The World Opinion

A confident ford besides falling sales and their falling share prices looks confident on sailing through this mayhem all alone. On latest reports, Ford lost a massive $5.9 billion in the fourth quarter and about $5.5 billion in cash as sales slumped but still is confident on passing through without the Federal contribution of loans.

Ford reported that it has gone through major losses of $14.6 billion in 2008 with 2009 looking tough to. In its struggle through this, Ford plans to cut 1200 jobs and to borrow $10.1 billion from its existing line of credit.
Ford’s CEO Alan Mullaly has reported a loss of $2.46 per share in the quarter ending December ’08 and also informed about the loss of $1.13 per share in the year before that. Revenue has also been reported to have fallen by 36% from $45.5 billion in 2007.

GM and Chrysler reported to have been granted $13.4 billion and $4 billion loans by the US Treasury Department respectively. Ford also been granted $9 billion by the department, but Ford believes that it can sail through 2009 safely without using it unless unexpected happens. This is so for Ford had a cash reserve of $13.4 billion as of Dec 31 ’08 and also expects to receive the $10.1 billion soon.