Ford reaping solid profits after turnaround

The Island Packet ^ | July 23, 2010 | DEE-ANN DURBIN and TOM KRISHER AP Auto Writers

[mdittmar]

DEARBORN, Mich. — Four years ago, Ford mortgaged everything down to the blue oval logo to save itself. Now, even as Americans remain skittish about the economy, it's reaping big rewards and stealing business from stumbling rivals.

Ford said Friday that it made $2.6 billion from April through June, its fifth straight quarterly profit. The company, which reported record losses in 2008, now predicts it will end 2011 with more cash than debt.

With its two longtime Detroit rivals still finding their way after spending time in bankruptcy last year, Ford, which never took government bailout money, extended its success story.

[Bookie1066]

Bought a new Ford Focus in 2005. Had it for six months and got caught in a 5 car chain reaction accident. The first car was going 80 when he hit the first car waiting at a stop light. I was number 2. Two more were hit. Car was totaled with 1900 miles on it but I walked away. Went right back and bought another one. Next one will be a Ford truck that can tow an RV when I retire.