Ford Posts A Profit!
Jan28
Ford provided some good news on the earnings front today. The only one of Detroit’s fabled Big Three that managed to avoid bankruptcy, the company earned $2.7 billion in 2009. This is quite an achievement during one of the most turbulent economic environments in US history. The company also picked up market share for the first time since 1995, during the era of the fabled Taurus.
While its $34 billion debt load remains a concern, Ford is looking at a favorable market environment. Rivals GM and Chrysler must deal with the shrinkage that is inextricably linked to bankruptcy, while rival Toyota is dealing with bad publicity and potentially damaging lawsuits on product recalls.
Check out more on this story at
DailyFinance.com
Author : Bob Chiore
Author's Website | Articles From This AuthorAs the business editor of 73 Wire, I am intrigued by the impact of government policy on business and markets. I am a career finance professional with 30 plus years in corporate treasury management.
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