lawdude Posted April 21, 2006 Report Share Posted April 21, 2006 http://abcnews.go.com/Business/wireStory?id=1872108 Link to comment Share on other sites More sharing options...
rpretzel Posted April 21, 2006 Report Share Posted April 21, 2006 Yeah, not to good, but a large portion of that loss was due to the restructuing costs that were expected. Now that Ford is getting leaner and meaner, they have nowhere to go but up...right? :blink: Link to comment Share on other sites More sharing options...
DVS2XS Posted April 21, 2006 Report Share Posted April 21, 2006 Yep, I've been watching Ford and GM stock drop for a while...waiting to get in. Remember when Chrysler had issues a few decades ago? The US gov't stepped in and bailed them out with CHEAP loans until they restructured. A great leadership team stepped up and things turned around. All in the name of the US autoworker and the economy. Think it will happen again?...._ _ _ _ Y-E-S! (add explitive of your own) The more gloom and doom I hear, the more I like it. Link to comment Share on other sites More sharing options...
mach1fever Posted April 21, 2006 Report Share Posted April 21, 2006 Exactly its about time I bough some ford stock. I really believe they will turn it around. They really are making great cars. Roger Link to comment Share on other sites More sharing options...
Aussie XAXB Posted April 23, 2006 Report Share Posted April 23, 2006 In the Chrysler issue the government did not step in. Lee Iacoca, whom Chrysler approached to head up the company after he was forced to retire from Ford, approached the Fed on his own initiative to ask for loans to turn the company around. Lee Iacoca then started the K-car platform where the cars (Aries K, Dodge 600) were designed to such a length that one extra vehicle could fit in a railroad car to save on shipping costs, and he also introduced the minivan, which Henry Ford II shot down when he proposed it while working at Ford. This, along with selling of businesses that Chrysler owned that they had no business owning, working for $1 a year (Just like Bill is doing now) Chrysler was able to pay off their Fed loans I think 2 years in advance, if not one year. Lee Iacoca said that had he known what shape the company was in, compared to what he was told before taking the job, he never would have done it. His book, "Iacoca" tells all about this. It's a good read. The results really are not bad or unexpected at all as evidenced by these two paragraphs... " Ford said its results included a pretax charge of $1.7 billion, or 61 cents per share, for costs associated with its Way Forward restructuring plan, which calls for cutting up to 30,000 jobs and closing 14 facilities by 2012. The charge includes the costs of layoffs and buyouts and pay for hourly workers whose plants have been idled. " These expenses were planned and will save money down the line. "Excluding one-time special items such as restructuring charges, Ford said it earned $458 million, or 24 cents per share. That was one penny below Wall Street's expectations, according to analysts surveyed by Thomson Financial. " So outside of these expenses they are performing as expected. If Ford turns around (and I expect them to) buying stock at a basement price could net a great profit. One guy I work with bought a bunch at $6 a share a few years ago and sold it when it got up to 15 a share. Pretty good for two years. Steve Link to comment Share on other sites More sharing options...
svttim Posted April 23, 2006 Report Share Posted April 23, 2006 I was watching Autoline Detroit and GM is afraid Ford will go into bankrupcy, alowwing them to restructure contracts that will put them at a competative advantage to GM Link to comment Share on other sites More sharing options...
Aussie XAXB Posted April 24, 2006 Report Share Posted April 24, 2006 Ford still claims to have 20-24 billion in liquidity so I don't think they are headed towards Bankrupcy. GM has far more overhead and I would think they would be closer to it than Ford, and I don't expect GM to go into bankrupcy. Steve Link to comment Share on other sites More sharing options...
Fastbackman Posted April 24, 2006 Report Share Posted April 24, 2006 I've been giving a lot of thought to Ford stock lately as well. I can't help but think its a bargain right now. Link to comment Share on other sites More sharing options...
DVS2XS Posted April 26, 2006 Report Share Posted April 26, 2006 If Ford can get a strong leader into the hot seat and restructure the company, the stock could be seen as a bargain. Very interesting article - http://www.iht.com/articles/2006/04/24/bloomberg/bxford.php Link to comment Share on other sites More sharing options...
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