24,000 a minute??

[TRON]

NEW YORK (CNNMoney.com) -- Ford Motor Co. reported the largest annual loss in company history Thursday. The embattled automaker also posted a fourth-quarter loss that was worse than analysts' expectations and warned of worse showings ahead.
Weak sales of its key pickup trucks in the quarter and $9.9 billion in after-tax charges due to employee buyouts and plant closing plans resulted in $12.7 billion loss for 2006.

That works out to a loss of just over $24,000 a minute throughout the course of the year, or about the price of a Ford Mustang.

continued...http://money.cnn.com/2007/01/25/news/companies/ford_2006_loss/index.htm?cnn=yes

Thats alot of money.

 

[OSUsushichic]

That's a lot of shitty cars.

 

[NFBuck]

Ouch.

 

[scooter1369]

And the CEO will leave with a gajillion dollar golden parachute.

 

[sandgk]

And the CEO will leave with a gajillion dollar golden parachute.

And Michael Moore will make 24 million dollars on a documentary about the damage done by the latest CEO at Ford.

 

[BUCKYLE]

And Michael Moore will make 24 million dollars on a documentary about the damage done by the latest CEO at Ford.

And Burger King will make 24 million off Moore. It's the circle of life.

 

[BuckBackHome]

Don't blame the CEO or Michael Moore or the workers at Ford. Blame the Ford family for failing to live up to even a fraction of the ingenuity and genius Henry Ford brought to the automobile. His descendents have done nothing to move this company along. The fault lies with them and their absolute control on this company.

 

[BIATCHabutuka]

i would blame the unions and pension plans before anything.

 

[PrincetonBuckeye]

i would blame the unions and pension plans before anything.

you stole my post

 

[BuckBackHome]

i would blame the unions and pension plans before anything.

Who do you think approved those contracts?

 

[JoJaBuckeye]

There was an interesting article in the New Yorker about what GM is going through. The guy's thesis had to do with the replacement workforce, and he extrapolated the concept to replacement population/social security.

Simply put, when your ratio of workers to retirees becomes untenable (or, taxpayers to SS recipients), you're in deep doodoo. The many can support the few, but the few cannot support the many. And that is what's happening.

40 cents of every GM dollar of revenue goes to retiree health benefits. That doesn't leave much for QC, R&D, or current workers. I suspect Ford is headed down that same path.

 

[iambrutus]

i blame the terroists

 

[StooGrimson]

Don't blame the CEO or Michael Moore or the workers at Ford. Blame the Ford family for failing to live up to even a fraction of the ingenuity and genius Henry Ford brought to the automobile. His descendents have done nothing to move this company along. The fault lies with them and their absolute control on this company.

I think you're exaggerrating. They've done an awesome job with the Detroit Lions.

 

[LoKyBuckeye]

i blame the terroists

I blame my mother in law

 

[scooter1369]

$24,000 a minute.

think about that.

once a minute for a whole year, push a Ford Escape over a cliff.