Free Republic

Amidst today’s wild roller-coaster ride on Wall Street, the news about Ford Motors jumps out. Here’s Barron’s headline: Ford Stock Had Its Worst Day Since 2008 Ford Motor reported earnings that were worse than what Wall Street had expected: Its commercial business couldn’t overcome higher warranty costs. And the stock took it on the chin Thursday. . . On Wednesday, Ford announced a second-quarter operating profit of $2.8 billion, down 26% from $3.8 billion reported in the second quarter of 2023. Wall Street was looking for $3.7 billion, according to FactSet. Barron’s goes on to note that Ford is experiencing...

Ford Motor Co. is planning to cut as many as 8,000 jobs from its internal combustion engine division as it seeks to channel more funding into its electric vehicle division. The cuts, reported by Bloomberg, follow Ford CEO Jim Farley's previously announced plans to cut $3 billion in company costs by 2026, including through employee layoffs, as well as his efforts to restructure the company radically. To that end, Farley has separated Ford into two separate units: “Ford Blue,” which focuses on traditional, industrial combustion engine vehicles, as well as the newer “Model E” division that focuses solely on EV...