come play Mafia! | My Picture Blog |
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cmaenginsb
Premium,MVM
join:2001-03-19
Palmdale, CA
| reply to drew
said by drew :Are you and I not paying for the CARS program? Regardless if it was bailout or "stimulus" Ford did profit from our dime... As did Toyota, Honda and several other manufacturers.
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CCNA, Comtrain Certified Tower Climber |
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drew
Reformation
Premium
join:2002-07-10
Port Orchard, WA
clubs: | I acknowledge and agree with that statement.
This thread is about Ford, however. |
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Snakeoil
Taxes are Armed robbery.
Premium
join:2000-08-05
Mentor, OH
·RoadRunner Cable
| If splitting hairs over a program designed to get people buying "greener" cars.. then I guess the housing market got a stimulus package with the 1800 tax credit for buying a home, the appliance market is looking like they have a stimulus thing getting ready to go [If it hasn't already] for people to buy better engerny using appliances.
To me the Bail outs helped the companies, the consumer show little benifit to those.
The "stimulus" programd like Cars and the house tax credit, help the consumer. Sure it encourages them to take on debt in a risky economy, but it helps the person that has the money to spend the money, and thats the grease we need to ge t the economy rolling again. People spending money, creates jobs.. etc.
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I want Obama money. "wheres it comming from?" I dunno, his stash. I don't care, I just want obama money. Shows the lack of education and the greed of people. Hand outs from the government comes from your pay check and wallet. Think about it. |
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cmaenginsb
Premium,MVM
join:2001-03-19
Palmdale, CA
| reply to drew
said by drew :I acknowledge and agree with that statement. This thread is about Ford, however. You made it go beyond Ford when you mentioned CARS which was a benefit industrywide.
As to Ford "profitting from our dime", last time I checked Ford still got the same amount of money per car sold. All indicators are beginning to show that CARS sales cannibalized a lot of the 4th quarter sales that would have happened, when you look at the bigger picture (sales for the year) there will be little increase beyond what would have happened anyway.
All CARS really did is help a few people be able to get a better car as a replacement then they could on their own.
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CCNA, Comtrain Certified Tower Climber |
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ThunderDawg
join:2002-11-05
Lake Worth, FL
 ·AT&T Southeast
·Comcast
| reply to Snakeoil
Ford was far more prepared for the Great Recession than the other "Big3" carmakers. They actually predicted it in their annual report over five years ago. When they flew into Washington in their silver spoon jet with GM and Chrysler last year, they knew they could have survived a year without any government intervention for at least a year. But the government is always good for cheap money, so they did make the old collegial try. But they didn't have to get it. Ford did not "borrow" bailout funds, nor does it owe the government any large sums of money, nor does the government "own" any part of the Ford Motor Company.
My Dear Old Dad was on their Engineering Team for 2 decades - the legendary Time and Motion Team. I'm sure he's smilin' up there now. If there is an "up there", and if he is in it.
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The first time history repeats itself, it is a tragedy. The second time, it is a farce. |
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