Ford Loses $1.2B in 1st quarter

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Please note that the loss includes a one-time pretax charge of $1.7 billion resulting from the current restructuring (paying for buyouts, Jobs Bank for workers from closed/idled plants, etc).



Without the one-time charge of $1.7 billion, 1Q profit was around $450 million.

 
Yes a pre-tax and Sales fell 9 percent to $41.1 billion from $45.1 billion a year ago.



Worldwide, Ford's automotive operations lost $2.7 billion before taxes, compared with a profit of $473 million a year ago.
 
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Its also important to note that F has been poorly mis-managed ever since Trotman left. Jac Nasser set it back 20 years. Bad management= market share loss= plant closings. Bill Jr. even admittied the mistakes made by the company from Firestone to getting caught with thier pants down with regard to gas prices. The company is in a STRONG position to negotiate w/ the UAW in Sept. of 07 as far as buyouts and packages. They will still provide buyouts/incentives after 07 when the mentioned plants are in fact idled.
 
Nasser diverted too much money to Jaguar. He wanted Jaguar to compete with BMW's and Mercedes.



IMO, nobody, and I mean nobody, should be CEO with any other name besides Ford.





Tom
 
I'm a FoMoCo employee, the times we are going through are difficult right now, my plant Atlanta Assy is slated to close at the end of the year. I have to decide whether to stick it out or *bail*. I will decide what to do at that time. As far as Jac Nasser goes, we have a poor opinion of him, he managed to blow 26 BILLION dollars of FoMoCo $$$ which would have made a good cash reserve to fund R&D and product upgrades. Jac tried to establish Ford as a Premium brand or *Premier Automotive Group* with Jag, Lincoln Volvo,Aston Martin, ete,ete. He forgot one undeniable fact. Ford is basically *blue collar* We build cars for the *working class* That is what Henry Ford did in the beginning. Jac allowed the Ford name to languish and stay on the back burner. I believe that is part of the reason he killed off the Taurus SHO. It competed too well against the premium brands. Now we are trying to fund new product development and the cash reserves are pretty low, that makes it more difficult. Also the market is much different than it was earlier, there are many new players on the market. We are trying to change over more products more quickly to meet customer demands. I am trying to be optimistic. I remember that Ford was in the crapper back in the early 80's and we survived and prospered again. I am hopeful that it will happen again.



Y'all have a good one



Bob
 
Bob,



My father Retired from Ford. I bleed Ford Blue. Dad's opinion of Nasser is like yours. When Bill Ford took over, the guys were happy. I can't imagine how much it pisses you off to see the imports selling cars like they do.



I hope the best for you. I know Ford will pull themselvess out of the slump they are in and take over the position Ford so rightly deserves.





Tom
 
Thanks Tom,



It does piss me off, especially to walk into my plant parking lot and see the new imports that people buy. the people that buy them are usually what I call the *medical,AWOL,slackers*. They have no stake in FoMoCo, it is just another entitlement to them. I am a union official and I hated to do my job and protect these people even though as an employee and a stockholder I WANTED them GONE.:angry: But I did my job and saved these people sorry butts...again. No I have to decide whether to move or take the buyout. I still have a bit of time to decide:unsure:



Well y'all have a good one



Bob
 
Bob,



And do you honestly think those people that work for Ford, but decide to buy something else really care about thier job? Working for an insurance company and not using that insurance is no big deal. nobody drives around with a type of ID that says "Progressive insured" or "Protected by Nationwide" where everyone can see it. Someone driving by a Ford plant can see what an employee is driving while it is in the parking lot. If it were up to me, you choose not to drive what you build, walk to work or don't work here. If the guy that builds the car drives something else, why should I buy that brand. if you work at Toyota, by all means buy a Toyota. If you work for Honda, I am upset when someone drives something other then a Honda. When you work for Ford, I expect you to buy a Ford. It isn't like you can get a better deal buying something else. Afterall, only you can protect your job.





Tom



Boilermakes Local 900 member

...and damn proud of it.
 
I agree. I have told people that it is *perception* Sure we can't tell you what to buy, it is your money. But to buy a non FoMoCo product is shortsighted. If you work at Ford and buy another brand, your neighbors whom might be thinking about a Ford, sure won't do it now. They will be thinking"what does he know that the average consumer don't know" and another potential sale is gone. I unfortunately have a work ethic, I have to do my best. I have commented more than once that the company would do a better job of canning the slackers if they were consistant all the time. the dirtbags being dirtbags can't stay clean and will hang themselves.



Have a good one



Bob



Local 882 UAW
 
I drive by the Chrysler plant in St Louis fairly regularly. It says a lot about the vehicles being made there if all I see are Honda, Hyundai, Suzuki, etc. That tells Joe Blow not to buy Chrysler. I am surprised that you UAW folks havn't demanded that any non-(insert name of company) vehicles get parked in a remote area not visable from any major street/highway or appear to be associated with the manufacturing plant.
 
Actually, thye UAW would not allow anyone that doesn't drive a UAW built (READ: American) car to part in thier parking lot. People here thought it was absurd of the UAW doing that. Ford then told employees that if they don't drive a Ford, they must park in a different lot. Again, people here thought Ford was out of line.



Go figure...



My dad built Ford, my family drives Ford. End of discussion. Dad drove what he built and he was damn proud of it!!!





Tom
 
For once, I'm in agreement with you guys. It would be like me going on vacation and renting from a car rental company other than Hertz.



It bugs the crap out of me that my wife's company uses Avis exclusively. I laugh when she tells me of the crappy cars and service she has received from them.
 
Darin,



Didn't you once "technically" work for Ford?



I do agree with you though. You work for Hertz (once owned by Ford Motor Company) you should rent from Hertz.





Tom
 
The Day in the Life of a Proud, American FORD Owner



I started the day like any other. My Sony alarm clock-radio-dvd player woke me at 7:00am and I listened to it as I shaved. Man that Braun rasor is awesome. Then, into the shower; boy that Italian shower heads really does put out the high pressure.



Then I ate breakfast, sitting at the table and chairs I got from Ikea. Then it was out the door, to jump into my Sport Trac.



On my lunch break, I ran some errands. I went to the Home Depot to get some fix-it supplies, and sure, it's a little out of the way, but it has a much larger selection than the mom-and-pop store next to my house. On the way back to the office I stopped at WalMart to get a new DVD, and impluse bought a couple of grocery items...it sure is great to have that convenience; I don't see how the smaller grocery stores can compete!



I worked the rest of the day, but then stopped at the LukOil on the way home to fill up the ST.



I pulled the ST into the driveway, got out, and felt good about all the jobs I am saving!
Click to expand...



TJR
 
Caymen: Until last year, we were a wholly owned subsidiary of Ford. However, we still bought other makes for our fleet. That hasn't changed with the new owners.



We've changed ownership a number of times in the 20 years I've worked here. GE, RCA, heck even United Airlines owned us for a time.



I looked at Ford as just yet another 'temporary' owner.



While I do own 2 Ford vehicles, I have no loyalty to their products then or now. My direct employer does have my loyalty for as long as I'm employed by them.
 
The Day in the Life of a Proud, American FORD Owner



I started the day like any other. My Sony (<B>Is there an alarm still made in America?</B>) alarm clock-radio-dvd player woke me at 7:00am and I listened to it as I shaved. Man that Braun rasor is awesome. (<B>Is there a shaver still made in America?</B>) Then, into the shower; boy that Italian shower heads really does put out the high pressure. (<B>Is there an shower head still made in America?</B>)



Then I ate breakfast, sitting at the table and chairs I got from Ikea. (<B>IKEA...How gay </B>) Then it was out the door, to jump into my Sport Trac.



On my lunch break, I ran some errands. I went to the Home Depot to get some fix-it supplies, and sure, it's a little out of the way, but it has a much larger selection than the mom-and-pop store next to my house. (<B>The last Mom and Pop hardware store just closed in my town last week</B>) On the way back to the office I stopped at WalMart to get a new DVD, and impluse bought a couple of grocery items...it sure is great to have that convenience; I don't see how the smaller grocery stores can compete! (<B>I quit shopping at Wal-Mart years ago.</B>)



I worked the rest of the day, but then stopped at the (<B>I used oil refined by Marathon/Ashland Petroleum LLC which unfortunatly refines oil from the Mid-East, but I have no choice since the government thinks it is better to depend on those that hate you then yourself, but the refinery is in the area.</B>) on the way home to fill up the ST.



I pulled the ST into the driveway, got out, and felt good about all the jobs I am saving!
Click to expand...





Tom
 

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