Monday, February 2, 2009

Ford Posts Big Loss

Ford has posted a $14.6 billion loss, however, they will still not seek aid. After the worst annual loss in its 105 year history, Ford Motor Co. still doesn't plan to seek government aid. Good for them! However, it is borrowing more money and hinting at further restructuring to brace for a tough 2009 along with any surprises from the unpredictable economy. It is anyone's guess as to how the economy is going to go this year. It sure doesn't look good right now.

Ford reported Thursday a $14.6 billion net loss for 2008, beating its old record of $12.6 billion set two years ago. They lost $5.9 billion in the fourth quarter, but more importantly, it spent $5.5 billion more than it took in. That dropped its cash reserves to $13.4 billion at the year's end. I feel you have to respect their decision instead of asking for a bailout right away.

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