Home > News > Congratulations Ford on your Q3 profit! Way to show the US what real leadership and capitalism works!

Congratulations Ford on your Q3 profit! Way to show the US what real leadership and capitalism works!

Ford Outstanding.  Ford didn’t dip into the poison pot and take Obama’s bailout money.  They did it on their own.  Now there is talk of a second bailout for GM and Chrysler may be taken apart completely as they slide into oblivion.  Instead of following the sheep, Ford did what a good capitalist should do, adjust and fix the problems.

And they are reaping the rewards of that.  They are making a profit and expect more.

Wall Street is watching this.  They see what Obama’s golden touch has done to companies and they also see how those who turn away from him do.

The unions tried to put Ford on uneven footing by giving GM and Chrysler special deals.  How did that work for you, guys?  Remember who you voted for and who you supported when you head over to Ford to ask for a job after GM and Chrysler collapse.

Analysts expected Ford to take a 20-cent per share loss in the third quarter.  Instead, the automaker beat that by 46 cents, posting its first quarterly profit in over a year, and making believers on Wall Street:

Ford Motor Co., the only major U.S. automaker to avoid bankruptcy, posted a $997 million net income in the third quarter and its first operating profit since early 2008. It expects to be “solidly profitable” in 2011.

On an adjusted basis, Ford reported a quarterly pretax profit of $1.1 billion, or 26 cents a share, compared with a year-earlier loss of $3 billion or $1.32. Ford beat the 20-cents per share adjusted loss it was forecast to report by an average of 11 analysts surveyed by Bloomberg. …

“Ford is a company that’s well into a turnaround,” said Bernie McGinn, president of McGinn Investment Management of Alexandria, Virginia, which owns about 320,000 Ford shares. “They did it by themselves and didn’t take government money. That gives people a good gut feeling and they’re being rewarded for that.”

While GM and Chrysler struggle, Ford has built a new reputation for independence and competence.

Hot Air » Blog Archive » Ford posts a profit in Q3

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