Ford posts $1 billion profit
This comes unexpected as just a few months earlier Ford was predicting just breaking even in 2011. But thanks to Barack Obama’s cash for clunkers program (that did more harm then good I might add), and the revitalization of some of their most iconic models, the only company in Detroit to not have tax payers dollars on their books have posted a $977 million profit for the third quarter.
But what is striking is this news comes on the eve that the UAW has rejected a proposition by Ford to freeze the wage increase of all incoming employees. You’d think the UAW would give Ford a break and allow them to fully recover before pestering them for wage increases for employees. And remember everyone in the country is taking lower wages yet Congress and the UAW are handing out pay increases.
They couldn’t be satisfied with running two auto companies, they have to have all three?
VIA: DailyFinance
