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Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts

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Deartháir II
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
You know, I've had people bring me in financial statements that looked something like these, (although with 000's, not 000,000's) and after seeing a trend for a couple years, I remember saying to one of them, "You know, you're a very nice person, and I think very highly of you, but... I think it's time you accept... you're just not very good at this."

In that vein,

"Ford... You're a very nice company...
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Deartháir II
11/07/08

@Deartháir: Having now seen GM's balance sheets, I take it back. "Ford, you're not very good at this, but at least you're better than they are."
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Stoatmaster
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
hamster madness - try again:

Ford US revenues down 40%, Ford Europe up 12%. Broadly level playing field.

One inference might be that Ford Euro management know their world better than Ford US.

Maybe they should offer to help?
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RLJ676-LS3 Commuter Car - for the environment
11/07/08

@Stoatmaster:

Or, that there was no huge segment shit in Europe, as they always had high gas prices due to taxes??????

Seriously, what the hell is with this country that we have no pride and assume we all suck at everything, and we must kiss the ass of the Euro genius?
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RLJ676-LS3 Commuter Car - for the environment
11/07/08

@rlj676-new job, same problems:

shit=shift. We still don't have the technology for an edit here?
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sos10
11/07/08

@Stoatmaster: It is not just because of the products, but because the euro economy is not as bad as the US.
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Ash78, cube farmer
11/07/08

@rlj676-new job, same problems: Seriously, what the hell is with this country that we have no pride and assume we all suck at everything, and we must kiss the ass of the Euro genius?

We've got the talent in every arena, but I'm just worried we don't have the time to get it all done properly. I'd like nothing more than to see US-designed-and-built cars lead the world, but I just don't see that happening in the short term.

In that same vein, I'm curious to see how GM's world-cherry-picking plan works out. So far, the Malibu looks like a promising sales star, but everything else is sort of flat (Astra, Aura, G8, etc).
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Gearhead_42 - Nibbles ate my garage!
11/07/08

@rlj676-new job, same problems: Idleness and pride tax with a heavier hand than kings and governments.

-Ben F.
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RLJ676-LS3 Commuter Car - for the environment
11/07/08

@Ash78:

It basically shows that all the forum "chatter" on how "bring this car here, and that car here, it's so easy and obvious" doesn't AT ALL meet US consumer needs. The Astra is a great example. It is popular and Europe, and a great car, it really drives like a mini BMW (I AM qualified to make this statement, as I owned an e90 for about 6 months, and drove the Astra for 2 weeks in Germany last month). However, we sell it for very cheap here, and nobody seems to care or buy it. Now marketing it has seemed week, but Americans just don't have the same taste on the big scale.

The Malibu is designed here, only the platform is global. The US can design cars that are class-leaders, we just can't charge the price necessary for them.
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SeanKHotay
11/07/08

Oooo! Good, gearhead-appropriate quote Gearhead_42!

@rlj676-new job, same problems: No need for an edit button, you are correct both times.

"shit" is synonomous with "shift" in the context of the current market's bowel movements.
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layabout
11/07/08

@rlj676-new job, same problems: Haha an Astra a good car hahahahaha drives like a BMW hahahahahahahaha,seriously you should be a comedian. The Astra gets its arse kicked in every department by the Focus.
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layabout
11/07/08

@layabout: Not to mention the Megane,Peugeot 207,Civic,Auris & most other cars in its category.
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layabout
11/07/08

@rlj676-new job, same problems: European car companies aren't in the same shit,that's why.
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The Black Bottle
11/07/08

@layabout: Ease off Layabout, these guys are hurting. This is just like the UK in the '70s and'80s when our motor industry was closed or sold off, when towns slumped and some poor folks' pride disappeared with their redundancy money (is that what you call 'separation pay' in the US?).
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layabout
11/07/08

@TommiTee: I wouldn't wish that on anyone,the British car idustry is dead except for the smaller car makers,it's not too late (well i hope not) for the big American two to learn from VW. Even in the current climate VW are going from strength to strength.
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Mr.choppers - Delenda Carthago Est
11/07/08

@Ash78: I think that no matter how good those products are, no one expects it from GM. It took Honda/Toyota a long time to build their brands, and it will take GM quite a while to rebuild theirs. Good product is a start, but they are missing the essential stick-to-itiveness. The next round of new cars won't build upon the decent Astra/Aura/G8.
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The Black Bottle
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
Whilst these figures are bad the strategies Ford have in place for global alignment of their product range wuill ensure their future and put them on a par(product wise) with McDonald's. Same range worldwide with only minor regional variations - McFord's!!
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layabout
11/07/08

@TommiTee: I'll have to remember to take the gherkin out.
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Stoatmaster
11/07/08

@TommiTee: You say that like it's a bad thing.

Most manufacturers don't run completely separate models under the same badge for different markets.

A VW Golf is the same in most European and North American markets, nor is there a special big Golf for America. Yet, they sell well everywhere.

Perhaps Ford US should build up to a standard, not down to a preceived lowest common denominator.
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Stoatmaster
11/07/08

@Stoatmaster: preceived = perceived.

And I plucked the Golf from the air; plenty of other examples.
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DonSchenck
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
I'm SOOOOO glad I bought that Ford stock a month ago.

(pointing to self): Who's the doofus?
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Triborough
11/07/08

@DonSchenck: If it goes any lower I might buy some more. Think of it long term - Ford is leaner than GM and is more likely to weather the storm than the bloated GM. Buy stuff low now that you think will go up in the future - and by future we don't mean next year we mean ten or twenty.
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Mr.choppers - Delenda Carthago Est
11/07/08

@Triborough: Yeah, I am thinking about buying some Ford stock right before their final quarter announcement. And, yes, I'd only be using money I won't need for the next ten years or so.
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Timtoolman, sporadically speaking
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
I have nothing new to offer, today. The writing was on the wall long before today's revelation. Surely GM's numbers will be equally as dismal, tragic, ...someone help me here.

And while we would hope overseas sales will improve enough to offset some of the hemorrhaging, that surely won't happen. One look at the markets; they ALL hinge on the US.

Funny how that works. Other nations critique the US to no end, but as our economy nose dives, so goes the world...
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sos10
11/07/08

@timtoolman: It is not as simple as that, the main difference is that the real economy in many euro countries is rather healthy compared to the US, it is just the international banking system that is dragging them down... because it was so linked with the US.. that wont happen again in the future... the system is changing.. with the result that the US will never have the credit capacities they once had.
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layabout
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
I can't be bothered to read that,i'll just assume that Ford are in the brown stuff.
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Triborough
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
They could save oodles of money if they eliminated all the special edition Mustangs.

Seriously they really need to ditch about 99% of the North American lineup and replace it with the decent vehicles they sell in Europe an Oz. That would streamline things a lot and would give them quality products. Who really wants a Taurus?
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fodder650
11/07/08

@Triborough: Again because when they tried this in the past it worked so well. You know the Merkur. The newer world cars like the Mondeo and its twin.

How do you like your new Mondeo? Thats right it sold miserably as both the Mondeo and as the low cost Jaguar.

As Americans we have different tastes. Plus they have to certify the cars for the American market. Because the emissions and safety standards in Europe arent the same as here.

You were saying?
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Gearhead_42 - Nibbles ate my garage!
11/07/08

@fodder650: So you have cars tailored to our "special" American tastes, that aren't selling (anywhere in the world) and are costing the manufacturers money. On the other hand you have cars suitable for the REST of the world, that the manufacturers aren't even trying to sell to Americans, that ARE selling outside the states...

I fail to see the logic in your argument.
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Ash78, cube farmer
11/07/08

@Gearhead_42: I second that notion.

Cars designed for European roads are scalable anywhere in the world--handling, practicality, comfort, etc.

But if only a handful of elements--"Oh, it needs a be a bit bigger"--come into play, then it seems like Americans go back to US-centric designs.

Due to a huge combo of factors, Euro-spec cars are the best in the world for virtually the WHOLE world.
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WheatKing
11/07/08

In reply to Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
Yea really need to fix that title..

Ford lost $129 BILLION??!?>?>!

$129M sounds more reasonable..
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Ash78, cube farmer
11/07/08

@WheatKing: Or to be pedantic, $129MM (because $129M would be 129,000)

If I wanted to do math and read spreadsheets, I'd be working right now.
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Deartháir II
11/07/08

@Ash78: Argh, that's a pet peeve. What is this, the Roman Empire? I've refused to use that system for years now, and it's finally starting to spread through the company. "K" is a thousand, "M" is a million.

Sorry, everyone... bankers talking here. Carry on, carry on.
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