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Ford looks to be in the black by 2011
Ford looks to be in the black by 2011
Posted Friday, Oct 2, 2009, 3:03 pm in Employee News
Ford Motor Co. said Wednesday that restoring the company’s credit rating to investment grade is now a top priority, particularly for the automaker’s lending arm, Ford Credit, The Detroit News reported.
Speaking to Wall Street analysts in Dearborn, Mich., Ford CEO Alan Mulally also affirmed his commitment to put Ford back in the black by 2011, but cautioned against expecting too much from the recovery in the United States, the paper said.
“We are assuming a very gradual recovery,” Mulally said, noting that the nation’s jobless rate is still rising. He said the government’s “cash for clunkers” program did have a big impact on automobile sales, but did little to spur sustained demand for new vehicles. At the same time, he said Ford will ensure it has the production capacity to accommodate greater demand for its cars and trucks if the sales rebound is stronger than expected, the story said. (The Detroit News)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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