The Ford Motor Company on Monday posted a surprise third-quarter profit of $997 million and said it had had its first profitable quarter in North America in more than four years. The carmaker also said that, at least temporarily, it had stopped rapidly burning through its much-needed cash reserves. It reported positive cash flow of $2.8 billion during the quarter, ending September with $23.8 billion. Through the first nine months of 2009, Ford, the only Detroit automaker to avoid bankruptcy this year, has had a profit of more than $1.8 billion. Still, it has lost about $1.3 billion when one-time items, like a major debt restructuring, are excluded.
The carmaker also said that, at least temporarily, it had stopped rapidly burning through its much-needed cash reserves. It reported positive cash flow of $2.8 billion during the quarter, ending September with $23.8 billion.
Through the first nine months of 2009, Ford, the only Detroit automaker to avoid bankruptcy this year, has had a profit of more than $1.8 billion. Still, it has lost about $1.3 billion when one-time items, like a major debt restructuring, are excluded.
So this is not unexpected :P En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
