Ford reports record yearly loss

[dipsydoodle]

Source: BBC News

US carmaker Ford has reported the biggest full-year loss in its history, but said it still was not going to ask for government loans.

Ford said its net loss for the fourth quarter of 2008 was $5.9bn (£4.1bn). For the whole year, the loss amounted to a record $14.6bn.

Unlike its rivals General Motors and Chrysler, Ford so far has not sought federal loans.

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Ford's previous record yearly loss of $12.6bn was reported in 2006.

Read more: http://news.bbc.co.uk/1/hi/business/7858289.stm

[dkf]

1. After seeing the bank losses, this seems small potatoes.

I guess it brings home how screwed up everything is.

[madrchsod]

2. they have the best new products of any auto company

and still can`t find anyone with money/job to buy their cars and trucks. looks like my daughter will be drawing unemployment for the next 39 weeks and after that.. who knows.

[dipsydoodle]

3. Is there a simple answer

to the question - how come Ford doesn't need the bailout and the other do ? Is it something to do with production and sales outside of the USA ?

[madrchsod]

4. opps---the guy that runs ford

basically went to the pawn shop with every asset that had a ford name on it. he even put up the titles to the ford "owned" homes. ford also has had solid sales in the overseas market as did general motors. the jeep brand also sells well across the world.

both ford and gm finally have cars that are "world class" but there`s no one that will or can buy them right now.