JEFF Posted January 26, 2017 Share Posted January 26, 2017 More winning which should piss of the resident libs and transgender folk. Ford Puts $200 Million Price Tag on Mexico Closure Trump Cheered by Keith Naughton January 26, 2017, 7:00 AM EST January 26, 2017, 10:14 AM EST Quarterly earnings per share matches analysts’ estimates Carmaker took $200 million charge on canceled Mexico plant Ford CEO: Trump Is Good for Business, Economy Ford Motor Co. took a $200 million charge to abandon a factory in Mexico, putting a price tag on its new-found friendship with President Donald Trump. The cancellation contributed to a quarterly net loss for the company, its first since 2009. Excluding charges related to the Mexico plant and a pension plan loss, Ford reported profit of 30 cents a share, matching analysts’ estimates. Exclusive insights on technology around the world. Get Fully Charged, from Bloomberg Technology. Sign Up Ford’s financial well-being will be linked the next four years to the whims of a White House taking special interest in where cars are built and how fuel efficient they’ll have to be. Chief Executive Officer Mark Fields met twice this week with Trump, who’s praised the company for abandoning the $1.6 billion small-car factory in Mexico and adding 700 U.S. jobs instead. Rather than open a new U.S. plant, as the president has urged, the company plans to reduce production in the near term as demand growth slows industrywide. “The president is going to be very good for business and the economy,” Fields said in an interview with Bloomberg Television on Thursday. Still, the U.S. market has “plateaued,” he said. “We don’t have any plans to build any new plants, but clearly we want to continue to grow our business.” Ford reiterated guidance that earnings will drop this year as it begins to invest about $4.5 billion toward electrification and spends on self-driving vehicles. The shares dropped 2.6 percent $12.46 as of 10:12 a.m. in New York trading. The company reported a net loss of about $800 million last quarter, compared with income of $1.9 billion a year earlier. Excluding the pension-related charge, profit fell 18 percent to $2.13 billion. https://www.bloomberg.com/news/articles/2017-01-26/ford-profit-falls-ahead-of-automaker-s-pivot-to-appease-trump Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted January 26, 2017 Share Posted January 26, 2017 Quote Link to comment Share on other sites More sharing options...
Rw06GT Posted January 26, 2017 Share Posted January 26, 2017 29 minutes ago, Snoslinger said: What is it like to be a braindead moron? Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted January 26, 2017 Share Posted January 26, 2017 Just now, Rw06GT said: What is it like to be a braindead moron? wrong. that would be simpletons like you that believe trump had anything at all to do with this common sense business decision by ford. demands for a vehicle lessens, so they decide to kill a new plant that would have made more of them. instead they decide to build the same model car at another plant in mexico. then they discuss plans to step up their electric vehicle research and to do that, they need smart, experienced people that they wouldn't find in mexico. which is yet another logical decision, as most R&D is done in the same manner. once the vehicles get designed and means to manufacture them are good, then they go offshore, to place like mexico. it didn't matter if trump, Obama, or mr peanuts was in office, none of this would have changed. if you had any business sense, instead of relying on your allowance to make ends meet, you'd know this. btw, I've worked in the auto sector world for many years, so I expect all of you to believe every thing I tell you. Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted January 26, 2017 Share Posted January 26, 2017 furthermore, I think JEFF missed the whole point of the op. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted January 26, 2017 Platinum Contributing Member Share Posted January 26, 2017 Ford, FCA and GM have all made recent announcements to invest big here in the states. As well as Hyundai and Kia. 800 New jobs from ZF also. Coincidence I suppose Quote Link to comment Share on other sites More sharing options...
JEFF Posted January 26, 2017 Author Share Posted January 26, 2017 19 minutes ago, Snoslinger said: furthermore, I think JEFF missed the whole point of the op. It's pretty obvious that whatever you "think" is about 180 degrees from reality. Quote Link to comment Share on other sites More sharing options...
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