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IPFS News Link • Transportation

Ford posts first full-year net profit since 2005

• Reuters
The company, whose fourth-quarter profit soundly beat Wall Street forecasts, attributed the full-year profit in part to cost-cutting, gains from debt reduction efforts, good results from its financing arm, and stronger pricing.

The automaker repeated its forecast that 2011 would be "solidly profitable," but Chief Financial Officer Lewis Booth cautioned that Ford still had to take steps to address its "uncompetitive balance sheet" and was watching for more signs that a fragile U.S. economic recovery would continue.

2 Comments in Response to

Comment by Lola Flores (20562)
Entered on:

 And let's not forget the bailout.  Somehow, I think that had something to do with this "success"

Comment by Powell Gammill (13871)
Entered on:

See, Obama's right those bailouts work . . . oh, wait . . . . gosh how did Ford accomplish this without appointing Obama's picks to their board?  Just lucky I guess.