I hope you bought your Ford stock when it was US$1.01 in November

[Ohio XB]

$5.15 at the moment....


http://finance.yahoo.com/news/Ford-p...796.html?.v=13


Steve

[buggerlugs]

http://www.news.com.au/business/stor...-31037,00.html And another good news story for Ford. Makes GM and Chyrsler look pretty sick.........

[Auslandau]

Not likely ..... everyones too busy talking things down here and will continue to do so. Great news and shows that things will turn around in the automotive industry. If the US can make gains with the mess they are in ........ that shows that there are still little rays of sunshine and the sky hasnt totally collapsed on auto manufacturing. Now for GM to work out what the hell they are doing. If they can do something postive for a change, that will be the turning point.

Eventually people will have to start buying again ......



| [/url] |

[TUF_302]

Well we might still be loosing money but, it seems we will be making it very soon! :

[whynot]

A positive article about Ford, written, in all places, by the Sydney Morning Herald.

http://business.smh.com.au/business/...0425-aieh.html


But you wont find it in the drive.com.au section. They would rather choke on their Corn Flakes.

[Ohio XB]

I'm looking forward to seeing how April sales do with the Ford Advantage Plan in place. I haven't been able to find out anything yet.

They had a new 2010 Fusion Hybrid at our plant yesterday along with a few other vehicles. There were some people coming for a tour, prospective and current fleet customers of the E-series van, Econoline. They were showing off some of the vans and cut-a-ways (cab on a frame for conversion to truck/RV/etc.) and also took advantage to show off the Fusion and Focus and an F150 and a Super Duty too.


Steve

[F6 R-Spec]

Originally Posted by Ohio XB

I'm looking forward to seeing how April sales do with the Ford Advantage Plan in place. I haven't been able to find out anything yet.

They had a new 2010 Fusion Hybrid at our plant yesterday along with a few other vehicles. There were some people coming for a tour, prospective and current fleet customers of the E-series van, Econoline. They were showing off some of the vans and cut-a-ways (cab on a frame for conversion to truck/RV/etc.) and also took advantage to show off the Fusion and Focus and an F150 and a Super Duty too.


Steve

Good STUFF, it sounds like the force is with FORD, im loving the updates Ohio XB keep the good ford news rolling my friend. :

Cheers Mick.

[4Vman]

Originally Posted by Ohio XB

$5.15 at the moment....


http://finance.yahoo.com/news/Ford-p...796.html?.v=13


Steve

Where's wally? im sure he'll have some countering article suggesting its a typo and shares are really USD$0.55 or something....

[Wretched]

Well done Ford US (never thought i'd be saying that).
They need to keep up the momentum and translate it into sales.
A big pickup in sales within the US will be a big positive. Fingers crossed.
Hopefully Focus, Fiesta and Mondeo sales pick up here in OZ like they deserve to.

[bd737]

Originally Posted by Wretched

Hopefully Focus, Fiesta and Mondeo sales pick up here in OZ like they deserve to.

Falcon sales too.

[Elks]

Originally Posted by 4Vman

Where's wally? im sure he'll have some countering article suggesting its a typo and shares are really USD$0.55 or something....

He's busy trying to offload his GM shares

[4Vman]

Originally Posted by myts

He's busy trying to offload his GM shares

come on wally, where's your "spin" on this one?

[Wally]

I'm here, I'm here already!

That's good news for those who have sold them. History repeating with shares not reflecting their truth worth, but good news all the same. The share rally actually sweetened the Dow Jones on Friday. I'm not sure how it benefits Ford directly, but 4Vman is like a boy with two dicks so there must be some derivitive?

No I wouldn't touch GM shares even in the mist of time when it declared a profit. I've been heavily investing in Chinese infrastructure pre IPO shares. The amount of money being set aside to swoop on Oz technology is mind boggling. I am very impressed that Australian companies have been doing the hard yards in preparedness for carbon trading and resource mitigation.

[4Vman]

Originally Posted by Wally

I'm here, I'm here already!

That's good news for those who have sold them. History repeating with shares not reflecting their truth worth, but good news all the same. The share rally actually sweetened the Dow Jones on Friday. I'm not sure how it benefits Ford directly, but 4Vman is like a boy with two dicks so there must be some derivitive?

No I wouldn't touch GM shares even in the mist of time when it declared a profit. I've been heavily investing in Chinese infrastructure pre IPO shares. The amount of money being set aside to swoop on Oz technology is mind boggling. I am very impressed that Australian companies have been doing the hard yards in preparedness for carbon trading and resource mitigation.

What? no staunch GM flavored rebuttal?? you're going soft in your old age wally!

[Wally]

I keep trying to tell you, but your won't listen. You really must stop thinking in absolutes and two party conflicts, you're missing out on enjoying the other 270° the vista has to offer.

[Gobes32]

Kirk Kerkorian sold 7.3 million shares at US$2.43 in October last year, meaning he has lost just under 20 million compared to if he held onto them 6 months longer. If investors like Kirk can't predict this stuff, what hope has us guys got?

[Ohio XB]

Originally Posted by Gobes32

Kirk Kerkorian sold 7.3 million shares at US$2.43 in October last year, meaning he has lost just under 20 million compared to if he held onto them 6 months longer. If investors like Kirk can't predict this stuff, what hope has us guys got?

He couldn't afford to wait as his own businesses and their shares had tumbled too much as well. He needed to reel the capital back in to shore up his losses with his MGM Grand Hotel and Casino and other businesses. Yup, would have been good if he could have waited though.


Wally, nobody is saying Ford is set and has no worries. The only point being conveyed here is that Ford has made major improvements to it's business structure, is out performing what the experts project they will do, and is showing signs that they have a real chance of weathering the economy and doing well once the economy improves. This is in contrast to continuing to decline, not making necessary changes, and showing no positive signs of improvement.

Right now Ford has the number one selling vehicle in the US and Europe. That should account for something. It's not any of the media darling companies that have this status. Not Toyota, not Honda, not VW, and not Hyundai, the latest media darling.

Ford's US market share has improved in 4 of the last 5 quarters.

Ford has received more positive press in the last 4 months than it has in the last 4 years.



There is enough doom and gloom out there but people are still slow to acknowledge the positives. In this world where we are used to negative news on the Big3 it seems sad that people are negative in receiving good news about one of them.





Steve

[4Vman]

Originally Posted by Ohio XB

Wally, nobody is saying Ford is set and has no worries. The only point being conveyed here is that Ford has made major improvements to it's business structure, is out performing what the experts project they will do, and is showing signs that they have a real chance of weathering the economy and doing well once the economy improves. This is in contrast to continuing to decline, not making necessary changes, and showing no positive signs of improvement.

Right now Ford has the number one selling vehicle in the US and Europe. That should account for something. It's not any of the media darling companies that have this status. Not Toyota, not Honda, not VW, and not Hyundai, the latest media darling.

Ford's US market share has improved in 4 of the last 5 quarters.

Ford has received more positive press in the last 4 months than it has in the last 4 years.



There is enough doom and gloom out there but people are still slow to acknowledge the positives. In this world where we are used to negative news on the Big3 it seems sad that people are negative in receiving good news about one of them.





Steve

Agree 100%, a positive attitude will help things improve quicker than a negative 1.. too many people love sticking the boots in but never acknowledge a win or positive...

[Wally]

Originally Posted by Ohio XB

Wally, nobody is saying Ford is set and has no worries.


Steve

Oh yes they are. Maybe not from you and other grown ups, but there is a definite type of member here who is enjoying the prospect of your fellow workers in GM losing their jobs and Ford scavenging the customer base.

If you look carefully at the quarter result you will note (in round figures) that Ford have $21b cash at bank, burned about $3.7b, but used a bit of jiggery pokery to declare a $1.8b loss, the difference between the burn and declared loss put down to a one off event. It is all well and good saying the forecasters were out when they expected a $3.6b loss, but how could they know that there was going to be some creative accounting? Eventually that one off will have to find it's way back into the P&L, probably as tax offsets when the going gets good.

The good news is that they halved the damage compared to the previous quarter. The bad news is that cost cutting is subject to the laws of diminishing returns and eventually sales revenue will have to pickup if there is to be a breakeven. I think the share rally is based on the $3.7b, not the $1.8b.

Originally Posted by Bloomberg

Ford’s net loss was $1.4 billion, or 60 cents a share, the largest first-quarter deficit since 1992. A year earlier, Ford earned $70 million, or 3 cents a share.

Revenue declined to $24.8 billion from $39.2 billion, excluding special items, as Ford slashed North American production by half. The average analyst estimate was for $23.2 billion. The company’s U.S. vehicle sales fell 43 percent.

.....Ford drew down a $10.1 billion credit line and cut its debt by $9.9 billion. Ford reported that it had $21.3 billion in automotive cash at the end of the quarter, up from $13.4 billion at the end of 2008.

.......Ford has been able to forgo U.S. aid because it borrowed $23 billion in 2006 before credit markets froze. As collateral for financing that Mulally dubbed “the world’s largest home- equity loan,” Ford put up all major assets, including its headquarters and blue oval logo.

Maths: 13.4 c@b + 10.1 loan + 1.8 loss = 25.30 - 21.3 c@b = $4b burned.

meanwhile GM have grabbed another $2b from the govt.

[Ohio XB]

Wally, when Ford closes up you may say how absolutely wrong I have been in everything I have said about Ford. Likewise, when Ford rebounds and does get their heads above water again and on their way I will have a plate and a knife and fork for your meal. I think we know what that meal is.


4Vman, Alan Mulally is a very upbeat, positive guy. I like the way he put a reporter in his place when he first came to Ford. The reporter asked how is a guy that has only built planes going to know how to build cars?

Mulally's response was "A car does have thousands of parts, but a plane has millions of parts..........and it has to stay up in the air. I think I can build a car."



Steve

[RPO83]

I'm still glad i sold off my stock in early 2001...I would have jumped off a building if I still had them!

[Wally]

Originally Posted by Ohio XB

Wally, when Ford closes up you may say how absolutely wrong I have been in everything I have said about Ford. .....


Steve

Which is why to date I haven't said how wrong you may be (convince me otherwise). On the contrary I think you have corrected me on the odd ocassion. My hope is that Ford rebounds into profit. Likewise I hope GM and Chrysler do too. I hope you keep your job. If I'm guilty of criticising motor management it was the ex GM boss for his ineptitude several months ago and it seems Blind Freddy took the same position more recently.

I detect an enemy of my enemy is my friend anxiety emerging in you Steve. The force can be strong, but I know you can defeat it. I haven't denegrated Ford or it's executive, although one or two of the machiavellian here, who consistently like to segue and misrepresent members' comments for their own edification would argue otherwise. _2:

I won't have to eat any humble pie, because what I've forecasted to date has come true. I haven't asked those who truck grudges against fact over sentimental fiction to recant their schoolboy remarks nor should you solicit one from me. Evaluating P&Ls and balance sheets is something I'm qualified in and I won't apologise for doing basic accounting.

[Ohio XB]

On the contrary, I have no anxiety, and there are several reasons for it. The only thing I have to the negative is some frustration from people that only seem to see the more "fun" side of being derrogatory.

I know what the negatives are. The company makes sure I know them so that I will be ready to make even more concessions in the name of company soundness. I most likely get an even more gloomy perspective than your numbers show because Ford wants to hire new people at a lower wage and would like me to go away to accomplish this. They do this by making as bleak an image as possible.

To illustrate to what length Ford will do this; in February 2002 a VP came to our plant from Dearborn to tell us after we finish building the 2002 Mercury Villager that she was very sorry, but they just didn't have another vehicle for us. Yup, a new contract was coming up. This was bad news for us. However, in July of 2002 we started to retool the plant for building the Ford Escape. The date on the blueprint of the floorplan was July 2001. Yes, Ford had already set everything in motion a year ago to make this change at our plant, yet they sent a VP down to look us in the eye and tell us they had nothing for us.


I understand and appreciate your accountant's perspective. You have training and insight I do not have. I also have other insight though from being on the inside. I don't know them personally but I have interracted with Mark Fields, Derick Kuzac, Jim Farley, and others and I do have a better grasp of them than people on the outside. I also live with the changes that have gone on at Ford that don't get any press for the public to know about and understand. I get information that is privaledged and not made public. I am part of the inner workings of the company and I am responsible for saving the company money and improving their quality. I live 5 days a week with what changes are going on, what improvements have been and are being made, weekly updates on money issues with our plant and the company, and monthly reports on the company money situation. Because of this I would have thought it may be the reason that I would have "an idea" of what's going on at Ford in the US.

Ford has always worked up accounting for various considerations. One time costs have been things like the buy-outs they have had in the past. After subtracting buy-outs from the income you cannot get an accurate picture of how sales and regular operating expenses have balanced out, so you have to figure it up another way to see the reality of this element. As an accountant I am sure you understand the purpose for such practices. Companies do this all the time. If it was "creative accounting" Ford would not have published every way it has figured up the numbers and make them available to the public. Being a publically held company they are required to do this by law.

It is not for me to convince you otherwise. I cannot prove what is real, it just is. We will both have to wait and see. My wishes for my job mean nothing to what is happening and therefore do not obscure my perspective of what's happening.

Another change at our plant happens in 2 weeks when production goes to 4 ten hour days instead of 5 eight hour days. Maintenance will stay on the same 5 day eight hour schedule so that while production is off work Friday maintenance can get work done at regular time that would normally be done on Saturday at time and a half. This will save more money in wages and electricity and is being adopted at many, if not all, Ford plants; made possible due to work rule changes made to the current contract that were approved by the UAW members.


Steve

[Wally]

I didn't say I was an accountant. I still don't fathom why you thought I was on your case. All I did was reveal the true state of affairs. It's not rocket science to figure out that $4bn spent has to be accounted for and that Ford are far from profitable.

[F6 R-Spec]

Originally Posted by Wally

I didn't say I was an accountant. I still don't fathom why you thought I was on your case. All I did was reveal the true state of affairs. It's not rocket science to figure out that $4bn spent has to be accounted for and that Ford are far from profitable.

They look better on paper and to the eye over GM / CHRYSLER
and are sitting in the drivers seat steering there own ship. :

For now

Cheers Mick

[Wally]

:voldar02: Yes they are pretty safe observations. But contrary to the various prophesies of imminent demise early 2009, both Chrysler and GM are still selling cars in large quantities. It would be very difficult to kill large companies like these.

As Australians we tend to superimpose our own corporate laws on foreign companies. US companies have safeguards allowing safe harbour protection while getting their act back together. Here we have to appoint administration if the operation is insolvent, which invariably means a liquidator will soon follow to pick clean any small change the administrator has deemed too awkward to put in his own pocket.

I understand Chrysler were given a lifeline today and GM are upbeat about using the chapter 11 to encourage creditors to swap debt for bonds. If that happens the script value of GM should rise significantly and the share markets should rally.

[phillyc]

Originally Posted by Ohio XB

Another change at our plant happens in 2 weeks when production goes to 4 ten hour days instead of 5 eight hour days. Maintenance will stay on the same 5 day eight hour schedule so that while production is off work Friday maintenance can get work done at regular time that would normally be done on Saturday at time and a half. This will save more money in wages and electricity and is being adopted at many, if not all, Ford plants; made possible due to work rule changes made to the current contract that were approved by the UAW members.
Steve

Always enjoy your posts Steve!

I do have a question in regards to the changing of the shifts. Do you think this may affect product quality with the longer days? Otherwise seems to be a smart cost saving manouevre. Shame about the o/t lost for the other guys though...

[F6 R-Spec]

Originally Posted by Wally

GM are upbeat about using the chapter 11 to encourage creditors to swap debt for bonds. If that happens the script value of GM should rise significantly and the share markets should rally.

You make this sound so simple, then why hasn't this happend already ?

If it is so when will it happen, and what is every one sweating about ?

Cheers Mick.

[Ohio XB]

Originally Posted by phillyc

Always enjoy your posts Steve!

I do have a question in regards to the changing of the shifts. Do you think this may affect product quality with the longer days? Otherwise seems to be a smart cost saving manouevre. Shame about the o/t lost for the other guys though...

Thanks Phillyc.

I don't see this affecting quality negatively. Actually it will improve quality because maintenance has not been working on weekends at our plant since last summer (our hemisphere). This has been a cost savings measure and for them to work on the weekends requires prior approval from Dearborn (Corporate Headquarters). Only emergency work is authorized.

As you would think, this means that there is some maintenance that had not been getting done, which results in breakdowns during the week. The breakdowns don't necessarily mean production would stop. It depends on what broke down and the "cushion" of vehicles in a "surge" area that are available. There are also ways to work around a breakdown.

The new schedule will enable the backlog of PM's (Preventive Maintenance forms) to be caught up. They have been getting done what they can get done between shifts.

As for the workers working 10 hours a day instead of 8 (we had also lost a few minutes of break time) I think they will do fine. Most everyone at our plant are seasoned workers and have worked on 6 ten hour shift per week when things were booming. Doing 4 tens should not be a problem.


Steve

[Ohio XB]

Originally Posted by Wally

I didn't say I was an accountant. I still don't fathom why you thought I was on your case. All I did was reveal the true state of affairs. It's not rocket science to figure out that $4bn spent has to be accounted for and that Ford are far from profitable.

$4 billion spent has to consider how much income there was as well. This figure was how much was spent to run operations. It is not how much was negative after factoring in income. True, Ford is far from profitable, but for a company the size of Ford to cut operating expenses in half from one quarter to another......is quite an envious accomplishment in industry. This is what is receiving praises, along with the actual amount lost that was half of what was expected as well.

Pardon me for presuming that you were an accountant. I gained that presumption when you said "Evaluating P&Ls and balance sheets is something I'm qualified in..."


You say you don't fathom why I thought you were on my case. No, not on my case, but taking diggs, like this line...

I detect an enemy of my enemy is my friend anxiety emerging in you Steve.

Eloquently spoken but slightly sinister all the same. Rest assured, as I mentioned, I have no anxiety as I already know my future with Ford.


I do not wish to bump heads here. I understand that you see Ford as a company losing money and at the bottom of a hole. This is accurate, but it is not the whole picture. What is being missed is that Ford has a ladder, they've prepared a solid base for the ladder for stability, and have a plan on how to orderly get out of the hole and what to do once they are on top. They have already begun to climb this ladder. This is in great contrast to those that are also at the bottom of a hole where, not only do they not have a ladder, but they don't know where the top of the hole is.

My money is on Ford to get out of the hole. The others, while a bad situation, not so much.


Steve