Posted on 10/23/2006 9:29:48 AM PDT by Navy Patriot
DEARBORN, Mich. - Ford Motor Co. said Monday its loss widened to $5.8 billion in the third quarter, weighed down by the costs of its massive restructuring plan aimed at reshaping the company and cutting expenses so it can compete better against lower-cost rivals from overseas.
It was the largest quarterly loss in more than 14 years for the nation's second biggest automaker, and company officials predicted things would get worse in the fourth quarter as market share drops and Ford pays for further plant closures and restructuring costs.
The July-September performance brings Ford's losses to $7.24 billion for the first nine months of the year.
(Excerpt) Read more at examiner.com ...
Bad cars ...bad policy...makes bad business...
they could have had a fleet of Hybrids.....and be in the lead....but now they follow....or chase...sad to see the US failing....but now companies will come up with NEW ideas..and succeed
I didn't accuse the government of forcing these concessions on Ford. Business can volunteer into socialist economic policies, it's a free country. Future growth contingencies would change the business practice to capitalistic. As you point out, that would be a more wise policy.
This reminds me of a story on here a couple of months ago, pointing out that GM spends more on viagra and sex enhancement drugs for retirees than they spend on new product development.
I imagine Ford is in the same boat, and wonder how long a company can go on when it spends more on stuff like that than developing new products?
Among the big three, Ford is by far the most socialistic. The financial troubles are well deserved.
When Ford remembers that their business was built on customers and not on comforting the union socialists, then they might have an opportunity to be successful again - if it's not too late.
I guess advertising in all those gay magazines isn't paying off like they expected!
Many businesses incorporate minor to major socialist policies in their model. Socialism has an economic component as well as a political. When discussing business economics I will state if a political component is suspected, otherwise it's economic.
GM will make it, because their products (the new ones) are better.
Ford has a product problem, as well as the other issues.
providing pension and retiree medical benefits is not "socialism".
in fact, you'll see socialism sooe as more and more companies are dropping those benefits, and those workers run to the government to get them. then it will be socialism.
Damn capitalists! /S
I've heard of that exact job, I think the US steel industry has the same policy.
I wish Ford's problem was their gay pandering, but I tend to think it's the crummy vehicles they make.
Just a few years ago top management at FoMoCo complained about the "sea of white faces" around FoMoCo.
So I for one vowed to honor their wishes. I stayed away.
Now they are complaining about too few customers.
Go figure.
Quick quiz:
The purpose of a business is to:
(1) Provide full health benefits to working and retired employees.
(2) Provide a product or service to customers at a competitive price for profit.
Funny....
Ford's retail sales are climbing since the AFA boycott...
my point is, its not socialism. wages and benefits, pension and medical, is not "socialism".
that prevalent conservative attitude about people who work for wages, is killing our party. our economic message to workers is non-existent.
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