Industry experts expected a 3rd-quarter loss for Fordbut not a $5.8 billion loss
. This is Ford's eighth reported loss in the past nine quarters. "These business results are clearly unacceptable," Alan Mulally, Ford's chief executive officer, said. "We are committed to dealing decisively with the fundamental business reality that customer demand is shifting to smaller, more efficient vehicles."
This news just adds an another exclamation point to the seriousness of the Ford situation...
estreka says:
08:26 AM, 10/23/06
Wow. Is this Ford's biggest loss yet? That's half of GM's entire annual loss last year. The road to recovery just got a whole lot bumpier.
On another note, I'm scouring the net for info on the Way Forward plan. Anybody know how many employees have actually been cut? I can't imagine all the layoffs have occured already.
mirth says:
09:28 AM, 10/23/06
Buyouts won't take affect until year-end. Layoffs won't start until Feb of 2007.
ateixeira says:
12:02 PM, 10/23/06
"customer demand is shifting to smaller, more efficient vehicles" and all Ford can offer you for sale is a 10 year old Focus design that is basically the last-generation model. Pathetic.
cargeek5 says:
10:20 AM, 11/23/06
Mabey Ford will join up with GM. If that day ever happens that will be one of the best days of my life. Ha! Ha! Ha!