range Posted November 8, 2007 Share Posted November 8, 2007 (edited) Detroit News Ford beats expectations with loss Bryce G. Hoffman / The Detroit News Ford Motor Co. surprised Wall Street this morning with better-than-expected results, posting a $380 million loss for the third quarter of 2007. That represents a major improvement over the same period in 2006, when Ford lost $5.2 billion. Analysts had expected the company to lose about $1.17 billion before taxes for the quarter, according to a survey conducted by Bloomberg. A survey of 14 analysts predicted an average loss of 47.2 cents per share. In fact, Ford only lost 19 cents per share. ======================================= DETAILS OF FORD’S THIRD QUARTER 2007 FINANCIAL RESULTS BRIEFING - third-quarter and year-to-date 2007 results ahead of plan. - Significant continued improvement in core Automotive operations. - Cash balance above year-end 2006 levels, despite restructuring. - New vehicle quality continuing to improve. - New products continuing to perform well. Edited November 8, 2007 by range Quote Link to comment Share on other sites More sharing options...
BORG Posted November 8, 2007 Share Posted November 8, 2007 Congratulations Ford, you just embarrassed GM . Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted November 8, 2007 Share Posted November 8, 2007 An improvement, but not there yet. - Ford's loss was only 1 cent per share, excluding special items and one-time charges. - North American operational losses decreased to $1B from $2.1B a year ago. - Wall Street "Anal"ysts were wrong by more than a half billion dollars again. Certainly looks like Ford is getting their footing back on more solid ground. There's still work to be done though. Quote Link to comment Share on other sites More sharing options...
BORG Posted November 8, 2007 Share Posted November 8, 2007 (edited) dupicate Edited November 8, 2007 by BORG Quote Link to comment Share on other sites More sharing options...
range Posted November 8, 2007 Author Share Posted November 8, 2007 (edited) Congratulations Ford, you just embarrassed GM . Lesson to GM, if you're going to surprise Wall Street, surprise to the upside. Edited November 8, 2007 by range Quote Link to comment Share on other sites More sharing options...
jpd80 Posted November 8, 2007 Share Posted November 8, 2007 (edited) On a pre-tax basis, worldwide Automotive sector losses in the third-quarter were $362 million. Some highlights: Ford North America: pre-tax loss of $1.0 billion Ford South America: pre-tax profit of $386 million Ford Europe: pre-tax profit was $293 million PAG: pre-tax loss of $97 million (loss at Volvo, partially offset by a small profit at J/LR) Ford Asia Pacific and Africa: pre-tax profit of $30 million (cost reductions and higher net pricing, partially offset by adverse product mix, mainly in Australia ) Other Automotive: pre-tax profit of $29 million Financial Services sector earned a pre-tax profit of $556 million Ford earned $18 million from its investment in Mazda and associated operations. Ford Motor Credit Company earned $546 million No $39 billion accounting write downs here!!! Edited November 8, 2007 by jpd80 Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 8, 2007 Share Posted November 8, 2007 On a pre-tax basis, worldwide Automotive sector losses in the third-quarter were $362 million.Some highlights: Ford North America: pre-tax loss of $1.0 billion Ford South America: pre-tax profit of $386 million Ford Europe: pre-tax profit was $293 million PAG: pre-tax loss of $97 million (loss at Volvo, partially offset by a small profit at J/LR) Ford Asia Pacific and Africa: pre-tax profit of $30 million (cost reductions and higher net pricing, partially offset by adverse product mix, mainly in Australia ) Other Automotive: pre-tax profit of $29 million Financial Services sector earned a pre-tax profit of $556 million Ford earned $18 million from its investment in Mazda and associated operations. Ford Motor Credit Company earned $546 million No $39 billion accounting write downs here!!! Loss at Volvo with Profit at LR.....Who thought we would ever hear that. Time to dump them all. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 8, 2007 Share Posted November 8, 2007 Loss at Volvo with Profit at LR.....Who thought we would ever hear that. Time to dump them all. Well now I read they're keeping Volvo...That made me look stupid lol. Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 8, 2007 Share Posted November 8, 2007 Well now I read they're keeping Volvo...That made me look stupid lol. You looked even stupider by suggesting Ford should dump Volvo due to 2 years of slight losses. Even if Volvo lost $100million a year, it's probably a better R&D investment than Ford could make otherwise. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 8, 2007 Share Posted November 8, 2007 You looked even stupider by suggesting Ford should dump Volvo due to 2 years of slight losses. Even if Volvo lost $100million a year, it's probably a better R&D investment than Ford could make otherwise. Well, I like Volvo, and I know its currency exchange that is partially causing this...and the thing is, currency in the US is not about to get better. Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 8, 2007 Share Posted November 8, 2007 Well, I like Volvo, and I know its currency exchange that is partially causing this...and the thing is, currency in the US is not about to get better. A global recession would do the trick quite well. China doesn't need your resources if the US stops buying cheap junk. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 8, 2007 Share Posted November 8, 2007 A global recession would do the trick quite well. China doesn't need your resources if the US stops buying cheap junk. A global recession would not help the auto industry. Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 8, 2007 Share Posted November 8, 2007 A global recession would not help the auto industry. Actually it would in the long run. It would force all the automakers into bankruptcy, in which the US government would get the honor of eating all the bad debt Ford and GM have, finally giving the companies a government sponsored break. They would reemerge from bankruptcy rather fast, (Ford would anyway, GM notsomuch) and be much more competitive. It's not like I'm looking forward to it, but the best way to cut the fat is to starve. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 8, 2007 Share Posted November 8, 2007 Actually it would in the long run. It would force all the automakers into bankruptcy, in which the US government would get the honor of eating all the bad debt Ford and GM have, finally giving the companies a government sponsored break. They would reemerge from bankruptcy rather fast, (Ford would anyway, GM notsomuch) and be much more competitive. It's not like I'm looking forward to it, but the best way to cut the fat is to starve. Are you sure the US gov can afford to eat up any more debt ? Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 8, 2007 Share Posted November 8, 2007 Are you sure the US gov can afford to eat up any more debt ? I'm pretty sure if they can ask for $200B more for Iraq, they can eat $20B in debt. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted November 8, 2007 Share Posted November 8, 2007 It was odd to see Fritz Henderson say GM didn't foresee the housing slump. That '07 was going to be bad for housing was apparent in 2006. I can't believe that Ford's economists are so much better than GM's that they predicted the housing slump while GM's didn't. I will, however, believe that Ford's management actually listened to their economists and adjusted their production plan accordingly. Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted November 8, 2007 Share Posted November 8, 2007 (edited) I'm pretty sure if they can ask for $200B more for Iraq, they can eat $20B in debt. The U.S is already on shakey ground. It really can not afford to keep pilling debt upon dept. keep it up for too much longer and you can rename the U.S greenback the U.S peso. Also China manufactuers for the whole planet not just the U.S There are 2 billion+ Chinesse and Indians with a steadly increasing standard of living that are buying Chinesse goods at an incredible rate. The days of the U.S controlling world economy's through their consumer consumption are over. Hell look at Canada. We have since the begining of time have followed the U.S economy. When the states boomed we boomed When the states fell in to a resession we followed right along. Not this time. As the U.S Economy slows ours it still gaining steam at an incredible rate. The U.S no longer has the influance it once did on the global economy's or even ours for that matter. I said a few years back the the U.S was headed for a cliff and they will never have the economic influance they once enjoyed. Boy did I get flamed for that. Well folks here it is. And I said befor hang on tight cause it is going to be hell of a ride befor it hits bottom. Matthew Edited November 8, 2007 by matthewq4b Quote Link to comment Share on other sites More sharing options...
mettech Posted November 8, 2007 Share Posted November 8, 2007 Loss at Volvo with Profit at LR.....Who thought we would ever hear that. Time to dump them all. I imagine that's the same thing Mazda is saying.. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted November 8, 2007 Share Posted November 8, 2007 (edited) Two things, Matt: For 2006, U.S. gross domestic purchases were 14 trillion current U.S. dollars. Of that amount, 9.2 trillion dollars were spent by U.S. consumers. The PURCHASES of U.S. consumers in 2006 were roughly EQUAL to the GDP of China, Germany, and Japan. That is to say, U.S. consumers alone bought products and services in 2006 that offset the net GDP of the next three largest countries on the list. While it is certainly true that the U.S. will not continue to indefinitely hold such a disproportionate amount of consumption, it is just as true that the U.S. consumer still remains, en bloc, the largest 'entity' in the global economy. --- Regarding currency valuation, the dollar's weakness should not be taken as an indication that the Euro is likely to supercede it as the global reserve currency, and that for two reasons: 1) The EU continues to have a far more fractious economy and budgetary system than the U.S., making the idea of a central euro monetary policy more theoretical than real. With any given Euro government feeling free to inflate currency in circulation through deficit spending, the Euro is still subject to the whims of local politics and local electioneering. The euro is hostage to any number of prime ministers, MPs, and local and national election campaigns, as well as local economic (esp. unemployment) policies. 2) The cost of shifting to Euros as the global reserve currency would be mammoth, and because it could not be accomplished instantaneously, would flood the market with dollars, causing a collapse not only to a number of economies, but also to reserve holdings that are still dollar denominated. Therefore, out of concern for their own dollar denominated deposits, there will be no run started by anyone in a position to move the market. Ultimately as with the price of oil, the dollar is on a bubble that will, eventually, burst. There are no significant differences, on a macroeconomic to justify the dollar's valuation now, as opposed to its valuation 3-4 years ago. Edited November 8, 2007 by RichardJensen Quote Link to comment Share on other sites More sharing options...
mettech Posted November 8, 2007 Share Posted November 8, 2007 Actually it would in the long run. It would force all the automakers into bankruptcy, in which the US government would get the honor of eating all the bad debt Ford and GM have, finally giving the companies a government sponsored break. They would reemerge from bankruptcy rather fast, (Ford would anyway, GM notsomuch) and be much more competitive. It's not like I'm looking forward to it, but the best way to cut the fat is to starve. Where did you get your Econ degree? Quote Link to comment Share on other sites More sharing options...
mettech Posted November 8, 2007 Share Posted November 8, 2007 The U.S is already on shakey ground. It really can not afford to keep pilling debt upon dept. keep it up for too much longer and you can rename the U.S greenback the U.S peso. Also China manufactuers for the whole planet not just the U.S There are 2 billion+ Chinesse and Indians with a steadly increasing standard of living that are buying Chinesse goods at an incredible rate. The days of the U.S controlling world economy's through their consumer consumption are over. Hell look at Canada. We have since the begining of time have followed the U.S economy. When the states boomed we boomed When the states fell in to a resession we followed right along. Not this time. As the U.S Economy slows ours it still gaining steam at an incredible rate. The U.S no longer has the influance it once did on the global economy's or even ours for that matter. I said a few years back the the U.S was headed for a cliff and they will never have the economic influance they once enjoyed. Boy did I get flamed for that. Well folks here it is. And I said befor hang on tight cause it is going to be hell of a ride befor it hits bottom. Matthew Quote Link to comment Share on other sites More sharing options...
mettech Posted November 8, 2007 Share Posted November 8, 2007 Total GDP 2006 Ranking Economy (millions of US dollars) 1 United States 13,201,819 :happy feet: 2 Japan 4,340,133 3 Germany 2,906,681 4 China 2,668,071 5 United Kingdom 2,345,015 6 France 2,230,721 a 7 Italy 1,844,749 8 Canada 1,251,463 9 Spain 1,223,988 10 Brazil 1,067,962 11 Russian Federation 986,940 12 India 906,268 13 Korea, Rep. 888,024 14 Mexico 839,182 15 Australia 768,178 16 Netherlands 657,590 17 Turkey 402,710 18 Belgium 392,001 19 Sweden 384,927 20 Switzerland 379,758 21 Indonesia 364,459 22 Poland 338,733 23 Austria 322,444 24 Norway 310,960 25 Saudi Arabia 309,778 26 Denmark 275,237 27 South Africa 254,992 28 Greece 244,951 29 Iran, Islamic Rep. 222,889 30 Ireland 222,650 31 Argentina 214,058 32 Finland 209,445 33 Thailand 206,247 34 Portugal 192,572 35 Hong Kong, China 189,798 36 Venezuela, RB 181,862 37 Malaysia 148,940 38 Chile 145,841 39 Czech Republic 141,801 40 Colombia 135,836 41 Singapore 132,158 42 United Arab Emirates 129,702 43 Pakistan 128,830 44 Israel 123,434 45 Romania 121,609 46 Philippines 116,931 47 Algeria 114,727 48 Nigeria 114,686 49 Hungary 112,899 50 Egypt, Arab Rep. 107,484 51 Ukraine 106,111 52 New Zealand 103,873 53 Peru 93,269 54 Kuwait 80,781 55 Kazakhstan 77,237 56 Bangladesh 61,961 57 Vietnam 60,884 58 Morocco 57,307 59 Slovak Republic 55,049 World Development Indicators database, World Bank, 1 July 2007 Quote Link to comment Share on other sites More sharing options...
mettech Posted November 8, 2007 Share Posted November 8, 2007 I enjoy reading the "gloom and doom" groupies and the "sky is falling" prognosticators about the United States economy on BON. I just posted the GDP from the leading nations in the world. World GDP for 2006 It is hard to imagine that any of you nay sayers have attended any Economics courses. :shades: Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 8, 2007 Share Posted November 8, 2007 Where did you get your Econ degree? I minored in Econ at the University of Michigan-Ann Arbor and continued to take econ while at my Master's program at Duke. Quote Link to comment Share on other sites More sharing options...
mettech Posted November 8, 2007 Share Posted November 8, 2007 I minored in Econ at the University of Michigan-Ann Arbor and continued to take econ while at my Master's program at Duke. Then is this your Thesis? "Actually it would in the long run. It would force all the automakers into bankruptcy, in which the US government would get the honor of eating all the bad debt Ford and GM have, finally giving the companies a government sponsored break. They would reemerge from bankruptcy rather fast, (Ford would anyway, GM notsomuch) and be much more competitive. It's not like I'm looking forward to it, but the best way to cut the fat is to starve. " Quote Link to comment Share on other sites More sharing options...
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