Tuesday, April 27, 2010

FORD - practice and rewards of the Free Market System

Ford had a revenue of 146.277 billion in 2008.
We all are well aware that the Fed now owns the majority of GMC and Chevy, (yes, GM is the parent company of Chevy) the two other major domestic competitors. 
"On June 1, 2009, General Motors filed for Chapter 11 bankruptcy proceedings, which were completed on July 10 of the same year, and it was thereafter reorganized once a new entity acquired the most valuable assets. GM is now temporarily majority owned by the United States Treasury and, to a smaller extent, the Canada Development Investment Corporation with the US government investing a total of US$57.6 billion under the Troubled Asset Relief Program."
But Ford never took any bailout money.  They stuck to free market principles.  Turns out that was best for all of us. 
We didn't have to bail them out, and Ford has done the work to make a turn for the better - even in these hard economic times of double digit unemployment...

Ford turns another profit but worries hurt shares
DEARBORN, Mich. – Ford Motor Co. earned $2.1 billion in the first quarter as the economic clouds parted and consumers grew confident enough to buy cars again. But the confidence didn't extend to investors, who pushed Ford's shares down Tuesday on concerns that the automaker's recovery isn't sustainable.
The profit of 50 cents per share was Ford's fourth straight positive quarter and its highest quarterly profit in six years. It's an about-face from the same period last year, when Ford lost $1.4 billion, or 60 cents per share, at the height of the recession. Ford said it expects to be solidly profitable this year, a year earlier than its previous guidance.
About Ford Motor Company - HERE
The Life of Henry Ford - HERE

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