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Brisk sales and higher prices helped Ford Motor Co. to one of its best first-quarter profits in years. Ford said Tuesday it earned $2.6 billion, or 61 cents a share, in the first quarter of the year, compared with a profit of $2.1 billion, or 50 cents a share, during the same quarter a year earlier.
It was the automaker's best first quarter since 1998.
Revenue rose to $33.1 billion from $28.1 billion. In morning trading, Ford shares were up 48 cents, or 3%, to $16.02.
"Our team delivered a great quarter, with solid growth and improvements in all regions," said Alan Mulally, Ford's chief executive.
what ?? they made money with those damn unions there? how the hell did that happen?:mrgreen:
Let's hope it stays that way, many analysts are expecting a correction.I am so glad I got in the stock market when I did!
Well, because the union agreed to sweeping cost cuts back in 2009. Now that the company is making money again, the union wants back in. Good quarter. Fun while it lasted I guess:what ?? they made money with those damn unions there? how the hell did that happen?:mrgreen:
UAW Says Ford Workers Ratified Concessions - WSJ.comNow that Ford is back in the black, the United Auto Workers union wants to recover the perks it gave up over the past few years as the auto giant teetered on the brink of bankruptcy.
Rhetoric is flaring ahead of negotiations this summer for the UAW's next four-year contract. More than 1,000 delegates from the union are meeting in Detroit this week to strategize for those negotiations.
The talks will encompass labor agreements with the Big Three automakers, but Ford's impressive profits may make the company a target for union representatives looking for a bigger share of the wealth. Union members also have more leverage with Ford, since Ford workers did not agree to the no-strike clause approved by employees at General Motors and Chrysler.
Bill Johnson, who represents workers at a Ford plant in Wayne, Mich., told the Detroit Free Press that if Ford does not restore "everything" to the union, "the membership is going to knock it down."
what ?? they made money with those damn unions there? how the hell did that happen?:mrgreen:
what ?? they made money with those damn unions there? how the hell did that happen?:mrgreen:
Which means they are ripping off all their customers.
It's rare that a business that tries to rip off all of its customers all the time would be able to post these kinds of profits :roll: Except only under extreme circumstances people don't buy **** if they don't think they're getting a fair deal.
Wow, you mean unions are willing to sacrifice for the good of the company but expect that the company will return the favor once things are rolling again?
THIS IS AN OUTRAGE
Where did that preposterous profit come from? Over charging a family of five struggling to make ends meet who should have paid at least a couple thousand less.
They should build a big ship with the money. Load it with all the stockholders and hit a massive ice berg. And sing Nearer My God To Thee.
I'll be the last person to paint unions as heroes and I hardly think they were being selfless here.
Where did that preposterous profit come from? Over charging a family of five struggling to make ends meet who should have paid at least a couple thousand less.
They should build a big ship with the money. Load it with all the stockholders and hit a massive ice berg. And sing Nearer My God To Thee.
you seem to not get how economics works. If a consumer thinks they're getting a ****ty deal (of if they just plain can't afford it) they won't buy. Thus, the supplier won't sell and will post no profit :roll: There's very few instances in economics where money is made by ripping people off, and the auto industry is definitely not one of them.
By all means get whatever you can during a massive national emergency. What did the government ever do for you? Oh that's right lending you tens of billions of dollars to save your sorry asses. That's the government, the family with 3 kids. Them the people.
What the **** are you even talking about. Consumer demand GOES DOWN during recessions. People don't even have the money to afford getting ripped off. And for the record, Ford didn't even get bailed out by the government.
Like the rich don't continually rob people blind! Nobody makes 100 million dollars without the infrastructure and the wealth created by our grandfathers. Thieves. Selfish thieves who don't want to share their toys.
And why don't they ever do stuff to help the poor? Why do our schools totally suck? Why do college students have to starve while they study? Why do the elderly have to suffer spending cuts ? "Ma'am, we'll be needing your wheel chair back. You wouldn't mind just dying, would you? My wife wants this really expensive endangered animal fur coat and you're not helping any."
Why are there groups like Fred Phelps causing so much anguish? Can't a rich person just make the problem go away? No they can't because they don't give a damn about the poor or anybody. They are just their slaves.
Where did that preposterous profit come from? Over charging a family of five struggling to make ends meet who should have paid at least a couple thousand less.
They should build a big ship with the money. Load it with all the stockholders and hit a massive ice berg. And sing Nearer My God To Thee.
Where did that preposterous profit come from? Over charging a family of five struggling to make ends meet who should have paid at least a couple thousand less.
They should build a big ship with the money. Load it with all the stockholders and hit a massive ice berg. And sing Nearer My God To Thee.
Which means they are ripping off all their customers.
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