Whatever. Maybe you should read the actual earnings release along with the balance sheets before you start the high and mighty finger wagging.
Ford Motor Company :: Ford Reports $8.7 Billion Net Loss For Second Quarter 2008, Including Pre-Tax Special Charges of $8 Billion; Company Also Details Accelerated Transformation Plan+
-Net loss of $8.7 billion, or $3.88 a share
-$5.3 billion for Ford North America long-lived assets (write down of unsold asset)
-$2.1 billion for Ford Motor Credit Company's operating lease portfolio (write down of unsold asset)
-Pre-tax loss of $1 billion from continuing operations
-Automotive gross cash at June 30 of $26.6 billion
The market cap of the whole company is $11.4b
Did Ford management screw up? BIG TIME! Ford management has represented nepotism at its worst. But look who is running the company now.
Alan Mulally - Wikipedia, the free encyclopedia
In the next 24 months they have commited to bring the Fiesta, Euro Focus, Mondeo, Transit and C-max to the US market. They have $26b to burn through while they retool the factories from body on frame trucks to Small European cars. I will seriously consider buying the stock anywhere under $4.50. Ford is not going away. If anything, they will be bought out for a large premium.