30 OTT 6 Posted October 23, 2006 Share Posted October 23, 2006 I doubt that anybody was expecting differantly though. - - - - - - - - - - Retuers Link BusinessWeek Link Ford Press Release Link links added by staff - - - - - - - - - - Quote Link to comment Share on other sites More sharing options...
Edgey Posted October 23, 2006 Share Posted October 23, 2006 (edited) This is quite a convergence of bad Ford news opportunities for the media to exploit. The Taurus cancellation is seen as the demise of Ford and now a massive loss...let the blood letting begin! I think we all know the next 12 months or so are going to be VERY bad months for Ford. It's like chemotherapy, Lets hope they come out if it with renewed life! Edited October 23, 2006 by Edgey Quote Link to comment Share on other sites More sharing options...
Bluecon Posted October 23, 2006 Share Posted October 23, 2006 I was wrong. they never lost 6 million> Quote Bluecon Sept. 21 2006 "If Chrysler will lose 1.5 billion what will Ford lose? I guess a minimum of 6 billion" Quote Link to comment Share on other sites More sharing options...
mkaresh Posted October 23, 2006 Share Posted October 23, 2006 Nope, only 5.8 billion...can you try to be closer next time? What'll probably hurt more than the earnings report is the restatement of earnings back to 2001. This will hammer the stock price, assuming there's still room to sink. Every time earnings are restated, I wonder why they don't go back to executives who earned bonuses based on the inflated results and get a partial refund. Of course this never happens. Quote Link to comment Share on other sites More sharing options...
Noah Harbinger Posted October 23, 2006 Share Posted October 23, 2006 I love how there are always press releases about how great Ford's products are the day they announce bad news... I was wrong. they never lost 6 million> Quote Bluecon Sept. 21 2006 "If Chrysler will lose 1.5 billion what will Ford lose? I guess a minimum of 6 billion" Be fair, only 1.8 Billion was actual losses, the rest was restructuring costs. From that perspective DCX barely outpaced Ford. Quote Link to comment Share on other sites More sharing options...
Bluecon Posted October 23, 2006 Share Posted October 23, 2006 I love how there are always press releases about how great Ford's products are the day they announce bad news...Be fair, only 1.8 Billion was actual losses, the rest was restructuring costs. From that perspective DCX barely outpaced Ford. 1/ It is 5.8 billion in losses no matter how you slice it. 2/ DCX made a profit. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted October 23, 2006 Share Posted October 23, 2006 What'll probably hurt more than the earnings report is the restatement of earnings back to 2001. This will hammer the stock price, assuming there's still room to sink. Every time earnings are restated, I wonder why they don't go back to executives who earned bonuses based on the inflated results and get a partial refund. Of course this never happens. Not necessarily: "Although the final restatement amounts have not yet been determined, we estimate based on the information to date that Ford and Ford Motor Credit Company's results in 2002 will improve materially. Other periods are still under study." Quote Link to comment Share on other sites More sharing options...
Mark B. Morrow Posted October 23, 2006 Share Posted October 23, 2006 1/ It is 5.8 billion in losses no matter how you slice it.2/ DCX made a profit. If Chrysler lost 1.5 Bln how exactly is that a profit? Quote Link to comment Share on other sites More sharing options...
Bluecon Posted October 23, 2006 Share Posted October 23, 2006 (edited) If Chrysler lost 1.5 Bln how exactly is that a profit? Where did say I Chrysler made a profit? Edited October 23, 2006 by Bluecon Quote Link to comment Share on other sites More sharing options...
atomcat68 Posted October 23, 2006 Share Posted October 23, 2006 Blucon said DCX made a profit. Daimler floated Chrysler. A reversal of a few years ago when Chrysler held up Daimler. Quote Link to comment Share on other sites More sharing options...
bolita Posted October 23, 2006 Share Posted October 23, 2006 My guess is that the strategy is to get all the bad numbers out now so that Ford gets hammered by the press today and if the plan works we would see better improvement - perhaps as early as January when 4th quarter numbers are released. Quote Link to comment Share on other sites More sharing options...
PapaTango Posted October 23, 2006 Share Posted October 23, 2006 And to think this time last year I was actually trying to buy a new Mustang GT and had my name on the dealer's list for a Shelby GT500. Both deals went sour because of dealer greed (Shelby GT500) and Ford's inability to build me a car like I wanted (Mustang GT). Ford is bleeding to death and there is not a tourniquet big enough to stem the flow. How many $5.8B deficits can you take before they pull the plug? Consumer confidence in Ford is at an all-time low. How many buyers are going to sink their earnings into a new car that the manufacturer may not be around to stand behind in 2 years? Ford better start looking for another manufacturer to pardner up with (i.e. GM or Renault) before its too late. Quote Link to comment Share on other sites More sharing options...
630land Posted October 23, 2006 Share Posted October 23, 2006 (edited) If not for the Germans, Chrysler would have died by now. OTHO wouldn't all those Tauruses sold in Sept have helped? Cuz 'the tooling is paid for and they are free $$', right?? Edited October 23, 2006 by 630land Quote Link to comment Share on other sites More sharing options...
Bluecon Posted October 23, 2006 Share Posted October 23, 2006 If not for the Germans, Chrysler would have died by now. How do you know that? OTHO wouldn't all those Tauruses sold in Sept have helped? Cuz 'the tooling is paid for and they are free $$', right?? Makes no sense. Quote Link to comment Share on other sites More sharing options...
30 OTT 6 Posted October 23, 2006 Author Share Posted October 23, 2006 Be fair, only 1.8 Billion was actual losses, the rest was restructuring costs. From that perspective DCX barely outpaced Ford. While I understand what you are saying, I believe that these restructuring costs is just time catching up with FoMoCo. All the corner cutting savings, postponed design changes, and overall product shortsightedness of yesturday are all represented in those restructuring costs today. Pay now or pay later. Ford decided to pay later, here it is - with interest. A good lesson for all business people. Quote Link to comment Share on other sites More sharing options...
2005GTP Posted October 23, 2006 Share Posted October 23, 2006 In another article, it says the following: "Dearborn-based Ford's turnaround plan aims to cut $5 billion in costs by the end of 2008 by slashing 10,000 white-collar workers and offering buyouts to all of its 75,000 unionized employees." 5 billion in cost savings at their current pace of 1+ billion a quarter in automotive operations loss will only have them breaking even. They don't plan on being profitable until 2009. I feel sorry for anyone who works for Ford. I know they have a very scetchy policy of who they hire and we know they cannot design products worth a crap so I cannot see how low profit margin vehicles like the Fusion can turn this company around. Ford can't sell their cars at full price so I don't care how many costs they cut, they cannot sell many vehicles at the margins they did in the 90's so at best, if Ford becomes profitable again, they will be a low profit company. You will not be seeing 1.5 billion a quarter like the 90's. Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted October 23, 2006 Share Posted October 23, 2006 I feel sorry for anyone who works for Ford. I know they have a very scetchy policy of who they hire and we know they cannot design products worth a crap so I cannot see how low profit margin vehicles like the Fusion can turn this company around. Ford can't sell their cars at full price so I don't care how many costs they cut, they cannot sell many vehicles at the margins they did in the 90's so at best, if Ford becomes profitable again, they will be a low profit company. You will not be seeing 1.5 billion a quarter like the 90's. Low Profit Fusion? They make more $$$ on Fusion they do with a Mustang :rolleyes: Quote Link to comment Share on other sites More sharing options...
Bluecon Posted October 23, 2006 Share Posted October 23, 2006 Low Profit Fusion? They make more $$$ on Fusion they do with a Mustang :rolleyes: People continue to say what a great profit maker the Fusion is. It is often posted in BON with never anything to back up the statement. Where does the info on Ford profits for each model come from? Link? Quote Link to comment Share on other sites More sharing options...
MGallun Posted October 23, 2006 Share Posted October 23, 2006 People continue to say what a great profit maker the Fusion is.It is often posted in BON with never anything to back up the statement. Where does the info on Ford profits for each model come from? Link? People continue to say what a LOW profit maker the Fusion is. It is often posted in BON with never anything to back up the statement. Where does the info on Ford profits for each model come from? Link? In another article, it says the following: "Dearborn-based Ford's turnaround plan aims to cut $5 billion in costs by the end of 2008 by slashing 10,000 white-collar workers and offering buyouts to all of its 75,000 unionized employees." 5 billion in cost savings at their current pace of 1+ billion a quarter in automotive operations loss will only have them breaking even. They don't plan on being profitable until 2009. I feel sorry for anyone who works for Ford. I know they have a very scetchy policy of who they hire and we know they cannot design products worth a crap so I cannot see how low profit margin vehicles like the Fusion can turn this company around. Ford can't sell their cars at full price so I don't care how many costs they cut, they cannot sell many vehicles at the margins they did in the 90's so at best, if Ford becomes profitable again, they will be a low profit company. You will not be seeing 1.5 billion a quarter like the 90's. fusion is being sold at pretty close to retail price, you can get 1k rebate, thats it... probably alot better than a 2005 GTP. lol Quote Link to comment Share on other sites More sharing options...
DCK Posted October 23, 2006 Share Posted October 23, 2006 ---What fantastic news, I mean this news should bring new hope to Ford, this loss only cements the fact that they are spending the nessecary amount of money to turn the compan around. All you nay sayers are really clueless.............................. Sorry I catched the RichardJensen disease now I can only spin terrible news into great news. Quote Link to comment Share on other sites More sharing options...
MGallun Posted October 23, 2006 Share Posted October 23, 2006 (edited) ---What fantastic news, I mean this news should bring new hope to Ford, this loss only cements the fact that they are spending the nessecary amount of money to turn the compan around. All you nay sayers are really clueless..............................Sorry I catched the RichardJensen disease now I can only spin terrible news into great news. well, this was expected... really for anyone who has been paying attention, this really isnt new news... anyways, cut away the charges.. it was 2billion in sales... bad, but the media will say, omg they lost 5billion in sales... but... what makes me think rut ro is.. they said they expect the larger chunks of restructoring to happen next year? doh.. now that makes you say hmmmmmm... not cool, sales need to pick up.. eh, doing my part, bought a new fusion in august, got 4 people too buy fords this year too. Edited October 23, 2006 by MGallun Quote Link to comment Share on other sites More sharing options...
DCK Posted October 23, 2006 Share Posted October 23, 2006 well, this was expected... really for anyone who has been paying attention, this really isnt new news... anyways, cut away the charges.. it was 2billion in sales... bad, but the media will say, omg they lost 5billion in sales... To get to the point I honestly am not too upset with the news because GM went from a Huge change in quarter four of 2005 to quarter one of 2006. The problem is GM has a better portfolio of upcoming launches for next year for has really nothing new everything seems pushed back till 2008-2010 so the next few years will be hell. Quote Link to comment Share on other sites More sharing options...
MGallun Posted October 23, 2006 Share Posted October 23, 2006 To get to the point I honestly am not too upset with the news because GM went from a Huge change in quarter four of 2005 to quarter one of 2006. The problem is GM has a better portfolio of upcoming launches for next year for has really nothing new everything seems pushed back till 2008-2010 so the next few years will be hell. i just dont understand this statement... what exactly is so brand new and great about GMs ucoming stuff? and saying for has nothing is rather odd.. considering a new Escape\Mariner next year, a freshed and uppowered 500 next, redid foci next year, edge.. lincoln and mercury counterparts etc... what exactly goes gm have? Quote Link to comment Share on other sites More sharing options...
Edgey Posted October 23, 2006 Share Posted October 23, 2006 (edited) Did anybody hear Mulally announce the loses? This guy does not engender confidence, especially when he sounds just shocked and surprised like a regretful father of a misbehaving teenager. He sounds like he's apologizing for his company’s misbehavior. Of course we know it's 'unacceptable'! This could have been spun a lot better than it has been. Edited October 23, 2006 by Edgey Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted October 23, 2006 Share Posted October 23, 2006 This begs the question, what the hell happened 14 years ago at Ford when they had a worse quarterly report??? I know the country was in a recession, but a loss like this suggest there was more wrong then just that. To keep a positive outlook on this, Ford made $27 Billion 5-6 (1997-98) years after this. Quote Link to comment Share on other sites More sharing options...
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