> Obama Regime Report < Obama Regime Report: Ford posts $2.1 billion 1Q profit, "GMdc" lags .....and the lesson is?

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Tuesday, April 27, 2010

Ford posts $2.1 billion 1Q profit, "GMdc" lags .....and the lesson is?

The only American car company who didn't need a bailout continues strong, which says much for the free market economy and that it indeed works, that's just as long as corruption doesn't become institutionalized.

Of course that includes  government corruption which can barely be kept at bay which is now so brutally corrupt,  it can't even get out of it's own way.

That 2.1b profit by the way represents half of what GM needed in their taxpayer funded BK bailout, which they just now repaid, which is a good thing seeing it rise from ashes it created by unsustainable union bennies and so on.

However, it's not this good, as Ford's NEVER EVER needed a bailout from anyone, anywhere, anytime.

It is also how jobs are created in a free market, not from the government picking winners and losers, which is what the Obama cabal has been doing since day one with their "spread the wealth" shell game, moving your wealth and mine from underneath one shell to another and yet another.
Yahoo! News: "DEARBORN, Mich. – Ford Motor Co. said Tuesday it earned $2.1 billion in the first quarter, another sign the economy is improving as people spend more on big-ticket items like cars. The automaker expects to be solidly profitable this year, a year earlier than its previous guidance.

Ford said its net income per share was 50 cents for the quarter. That's an about-face from the same period last year when it lost $1.4 billion, or 60 cents per share, at the height of the recession. It was Ford's fourth straight positive quarter and its highest quarterly profit in six years.

Ford, the only Detroit-area automaker to shun government aid and stay out of bankruptcy protection last year, gained market share from crosstown rivals General Motors Co. and Chrysler Group LLC. It also benefited from Toyota Motor Corp.'s safety recalls of millions of vehicles. Ford was one of the top brands considered by Toyota owners who were shopping for a new car, Kelley Blue Book said.

In a sign of its confidence in the economic recovery, Ford said it's boosting North American production in the second quarter to 625,000 vehicles, a 9 percent increase over first-quarter levels. The increase could mean additional hiring by Ford, but Chief Financial Officer Lewis Booth said Tuesday it's too early to say if the company will be adding workers.

'If we continue to grow, maybe we'll talk about that sometime later,' Booth said."


The urge to save humanity is always a false front for the urge to rule it. H. L. Mencken

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