Defend Truth

Ford’s roller-coaster ride continues with almost $1 billion third quarter profit

It’s never boring reporting about the company Henry built. First, Ford became the only big US car manufacturer to dodge bankruptcy in 2008, then it appeared to be winning even more, after striking a deal with union leaders to cut costs across the board. But then, the high turned to a low, with unions telling their own leaders to go jump into Lake Michigan, as we reported yesterday. But another day brings another turn - this time a good one for Ford as the company reported a surprise $997 million quarterly profit, spurred by the first money-making quarter for its North American operation in four years, that in turn was helped immensely by the US government’s Cash-for-Clunkers programme. Crucially, Ford reported $23.8 billion in cash reserves and it expects to make a solid full-year profit in 2011. Now, if only the unions would climb on board... Read more: New York Times, BusinessWeek


Please peer review 3 community comments before your comment can be posted

A South African Hero: You

There’s a 99.8% chance that this isn’t for you. Only 0.2% of our readers have responded to this call for action.

Those 0.2% of our readers are our hidden heroes, who are fuelling our work and impacting the lives of every South African in doing so. They’re the people who contribute to keep Daily Maverick free for all, including you.

The equation is quite simple: the more members we have, the more reporting and investigations we can do, and the greater the impact on the country.

Be part of that 0.2%. Be a Maverick. Be a Maverick Insider.

Support Daily Maverick→
Payment options