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Ford Slammed With 4th Quarter Net Loss Of $5.9 Billion
Ford Earnings Could Be A Bloodbath
Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts
One Ford, Explained: Jalopnik's Ford Announcement Cheat Sheet

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Ford Tempo Fanatic
01/29/09

In reply to Ford Slammed With 4th Quarter Net Loss Of $5.9 Billion
Who is to blame. Ford? The American consumer? The economy? No. It is the most feared of all things standing in the way of just and good: Manbearpig.
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Graverobber
01/29/09

In reply to Ford Slammed With 4th Quarter Net Loss Of $5.9 Billion
So with 23 billion, at the current loss rate, they've got about 5 more quarters before they start burning the furniture for heat, and eating the short-straw holders. I so want both Ford and GM to survive this, and if FoMoCo can do it without significant financial support from the Feds, then all the better.

Scary times these.
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engineerd
01/29/09

In reply to Ford Slammed With 4th Quarter Net Loss Of $5.9 Billion
Ford, in a roundabout way, is going to get some government assistance. I heard on WDIV this morning they are working on getting Ford Credit converted to an industrial bank so it can tap the bank loans available through TARP, the Fed and other programs. The tradeoff is going to be that Ford Credit will have to follow the same rules as other banks, including reporting rules, accounting rules and capitalization ratios.

This, though, is much better than just asking for a handout.
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acarr260
01/29/09

In reply to Ford Slammed With 4th Quarter Net Loss Of $5.9 Billion
From my understanding of orders and projected units (I work for an OEM supplier), 2009 should be horrible and 2010 is when we expect volume to start heading back in a positive direction. I don't think that anyone really expects 2009 to be better than 2008.

/contemplating getting out of the auto industry completely
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Ash78, tryptophanatic
01/29/09

@acarr260: Ditto, except replace "OEM supplier" with "bank". And "auto industry" with "banking industry"
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acarr260
01/29/09

@Ash78: I think the best place to be in the US will be infrastructure companies shortly, given where Obama plans on spending our money.
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elwood
01/29/09

@acarr260: Not like infrastructure is a bad place to be spending money.

And if there's lots of money going to construction projects, that's good for me, as I'm hoping to get a job with John Deere when I finish my Masters.
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RLJ676-LS3 Commuter Car - for the environment
01/29/09

@acarr260:

I'd say volumes will definetely be down, the question is how equipped to handle the reduced volumes. From that perspective, this should be a "better" year.....assuming you (we're) the ones who survive the "equipping for lower volumes".
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acarr260
01/29/09

@elwood: I would agree that infrastructure is a great place to spend money when you're caught in a downward trend like this.
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acarr260
01/29/09

@rlj676-Carbon Footprint Size - Clownshoe: A lot comes into play there: staffing levels (we're laying off and terminating staff like we're having a fire sale on employees), production capacity (noboidy has a lack of that right now), debt load, etc.

We've grown by about 1000% in the past 10 years and were sold to a private equity firm by our previous (publicly held) owner in order to fund their Chinese adventures, so our debt load is considerable compared to when we were publicly held - that's my largest concern for my company.
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thunder; now eta-powered
01/29/09

In reply to Ford Slammed With 4th Quarter Net Loss Of $5.9 Billion
They're losing money, but at least it's their own, and not taxpayer-provided. Yet.
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Rust-MyEnemy
01/29/09

In reply to Ford Slammed With 4th Quarter Net Loss Of $5.9 Billion
When my friends ran low on cash at uni, they went out busking. Come on Ford, get the banjos out.

If you can play Money by Pink Floyd well enough, with the right chord progression and everything, you should make enough to fund an entire Mustang development program.

Or about $13.
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Mr.choppers - Delenda Carthago Est
01/29/09

@Rust-MyEnemy Accepts All Donations: Sadly the "Pink Floyd Special Edition" has already been done, so there can't be a Mustang one; but I'm sure that VW didn't spend much more than $13 on it.
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JC Whitless
01/28/09

In reply to Ford Earnings Could Be A Bloodbath

Yes this bath of blood...one drive?
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Jo Schmo
01/28/09

In reply to Ford Earnings Could Be A Bloodbath
oh look! Google ads HOORAY!
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Feds
01/28/09

@Jo Schmo *Now comma free!!:

Tough times all over. First the Comma Cutback and now the Ad Addition.
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Jo Schmo
01/28/09

@Feds: Heavens to murgatroyd its the jalopalypse!!
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Six Flags Over Tomsk
01/28/09

@Jo Schmo *Now comma free!!: NOOOOOOOOOOOOOOOOOOOOOOOOOOOOO...!
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acarr260
01/28/09

In reply to Ford Earnings Could Be A Bloodbath
Possibly the shortest post ever.

Did anyone expect good news in the earnings calls for Ford or GM? If so I'd like some of what they're smoking.

I work for an OEM supplier and we're laying off people like crazy right and getting pay cuts across the board to "right size" the company to match the production numbers. I really like the automotive industry but this downturn is making me debate going into consulting.
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Timtoolman, sporadically speaking
01/28/09

@acarr260: "Possibly the shortest post ever." Without the picture on the left you almost miss it entirely. Maybe they should come up with a new term. "Earnings" doesn't quite describe what we are seeing these days.
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acarr260
01/28/09

@Timtoolman now with power tools!: Losings?

"We're having this conference call this morning to discuss exactly how much we didn't make this quarter"
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engineerd
01/28/09

In reply to Ford Earnings Could Be A Bloodbath
In other news Ford is announcing this morning they have sold Volvo to the Icelandic government for a crate of fish two goats ten "massage therapists" and 100 puffin.
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mikedrawcar
01/28/09

@engineerd: Sources say they were all "delicious".
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Ash78, tryptophanatic
01/28/09

In reply to Ford Earnings Could Be A Bloodbath
Just gotta Carrie on. We're not gonna laugh at you. We're not gonna laugh at you.
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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, tryptophanatic
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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