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

Gallery

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

We would like our readers to start paying for Daily Maverick...

…but we are not going to force you to. Over 10 million users come to us each month for the news. We have not put it behind a paywall because the truth should not be a luxury.

Instead we ask our readers who can afford to contribute, even a small amount each month, to do so.

If you appreciate it and want to see us keep going then please consider contributing whatever you can.

Support Daily Maverick→
Payment options