The difference is Ford has half the employees that GM has and they're producing 80%-90% of the vehicles that GM does. Ford has 2 brands, GM has 4. Ford has true global vehicles like the Focus and Fiesta and a true global approach to vehicle design and engineering. GM doesn't. Ford understands every penny of their cost structure. GM doesn't.
Ford is simply more efficient than GM in almost every measure. GM is not willing to take the drastic steps that Ford decided to take 3 years ago to reinvent itself.
Given Ford's current debt and profit levels they'll be out of debt in just a few quarters (meaning they'll have more cash than debt). When the market rebounds from the 11M SAAR to 14M or 15M Ford will reap huge benefits because the additional volume (600K-800K units) will be incremental at very little additional cost (just labor and raw materials - the R&D, tooling, engineering, testing etc. is already done).
And if the economy goes south again or gas prices go way up again, Ford is in a much better position to withstand the drop than GM.
Just remember - Ford produces 90% as many vehicles as GM does with HALF the workforce. That pretty much tells the story.