Rochester, NY 7/30/2009 12:13:29 PM
After Hours - Ford Motor Company F, Ford Quietly Turns a Profit, Despite Automotive Chaos
Ford Motor Company
There has been a flurry of activity these, for almost a year now within the automotive sector in the United States. While sales have been declining for much longer, the real activity began near the end of 2008 as all of the Detroit-Three were called before Congress to address concerns about the sector as a whole.
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As a result, both General Motors Corporation and Chrysler Group LLC were granted bailout monies but were eventually forced to proceed through bankruptcy court. However, throughout this time, Ford Motor Company insisted it did not require financial help. With the posting of the second quarter financials this year, Ford has shown that this was indeed true as the company managed to quietly show a profit for the first time in more than a year.
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