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Ford is such a well run company (also good news for UAW).

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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:18 AM
Original message
Ford is such a well run company (also good news for UAW).
The Ford Motor Company said on Wednesday it would pay off more than $4 billion in debt, a move aimed at strengthening its balance sheet and instilling confidence in its recovery.

Fords debt load has been analysts biggest concern about the automaker, which has been profitable for four consecutive quarters and projects positive cash flow this year. The announcement suggests that Ford will report strong results for the second quarter, which ends Wednesday.

Ford said it is paying $3.8 billion it owes to the United Automobile Workers retiree health care trust, $2.9 billion of which is being paid ahead of schedule and at a 2 percent discount. It is paying the entire amount in cash, declining the option to use stock for some of its obligation.

The company is also paying $255 million to satisfy quarterly dividend payments on preferred stock that had been deferred since April 2009.

...

Ford, which has forecast solid profitability for all of 2010, had $34 billion in debt at the end of the first quarter. Wednesdays payments and a $3 billion payment it made on a line of credit in April will save the company more than $470 million in annual interested expenses. Ford said it negotiated a deal with the U.A.W. trust to allow more cash prepayments in the next 3 years at a discount of up to 5 percent. The company still owes $3.6 billion to the trust, which took over health care liabilities for hourly retirees as of Jan. 1.



http://www.nytimes.com/2010/07/01/business/01ford.html?...
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Commie Pinko Dirtbag Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:20 AM
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1. Ford is also the one that advertises in GLBT mags, which prompted fundies' boycott.
Which backfired spectacularly.

Ford >>>>>>>>>>>>>>>>>>> GM
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fatbuckel Donating Member (518 posts) Send PM | Profile | Ignore Wed Jun-30-10 09:25 AM
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2. I used to buy GM....now I have a Volkswagon.
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Schema Thing Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:30 AM
Response to Reply #2
3. well that was random
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ieoeja Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:34 AM
Response to Reply #2
5. I used to buy Pepsi....now I have a Coca-Cola.
:shrug:
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closeupready Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:34 AM
Response to Original message
4. Ford is a terrific company, IMO.
And their cars are solid. :)
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jayfish Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:36 AM
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6. Ford Has Made Some Of The Worst PsOS I Have Ever Owned.
Including the last Ford I bought(and still own)a 2000 Windstar. Garbage!

FSH
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ejpoeta Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:49 AM
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7. i've mostly had positive experiences with ford vehicles. we have always owned ford, though not new,
until this chrysler minivan we bought a couple of years ago. right before all the hoopla actually. this was the first new vehicle we had ever bought. i have had thre explorers, one of which ended up being a dud.... but we only paid $150 for it. but the other two were great. my hubby took the motor out and put it in his ranger and ran that for a couple years. now this chrysler we have had issues with the brakes and now my rotors are warped. have had it for just over two years. when i turn the car off i can"t turn the key all the way off and pull it out and have to mess with the shifter to get it to release it. very unhappy. probably will not buy another one. and now i know why my dad only bought one new car ever in his life.
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Lifelong Protester Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:50 AM
Response to Original message
8. I think Ford is on the right track
we own a '94
Ranger and an '00 Focus.... both are well built and still going.
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Festivito Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 07:43 PM
Response to Original message
9. Ford didn't jump into the housing that bubbled, i.e. no derivatives.
That makes them look prescient.
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