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Message
Ford cuts debt by $9.9 billion; shares rally
Posted on 4/6/09 at 2:30 pm
Posted on 4/6/09 at 2:30 pm
LINK ][LINK]
quote:
Ford and its Ford Credit financing arm will use $2.4 billion in cash plus 468 million shares of common stock to reduce outstanding debt, which stood at $25.8 billion at the end of the year.
The moves will also cut Ford's annual interest expense by $500 million.
1
Posted on 4/6/09 at 2:36 pm to kfizzle85
awesome. Nice move by Ford. A quick scan of their balance sheet shows that they have still 100b+ in debt out there though.
Posted on 4/6/09 at 3:46 pm to MileHigh
Felt like gambling friday.
Bought 500 shares at $2.94
Bought 500 shares at $2.94
Posted on 4/6/09 at 3:50 pm to philabuck
quote:
Felt like gambling friday.
Bought 500 shares at $2.94
Nice move. I bought it about 30 days ago a little lower. I also bet Citi at $1.08, BoA at $3.50, and GE at $6.50. All four companies have a shot to survive and prospect. Good bet.
Posted on 4/6/09 at 4:05 pm to Cane Cutter
I don't understand the car business. They are not profitable and have no indication that they can be.
To increase profitability, they need to increase volume, or increase profit per unit. If they could do that, wouldn't they have already done so???
How can anyone believe that this US industry has a PRAYER of success?
To increase profitability, they need to increase volume, or increase profit per unit. If they could do that, wouldn't they have already done so???
How can anyone believe that this US industry has a PRAYER of success?
Posted on 4/6/09 at 4:28 pm to coloradoBengal
If their hands are tied by the UAW, they are stuck. If they get away from the contracts, they can be profitable.
Posted on 4/6/09 at 4:39 pm to KosmoCramer
quote:
If their hands are tied by the UAW, they are stuck. If they get away from the contracts, they can be profitable.
Even if they were able to renegotiate these, I just don't understand how you can build an industry around strapped consumers buying 15-20 million $20k - $30k vehicles, every single year.
It just doesn't seem sustainable on any level to me.
Posted on 4/6/09 at 5:40 pm to coloradoBengal
quote:
15-20 million $20k - $30k vehicles, every single year
Maybe my thinking is wrong but if a car last roughly 10 years, and there are roughly 150 million drivers, wouldn't you need to bring in 15 million new cars each year?
These numbers were pulled out of thin air, so if someone has facts to back this up or prove foolish, please present them.
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