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  • how to lose a mustang in a minute

    http://articles.moneycentral.msn.com...tEverLoss.aspx

    Ford reports its worst loss ever
    The whopping $12.75 billion annual loss translates to $34.8 million each day -- or a brand-new Mustang convertible every minute. And the U.S. automaker's struggles are nowhere near over.

    MoreWhat a way for Ford Motor (F, news, msgs) to kick off a year.

    The struggling U.S. automaker today reported that its fourth-quarter 2006 loss totaled $5.8 billion -- yes, that's billion. That translates to a loss of $3.05 per share, worse than the $74 million loss, or 4-cent-per-share loss, Ford reported in the same quarter a year ago.

    Excluding special items -- mostly from buying out its workers -- Ford said its loss would have been $1.10 per share; analysts were expecting a loss of $1.01 per share.

    Ford's shares rose early in the day, but closed just 2 cents up at $8.22 amid broad market declines.

    A Mustang a minute
    The full-year loss totaled $12.75 billion, the worst in the company's 103-year history. Broken down, the annual losses amount to a loss of a brand-new Ford Mustang convertible (MSRP: $24,100) every single minute.


    In fact, any way you look at it, the loss breakdown is pretty ugly:

    $34,795,000 per day

    $1,450,000 per hour

    $24,100 per minute


    Previously, Ford's worst loss had been in 1992, when the automaker reported a yearly loss of $7.39 billion.

    As of yesterday's close, shares of Ford were down 3% for the year -- although today's gains erased much of the loss. Ford blamed plummeting truck sales, a billion-dollar charge for employee buyouts and a 24% reduction in North American production.

    No improvement soon
    Ford said it does not expect to see an improvement in the first half of 2007 but did say it expects losses to narrow later in the year.

    Video: Ford's CEO promises a return to profitability by 2009

    Still, at least one analyst remains skeptical. "We're in the first or second inning of a turnaround plan," portfolio manager Dan Poole at National City told Bloomberg News. "You aren't going to see the numbers turn for quite a while yet -- we think the second half of 2008 at best."

    Weaker lineup, sinking share
    The company had a weaker lineup of models last year, as it built fewer automobiles to reflect sinking market share. Its Taurus sedan was once the country's best-selling car, but it was discontinued in 2006 because demand mostly came from car rental agencies. Ford also got out the minivan business last year.

    But while demand (and production) dropped, Ford's expenses didn't. The company ended up with many truck factories that were doing nothing in the fourth quarter, while union workers were still being paid.

    Stock Charts (Year)
    Ford Motor
    Ford, in response, offered all 75,000 of its factory workers buyouts or enhanced retirement packages to entice them to leave; 38,000 workers took the deal.

    This was the first quarter for new CEO Alan Mulally, who took the reins on Oct. 1, after family scion Bill Ford stepped down from the job. Mulally, who came from Boeing, has been trying to resuscitate the automaker with more job cuts and plant closings.

    Mulally is also facing the harsh reality that Ford, long the No. 2 U.S. automaker, will now come in third, behind Japanese automaker Toyota Motor (TM, news, msgs) and No. 1 General Motors (GM, news, msgs).

    By Elizabeth Strott





    wow give me one for free!!!!!!!!!!!!!! i wont tell anyone

    what happens on daylight savings do they have 60 cars leftover and who gets em!
    sigpic

    sig by B4B6..

  • #2
    Ouch! That's pretty bad. Reminds me of when I tried my hand at Finances in SimCity
    Rest in Peace, Darrent and Damien. You will be forever in our thoughts

    Comment


    • #3
      Originally posted by SmithOverTO
      Ouch! That's pretty bad. Reminds me of when I tried my hand at Finances in SimCity
      yeah that SimCity finances is pretty tuff. goodluck with that.
      [CENTER]“The reverb noise is nowhere near as loud as it was at Mile High, but the fans are catching on.”- Pat Bowlen



      Comment


      • #4
        Originally posted by lynchembaby
        http://articles.moneycentral.msn.com...tEverLoss.aspx

        Ford reports its worst loss ever
        The whopping $12.75 billion annual loss translates to $34.8 million each day -- or a brand-new Mustang convertible every minute. And the U.S. automaker's struggles are nowhere near over.

        MoreWhat a way for Ford Motor (F, news, msgs) to kick off a year.

        The struggling U.S. automaker today reported that its fourth-quarter 2006 loss totaled $5.8 billion -- yes, that's billion. That translates to a loss of $3.05 per share, worse than the $74 million loss, or 4-cent-per-share loss, Ford reported in the same quarter a year ago.

        Excluding special items -- mostly from buying out its workers -- Ford said its loss would have been $1.10 per share; analysts were expecting a loss of $1.01 per share.

        Ford's shares rose early in the day, but closed just 2 cents up at $8.22 amid broad market declines.

        A Mustang a minute
        The full-year loss totaled $12.75 billion, the worst in the company's 103-year history. Broken down, the annual losses amount to a loss of a brand-new Ford Mustang convertible (MSRP: $24,100) every single minute.


        In fact, any way you look at it, the loss breakdown is pretty ugly:

        $34,795,000 per day

        $1,450,000 per hour

        $24,100 per minute


        Previously, Ford's worst loss had been in 1992, when the automaker reported a yearly loss of $7.39 billion.

        As of yesterday's close, shares of Ford were down 3% for the year -- although today's gains erased much of the loss. Ford blamed plummeting truck sales, a billion-dollar charge for employee buyouts and a 24% reduction in North American production.

        No improvement soon
        Ford said it does not expect to see an improvement in the first half of 2007 but did say it expects losses to narrow later in the year.

        Video: Ford's CEO promises a return to profitability by 2009

        Still, at least one analyst remains skeptical. "We're in the first or second inning of a turnaround plan," portfolio manager Dan Poole at National City told Bloomberg News. "You aren't going to see the numbers turn for quite a while yet -- we think the second half of 2008 at best."

        Weaker lineup, sinking share
        The company had a weaker lineup of models last year, as it built fewer automobiles to reflect sinking market share. Its Taurus sedan was once the country's best-selling car, but it was discontinued in 2006 because demand mostly came from car rental agencies. Ford also got out the minivan business last year.

        But while demand (and production) dropped, Ford's expenses didn't. The company ended up with many truck factories that were doing nothing in the fourth quarter, while union workers were still being paid.

        Stock Charts (Year)
        Ford Motor
        Ford, in response, offered all 75,000 of its factory workers buyouts or enhanced retirement packages to entice them to leave; 38,000 workers took the deal.

        This was the first quarter for new CEO Alan Mulally, who took the reins on Oct. 1, after family scion Bill Ford stepped down from the job. Mulally, who came from Boeing, has been trying to resuscitate the automaker with more job cuts and plant closings.

        Mulally is also facing the harsh reality that Ford, long the No. 2 U.S. automaker, will now come in third, behind Japanese automaker Toyota Motor (TM, news, msgs) and No. 1 General Motors (GM, news, msgs).

        By Elizabeth Strott





        wow give me one for free!!!!!!!!!!!!!! i wont tell anyone

        what happens on daylight savings do they have 60 cars leftover and who gets em!
        They were gonna be in trouble if they started losing their position in the truck market but $12.75 billion? Damn. Their reputation for quality may have caught up with them.

        Ouch! That's pretty bad. Reminds me of when I tried my hand at Finances in SimCity
        Dude, that game is sweet. I always feel like a financial genius when playing that game.
        You've got to know when to sack em...

        Comment


        • #5
          My daughter can lose one faster than that.



          I just take it from her!

          Comment


          • #6
            yeah one of my teachers what talkin about this today

            crazy stuff


            I still miss the blue background.

            Comment

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