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Ford CEO rules out bankruptcy filing - WSJ (Reuters)

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Eugene Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-29-06 05:52 AM
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Ford CEO rules out bankruptcy filing - WSJ (Reuters)
Ford CEO rules out bankruptcy filing - WSJ
Thu Jun 29, 2006 5:39am ET

FRANKFURT, June 29 (Reuters) - Ford Motor Co (F.N: Quote, Profile, Research) faces
stronger headwinds than it anticipated when launching a turnaround plan but has
ruled out seeking court protection from creditors, its chief executive was quoted
as saying in the Wall Street Journal on Thursday.

In an interview with the newspaper Bill Ford dismissed any talk of bankruptcy being
a threat, saying "it's not an option".

Standard & Poor's cut its rating on Ford debt deeper into junk territory on Wednesday,
lowering it one notch to single-B-plus from double-B-minus and saying "2006 would be
a more difficult year for Ford than previously anticipated".
<snip>
He said sales of sport utility vehicles had declined faster than planned for amid
higher fuel prices and that prices of metals, plastics and other materials had also
risen faster.
<snip>

Full article: http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-06-29T093921Z_01_L29529015_RTRIDST_0_AUTOS-FORD-PAPER.XML
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no_hypocrisy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-29-06 06:24 AM
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1. Will the federal government bail out Ford like it did GM in the 80s?
I heard Ford's stock was down to something like $3.00.

Without more information, the CEO's comment about bankruptcy "not an option" can be taken one of two ways: the truth, or lulling shareholders into false complacency so they won't unload their holdings and to encourage more investors until Ford can get its act together.
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-29-06 08:42 AM
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2. I put gas in the econobox on Sunday, big Explorer at the next
pump. My bill was $16.60. He was ticking over at $60.00 as I drove off. I had to smile.

Ford should have put more effort into promoting the Focus. It's one of the best small cars out there. I don't think I've ever seen a TV ad for it.

All the car ads are trying to sucker the macho creeps, with ugly distorted guitar background music and showing big ugly cars with tilted camera angles and sped up film going through mud puddles.

If Ford goes under, it will be because of this idiocy.
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