So Ford doesn’t take any federal bailout money and earned $1.1 Billion in pre-tax profits in the third quarter. Yet GM and Chrysler take the money and we get the news that taxpayers are unlikely to recover their full investment in either company. (Like that was going to happen anyway) Here’s a great idea, let’s have the government run our healthcare too. Is anyone listening in Washington? Helloooooo!
Ford, the only Big Three automaker to not get a federal bailout, announced Monday it had made its first operating profit since the spring of 2008.
Ford announced $1.1 billion in pre-tax profits for the third quarter and income gains that far exceeded the expectations of industry analysts. It said it would be fully profitable in 2011.
“Our third-quarter results clearly show that Ford is making tremendous progress despite the prolonged slump in the global economy,” Ford President and CEO Alan Mulally said in a statement.
The company has sought to contrast its decision not to take federal bailout money with General Motors and Chrysler, both of which took billions from the government. The other two members of the Big Three have had to deal with public criticism over the bailouts, with conservatives mocking GM as “government motors.”
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