Ford Says It Made $2.7 Billion in 2009
- Thread starter Stijloor
- Start date
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DrM2u
Yeah! I am sorry but I don't buy into the accounting games.
To me it just does not make sense for a company to swing $17B on the positive side in a year when the economy is how it is (and I shall not elaborate on that). If they managed to reduce wages by $10/hr for 2000 hrs/yr for 100,000 employees they end up with a change of $2B. Where did the other $15B in 'profit' come from? Maybe someone can enlighten me on the math.
On the other hand, being fairly intimate with the automotive industry, I am aware of this type of 'subtle' changes and am not surprised by the reporting. It drives the share price up, increases the company's value and borrowing power, creates hope, increases consumer confidence, etc. We'll have to wait and see if in a few years the reporting will be 'adjusted'.
Just my opinion ...
To me it just does not make sense for a company to swing $17B on the positive side in a year when the economy is how it is (and I shall not elaborate on that). If they managed to reduce wages by $10/hr for 2000 hrs/yr for 100,000 employees they end up with a change of $2B. Where did the other $15B in 'profit' come from? Maybe someone can enlighten me on the math.
On the other hand, being fairly intimate with the automotive industry, I am aware of this type of 'subtle' changes and am not surprised by the reporting. It drives the share price up, increases the company's value and borrowing power, creates hope, increases consumer confidence, etc. We'll have to wait and see if in a few years the reporting will be 'adjusted'.
Just my opinion ...
At least they did not feed themselves at the Government's trough..
And that deserves some recognition too, don't you think so?
Stijloor.
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jasonb067
A wise man once said, "Please stick with the facts and quit wild guessing based on hearsay and innuendo".
I must admit that I am loyal to Ford.
By the way, no bail out money.
I must admit that I am loyal to Ford.
By the way, no bail out money.
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DrM2u
As Frank Lloyd Wright said, "the truth is more important than the facts". According to Webster's:
Main Entry: fact
Pronunciation: \ˈfakt\
Function: noun
Etymology: Latin factum, from neuter of factus, past participle of facere
Date: 15th century
1 : a thing done: as a obsolete : feat b : crime <accessory after the fact> c archaic : action
2 archaic : performance, doing
3 : the quality of being actual : actuality <a question of fact hinges on evidence>
4 a : something that has actual existence <space exploration is now a fact> b : an actual occurrence <prove the fact of damage>
5 : a piece of information presented as having objective reality
— in fact : in truth
My objective reality is that I do not trust the financial reports as they can be and have been manipulated to achieve a goal for the executive boards, as history shows. To me fact is 1+1=2 and the numbers from the report just don't add up for me. So, I remain skeptical until someone can prove me wrong.
F
Furby
i remember them saying they also swung past toyota in one of the quarters...
i must say, though, i do see a TON of mustangs on the road.
i must say, though, i do see a TON of mustangs on the road.
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Furby
Oh, there's an article on autoblog (don't have post count for links) ... I think they go more in depth there. I remember reading it last week but can't recall the actual numbers.
Hopefully it turns the American automotive market around. I'd love to see jobs getting picked up.
Hopefully it turns the American automotive market around. I'd love to see jobs getting picked up.
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DrM2u
Everyone would love to see jobs coming back. I believe that we need to bring manufacturing back to this country for us to prosper again. I won't elaborate as this could become antoher political topic and this is not the place for it.
