Holy SHIT!! Ford lost $24,000 per minute last year....
Pretty sad if you ask me. How long can they hold on with those kind of numbers?
http://money.cnn.com/2007/01/25/news...ex.htm?cnn=yes
http://money.cnn.com/2007/01/25/news...ex.htm?cnn=yes
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the average GFY'er makes that every weekI don't use ICQ anymore. -
what's with the 4 threads?Comment
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wow thats pretty sad to see a pioneer American company loose that much moneyComment
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Gosh that's enormousComment
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those numbers are crazy,lol
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They didn't lose that much money... they just left it in their other pants.Comment
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That is a lot of money! ! !Comment
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Time to cut back what the unions can do, and get benefits under control. Can only pay each employee so much money, and that is the problem here.Comment
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I saw the new CEO of Ford on the other day. he said quite simply, "Toyota makes a far superior product then us. But we are working on that part!"
With all that being said, I want to go buy a Toyota now.Comment
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They need to cut back on the production of the mustangs, and the expensive cars that they build and can not sell.PornGuy skype me pornguy_epic
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rest assured someone at FMC got rich while ford lost all that money and 30,000 people face unemployment.
Ford said it sold 253,976 cars and light trucks in August
181,111 in november. how do you sell that many of "anything" and loose money?
assume they did 200,000 a month or 2,400,000 a year, not to mention used cars, repairs, ford credit, etc..
1,270,000,000 / 2,400,000 = $529 lost per car sold.
did i fuck up my math or is someone at ford an idiot for not being able to force me into buying "undercoating" and recouping some of this loss.
the real loss is on paper.
last january 265k cars sold. this january 200k cars sold. we "lost" revenue on 65k sales so we lost money...Comment
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They have ohhhh about 34 BILLION DOLLARS IN CASH
This is a really rough accounting loss - but any business with that much liquidity isnt in that much immediate trouble.
The problem for Ford has been their inability to turn out decent product - they need a home-run product soon or they will be toast.I died.Comment
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Wow I almost feel bad but really they deserve it for making such lame cars.Like the desert needs the rain
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They probably spend more than that on free coffee for their employees every day.---'-,-{@ Sassy Grrrl @}-'-,---
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Ford is the world's largest holder of corporate debt. They will be toast sometime soon.President at MojoHost | brad at mojohost dot com | Skype MojoHostBrad
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Blame it on many things but if American people were as patriotic as they claim ,they should buy at homeComment
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I disagree Brad. Im not liquid enough to do it right now, but this is another Kmart situation here. If I would of bought when I wanted to a few years back I would have alot more mula laying around. Ford will bounce back, and stock is going to shoot back up within 9 months. Grab some now if you can.
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I'm no expert but I've read a little bit about this and in a way Ford did it to themselves. They allowed themselves to be manhandled by the unions and then they sunk much of their business into the sale of SUVs. The profit margin on an SUV is through the roof, the problem is that they focused on that so much that they let the development of other things slide. It was all good for a while, but now with gas prices through the roof the sale of SUVs is dropping and they are having trouble adjusting. Too many eggs in one basket.Comment
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I liked this part.....
"That works out to a loss of just over $24,000 a minute throughout the course of the year, or about the price of a Ford Mustang."Herschel Savage
Brooklyn, NYComment
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Unions and poor management are what is bringing ford to it's knees. The union squeezed every red cent they could out of ford and ford couldnt do shit to stop it, or else they strike and production stops.. I know people that work at ford, with overtime included, they make about 90,000/year for stupid factory work, not too mention full medical/dental and every possible way to get time off, such as 3 week PAID stress leave. People wonder why these companies are branching off into mexico?
"The shift in buyers' preference left Ford with numerous truck factories that were idle much of the quarter, even as unionized hourly workers continued to be paid near full salary. It responded to the downturn by offering all 75,000 of its U.S. factory workers buyouts or enhanced retirement packages to leave the company, which more than half of them agreed to do."
They cant even fire people, they need to buy them out and spend even more money, money they dont have.Comment
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Toyota is going to run all the American manu.s out of business. The only things left for Toyota to dominate is Nascar, heavy-duty vans (Fords Econ line), and more industrial trucks.
Every interior of a Ford or GM car looks exactly the same. Their gas mileage is crap. Only good thing they have going for them is the fact there's so many in junkyards its easy to find parts - but Toyota is catching up there too.
I say another year or two before a Japenese company buys majority of Ford. GM will last a few years more but they'll start selling parts in no time.Comment
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from another board, clearly shows that Ford's main problem still is and continues to be..ironically..North AmericaOuch?
Interesting to read the details though.
- Europe Profitable
- SA Profitable
- Mazda Profitable
- Asia/Africa almost profitable
- PAG would be profitable if not for the anchor that is Jaguar not sure what is going to happen with that
- NA HUGE LOSSComment
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excuse me for one minute last year they didnt lose 24 grand I bought a grand marquis lolComment
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The US auto industry is going the way of the steel industry and all other manufacturing. It will never be what it once was, it is only a matter of time before Ford becomes an acquisition. In every important way, they are too far gone. It's easy to know the numbers on the direct employee cuts but you all can't even imagine the SUPPLIERS and hundreds of thousands of jobs already gone there and continuing to vanish. This is all in my back yard here and ties much closer to home than you can imagine. The legacy of Ford is quite fantastic, mostly, but the future is completely hopeless. GM, not far off, but probably more hopeful. Sure, just uneducated opinions here, but they're not something I wouldn't put money on.
And with regard to the 'Kmart' rebound - that wasn't a rebound at all for investors. I had friends and family lose millions of dollars in stock because it all got zero'd out, unsellable. It did not recover, the stock that shareholders owned was essentially thrown out and new stock was issued. Sure, the company has made some kind of recovery but bankruptcy and fucking all of your payables will help with that. If you've ever been into a Kmart in the last few years, you'll see for yourself that it's a shit store. We have them all over Detroit here. It's not half the store or customer experience of a Target, Walmart, Meijers. Based on that I believe they have limited upside.
BradLast edited by Brad Mitchell; 01-25-2007, 06:11 PM.President at MojoHost | brad at mojohost dot com | Skype MojoHostBrad
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Ford Australia is also having some serious problems. The only cars they manufacture here are the larger family sized cars which run the bigger 6 and 8 cyl engines (remember AU isn't SUV/truck crazy). Petrol prices have been rising so customers are defecting to 4 cylinder models - which are not manufactured locally - and the resale value of the larger cars is plummeting. My father in law works there and he says that every few months a new redundancy package comes up as they try to reduce the size of their workforce.
People are mostly stupid anyway, selling a two year old 6 cylinder car at a horrible loss to buy a 4 cyl that is 20% more efficient isn't going to save you money in the long run.Comment
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Fuck Ford. They are a big untrustworthy company. They fucked inventors and small business people. They raped the environment. They gave us crappy inefficient cars while the Japanese sent us quality economical dream machines.
Ford got greedy with SUVs, and now they are crying the blues.
Hey Ford, fuck you!
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Unions are easy to blame.Doesnt Toyota gives their workers benefits and good wage? Its poor management, not keeping pace with the market and this stupid having doubles of models mercury and ford. Gm has the same problem with multiple brands of the same car and they are in trouble makes you go hmmmmm.Comment
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It isn't good for themComment
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That is because they are fucking clueless when it comes to making cars.Comment
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Does anyone find it ironic that Mazda is making a profit for Ford?
Everyone talks about the quality of American cars - or the lack of it. My first new car was a Mazda, and since then every car I've had has been a Ford. Since 1995 I've five Mustangs, one Escape, and one Explorer. Not once have I ever had to take any of these cars in for repairs.Herschel Savage
Brooklyn, NYComment
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their cars suck
their image is better in europe than it is in the us thoughComment
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