It seems like even good numbers coming out of the month of September weren't enough to right the listing ship that is Ford. Because, wow, talk about a double financial whammy of bad news for FoMoCo — they announced this morning that the Dearborn-based automaker lost $5.8 billion (yes, that's with a "B") this past quarter — an amount equal to $3.08 a share. To put things in perspective, during the same quarter last year, the automaker posted a net loss of $284 million — or $0.15 a share. Ford's claiming that much of the loss comes from what they're claiming are one-time special charges related to the company's restructuring (stuff that's part of the "Way Forward" plan like $861 million for jobs bank benefits and employee separations). But in my mind, it seems like much of the loss is coming from a serious decline in sales — a drop of $4.7 billion. But hey, at the very least the automaker seems to be succeeding at losing money quite well, even if they don't appear to be selling as many vehicles as they'd hoped to. But wait, as we promised above, it gets worse. The Dearborn-based automaker's also...
Jalopnik · Ray Wert
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