Ford Motor Company posted 2nd QTR profit

[180SX_Faktory]

I was watching CNN today and watched the story about Ford Motor Company posting its first profitable quarter in two years. Experts attributed it to downsizing the workforce (more automation), selling off brands (Aston Martin) and other cost savings measures. Currently, Jaguar and Land Rover, as well as Volvo may be put up on the sale block. They didn't mention Mazda, which Ford owns majority share. Towards the end, experts mentioned that if Ford doesn't secure concessions from the UAW in the next few days, the upward trend will get sapped. I am not putting down anyone who is a UAW member, but it seems to me that in order to retain some semblance of future employment, it would be wise to give concessions to the automaker, in this case Ford (did hear of Chrysler and UAW last week). As my grandma once said, "you can't get blood from a turnip."

[Bob Johnson]

The marvels of modern day accounting..if you used the same accounting practice at Ford Motor Company, Delta, GM etc that you are being used at EXXON...Exxon would be making even more obscene profits than they are showing, and the others would be losing Billions...it's all in what the accountants are trying to accomplish..

[68BNUT]

The only blood that ford wants is from the Turnips that make up our middle class workers.

[180SX_Faktory]

The marvels of modern day accounting..if you used the same accounting practice at Ford Motor Company, Delta, GM etc that you are being used at EXXON...Exxon would be making even more obscene profits than they are showing, and the others would be losing Billions...it's all in what the accountants are trying to accomplish..

Well... I guess they wouldn't do it on their own (accountants). Must be a gun or some other obscene article stuck to their heads to keep stockholders happy.

[Bob Johnson]

that's what I'm saying. You can write off or put off or write down or capitalize, or expense, spend like crazy at tax time, all kinds of tricks. It's all about making the stockholders/banks happy. Exxon has to keep their profits minimized as much as possible to keep down the public outcry over the price gouging thats going on. If the oil and gas industry isn't guilty of price fixing then I'm a liberal.. If we only knew what their real profits were we'd all be screaming.. Drill in Alaska and offshore here..build refineries...come up with new technologies to replace fossil fuels..might already be close but the Oil companies would squelch it until they've milked most of the profits off the fossil fuels..we've got to reduce our dependence on foreign oil..and ethanol from corn just isn't gonna do it..

[180SX_Faktory]

Yeah, it is a conspiracy, to say the least. It's funny how gasoline prices are not standard across the board, and that makes me think of pricing that is not regulated, and it is strange that our own government doesn't seem to say anything about it, which leads me to think that the government was bought out a long time ago by oil companies. Where I live, gasoline is 27 cents a liter. The government here won't let the gas companies raise prices because people depend on their cars to go to work and get around.