Monday, November 2, 2009
Score One For The Free Market
The only major U.S. automaker not to file for bankruptcy or take bail out cash this year earned earned $997 million, or 29 cents a share, compared to a loss of $161 million, or 7 cents a share on that basis a year earlier.
3 comments:
Free Market?? Seriously you've got to be joking as nothing could be further from the truth. Why the article even states:
"The program [Cash for Clunkers] helped Ford cut costly incentives and raise production."
Without itself a beneficiary of a government program which subsidized automobile purchases, would Ford's third quarter prosperity have faired the same? I say unequivocally that it most definitely would have not!
You are probably right, but the point still stands that the one car company that did not directly take bail out money is the one company making money.
While it may not be perfect I am ready to cheer on any company that appears more self sufficient at this point.
An appearance of self sufficiency is quite a different thing than truly being self sufficient in business endeavors and/or otherwise.
Why just look around. They appearance; the facade being put over on the American people tell them that GDP is up that we are on the path to economic recovery. The reality however tells quite a different story.
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