Ford posts record loss - $12.7 billion for 2006

[MrBond]

From CNNMoney:

http://money.cnn.com/2007/01/25/news/co...ford_2006_loss/?postversion=2007012507

Not as many truck sales (obviously) and the lack of attractive smaller cars in the lineup when gas prices went up hurt the company. The massive employee buyout didn't help either.

I have a friend working as an engineer for a Ford supplier. She already knows her plant is closing, hopefully this doesn't speed up the timetable.

---------------------------------------------------
Visit P&N please

 

[Pocatello]

Originally posted by: MrBond
From CNNMoney:

http://money.cnn.com/2007/01/25/news/co...ford_2006_loss/?postversion=2007012507

Not as many truck sales (obviously) and the lack of attractive smaller cars in the lineup when gas prices went up hurt the company. The massive employee buyout didn't help either.

I have a friend working as an engineer for a Ford supplier. She already knows her plant is closing, hopefully this doesn't speed up the timetable.

I hear that Toyota is planning to open more plants, maybe she and other working for Ford can find job where there is a future.

 

[iamwiz82]

They wrote off everything that they could this year just because they knew it would be a bad year, so why not get rid of all kinds of bad debt, buy out salaries, etc.

 

[Aimster]

so how r they still in business?

 

[leftyman]

Ford will be a memory in a few more years.

 

[halik]

Heh,
keep building those trucks...

 

[moshquerade]

Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

 

[TraumaRN]

Originally posted by: moshquerade
Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

How has their quality went downhill...ironically some of the imports quality is/are starting to slip.

And yea....this suck for Ford but if you read the article, 10 billion of that loss was special charges which includes all those buyouts and whatnots.

 

[iamwiz82]

Originally posted by: DeathBUA

Originally posted by: moshquerade
Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

How has their quality went downhill...ironically some of the imports quality is/are starting to slip.

And yea....this suck for Ford but if you read the article, 10 billion of that loss was special charges which includes all those buyouts and whatnots.

Correct, why spread out 10 billion over a few years to make all those years look worse when you can do it all at once?

 

[TraumaRN]

Originally posted by: iamwiz82

Originally posted by: DeathBUA

Originally posted by: moshquerade
Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

How has their quality went downhill...ironically some of the imports quality is/are starting to slip.

And yea....this suck for Ford but if you read the article, 10 billion of that loss was special charges which includes all those buyouts and whatnots.

Correct, why spread out 10 billion over a few years to make all those years look worse when you can do it all at once?

Exactly.

And another point....just cuz the company is losing money != loss of quality

 

[j00fek]

as i have said before ford will be out of business in 7-10yrs

 

[chambersc]

Originally posted by: Aimster
so how r they still in business?

They have enough credit and capital to keep throwing money on the fire. They'll be out of business or have their market share taken over by Toyota soon enough.

 

[moshquerade]

Originally posted by: DeathBUA

Originally posted by: iamwiz82

Originally posted by: DeathBUA

Originally posted by: moshquerade
Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

How has their quality went downhill...ironically some of the imports quality is/are starting to slip.

And yea....this suck for Ford but if you read the article, 10 billion of that loss was special charges which includes all those buyouts and whatnots.

Correct, why spread out 10 billion over a few years to make all those years look worse when you can do it all at once?

Exactly.

And another point....just cuz the company is losing money != loss of quality

in effort to *save money* they have used cheaper parts which will in effect undermine the quality.

don't get me wrong - i'm a Ford girl. i have owned nothing but Fords, but the issue i have had with my last Ford vehicle while my friends with their Hondas are happily driving everywhere and anywhere with no issues has really disillusioned me.

 

[Strk]

Weak sales of its key pickup trucks in the quarter and $9.9 billion in after-tax charges due to employee buyouts and plant closing plans resulted in $12.7 billion loss for 2006.

That doesn't really sound so bad. It doesn't make it sound great, but much more manageable.

Oh, and for those doing the usual BS of "well, they're closing plants, while Toyota is opening more!" Let's put it into a little perspective. GM and Ford can each shut down over 30 plants and they'd still each have double what Toyota has.

 

[TraumaRN]

Originally posted by: moshquerade

Originally posted by: DeathBUA

Originally posted by: iamwiz82

Originally posted by: DeathBUA

Originally posted by: moshquerade
Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

How has their quality went downhill...ironically some of the imports quality is/are starting to slip.

And yea....this suck for Ford but if you read the article, 10 billion of that loss was special charges which includes all those buyouts and whatnots.

Correct, why spread out 10 billion over a few years to make all those years look worse when you can do it all at once?

Exactly.

And another point....just cuz the company is losing money != loss of quality

in effort to *save money* they have used cheaper parts which will in effect undermine the quality.

don't get me wrong - i'm a Ford girl. i have owned nothing but Fords, but the issue i have had with my last Ford vehicle while my friends with their Hondas are happily driving everywhere and anywhere with no issues has really disillusioned me.

I'm not trying to be an ass but pretty much every company in any market tries to use the cheapest parts they can from suppliers.

And you having problems with one car means that someone driving a Honda has problems, someone driving a GM or Toyota or whatever will have problems with a car etc...I just think it's gotten to a point with the Media and whatnot to beat down the domestics. Sure they've been slow to adapt and not all their products are that great but it just annoys and saddens me that the media has to beat on the dead horse and continually put the domestics in bad light. It strikes me as border-line anti-American.....i mean where do the pride go in American products? It sucks 🙁

Whats worse is that my father has worked for Ford for 36 years..and I know how much of a blow this is to him...he's always been proud of his work and what his plant does. I'm sure this isnt how he wanted to retire...taking a buyout while watching Ford implode.

 

[child of wonder]

My dad has been a Ford guy his entire life. Every family gathering he is forced to endure taunts and jokes from my mom's family who are all Chevy guys.

If Ford went out of business my dad would probably have to be committed.

 

[BD2003]

Originally posted by: DeathBUA

Originally posted by: moshquerade

Originally posted by: DeathBUA

Originally posted by: iamwiz82

Originally posted by: DeathBUA

Originally posted by: moshquerade
Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

How has their quality went downhill...ironically some of the imports quality is/are starting to slip.

And yea....this suck for Ford but if you read the article, 10 billion of that loss was special charges which includes all those buyouts and whatnots.

Correct, why spread out 10 billion over a few years to make all those years look worse when you can do it all at once?

Exactly.

And another point....just cuz the company is losing money != loss of quality

in effort to *save money* they have used cheaper parts which will in effect undermine the quality.

don't get me wrong - i'm a Ford girl. i have owned nothing but Fords, but the issue i have had with my last Ford vehicle while my friends with their Hondas are happily driving everywhere and anywhere with no issues has really disillusioned me.

I'm not trying to be an ass but pretty much every company in any market tries to use the cheapest parts they can from suppliers.

And you having problems with one car means that someone driving a Honda has problems, someone driving a GM or Toyota or whatever will have problems with a car etc...I just think it's gotten to a point with the Media and whatnot to beat down the domestics. Sure they've been slow to adapt and not all their products are that great but it just annoys and saddens me that the media has to beat on the dead horse and continually put the domestics in bad light. It strikes me as border-line anti-American.....i mean where do the pride go in American products? It sucks 🙁

Whats worse is that my father has worked for Ford for 36 years..and I know how much of a blow this is to him...he's always been proud of his work and what his plant does. I'm sure this isnt how he wanted to retire...taking a buyout while watching Ford implode.

The pride left when they started building them in mexico.

And its not the media - anyone who owned or knows someone who owns a domestics thats a few years old knows how crappy they are.

 

[SuperNaruto]

I had a 91 ford taurus sho... everything on that car just keep falling apart..

they need to stop producing ugly cars also

 

[iamwiz82]

Originally posted by: BD2003

Originally posted by: DeathBUA

Originally posted by: moshquerade

Originally posted by: DeathBUA

Originally posted by: iamwiz82

Originally posted by: DeathBUA

Originally posted by: moshquerade
Quite sad, but I won't dance on their grave. They need to cut legacy costs, wages, and benefits so that they can build a decent dependable vehicle at a reasonable cost.

I used to be vehement about buying American made vehicles, but the quality of these vehicles have continued to go downhill. I never thought I would say this but at this point my next vehicle is going to be an import. 🙁

How has their quality went downhill...ironically some of the imports quality is/are starting to slip.

And yea....this suck for Ford but if you read the article, 10 billion of that loss was special charges which includes all those buyouts and whatnots.

Correct, why spread out 10 billion over a few years to make all those years look worse when you can do it all at once?

Exactly.

And another point....just cuz the company is losing money != loss of quality

in effort to *save money* they have used cheaper parts which will in effect undermine the quality.

don't get me wrong - i'm a Ford girl. i have owned nothing but Fords, but the issue i have had with my last Ford vehicle while my friends with their Hondas are happily driving everywhere and anywhere with no issues has really disillusioned me.

I'm not trying to be an ass but pretty much every company in any market tries to use the cheapest parts they can from suppliers.

And you having problems with one car means that someone driving a Honda has problems, someone driving a GM or Toyota or whatever will have problems with a car etc...I just think it's gotten to a point with the Media and whatnot to beat down the domestics. Sure they've been slow to adapt and not all their products are that great but it just annoys and saddens me that the media has to beat on the dead horse and continually put the domestics in bad light. It strikes me as border-line anti-American.....i mean where do the pride go in American products? It sucks 🙁

Whats worse is that my father has worked for Ford for 36 years..and I know how much of a blow this is to him...he's always been proud of his work and what his plant does. I'm sure this isnt how he wanted to retire...taking a buyout while watching Ford implode.

The pride left when they started building them in mexico.

And its not the media - anyone who owned or knows someone who owns a domestics thats a few years old knows how crappy they are.

At last count we've had 9 and the only trouble any have given me has been things I have done on my own to break them. Combined they have been less trouble than our two MINIs.

EDIT: After thinking about it, the last maintenance, other than oil changes, I did was two years ago, when I replaced brakes and rotors on one.