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Ford tiene razones para el optimismo:







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Ford loses $6 billion but won't seek fed help
Automaker draws on all credit lines after posting worst loss ever
By Shawn Langlois, MarketWatch

Last update: 4:09 p.m. EST Jan. 29, 2009

SAN FRANCISCO (MarketWatch) -- Ford Motor Co. on Thursday reported a wider-than-expected fourth-quarter loss, reeling from a global sales downturn but standing by its claim that the company won't need to join domestic rivals in looking for a taxpayer handout.


Ford shares followed the broader market lower to close down 3.9% at $1.95. They have fallen 70% in the past year.

"In the fourth quarter, we faced nearly unprecedented challenges across our global markets," CEO Alan Mulally said in a conference call.

"The worldwide economic slowdown driven by tight credit markets and weak consumer confidence has shaken the foundation of even the strongest companies in the automotive sector and other industries," he added.
The Dearborn, Mich.-based automaker posted a loss of $5.9 billion, or $2.46 a share, wider than its loss of $2.8 billion, or $1.33 a share, in the final three months of 2007.

That brings the total loss for the year up to $14.6 billion, Ford's worst ever.
Revenue dropped 34% to $29.2 billion as car sales dried up in the U.S. market. Underscoring this, Ford posted sales of 139,067 cars and trucks in December, down 32% from a year ago.

Analysts polled by FactSet Research had been looking for a loss, on average, of $1.27 a share with sales of $27.4 billion.

"We continued to take the decisive actions necessary to lower production to match the lower worldwide demand and reduce costs," Mulally said, adding that details of further restructuring moves will be announced at a later date.

For now, Ford announced that its credit arm would cut 20% of its work force, or 1,200 jobs and the United Auto Workers union agreed to end the "jobs bank" at Ford. The company and the union presently are working out the details of implementation. General Motors Corp and Chrysler are already in the process of shutting down their programs.

Nevertheless, Ford reiterated its financial health and said it won't need a bridge loan from the U.S. government. The No. 2 U.S. automaker said it remains on track to break even or be profitable on a pre-tax basis by 2011.

Ford said it finished 2008 with $24 billion in available automotive liquidity, including $13.4 billion in gross cash.

'Another ugly report'

Wall Street Strategies analyst David Silver said it was "another ugly report" for Ford and that he isn't convinced the company can avoid seeking federal aid.

"Ford is completely drawing down all its available credit and if the economy doesn't begin to see any improvement over the next six months, Ford will be at the government's doorstep soon enough," he said.

Ford is looking to receive the funds from its credit lines on Feb. 3 and will add the $10.1 billion to its cash position to be reflected on the first-quarter balance sheet.

A move by the government to put more cash into consumers' hands could give the industry a much-needed boost, but Silver cautioned against seeing the infusion as a panacea.

"I am far from a believer that this stimulus package will fix all the problems, but hopefully it will get the ball rolling," he said.

The U.S. House of Representatives on Wednesday approved an $819 billion economic stimulus package, which includes $275 billion in tax cuts, $523 billion in direct spending, and other provisions.

The package comes on the heels of the worst month of sales in 26 years for the industry as consumers steered clear of showrooms amid doubts about their jobs and finances.

Automakers will post their January sales next week. Analysts expect to see more of the same dismal results across the industry, a trend that will likely continue through the year.