Corzza

I wonder just how competitive they are going to be....

Morning all!!!

* Hope this isnt a double post* Last Updated: July 24. 2010 1:00AM. Ford Motor Co. earned $2.6 billion on higher car and truck sales in the second quarter, its biggest quarterly profit in 12 years, and repaid some of the debt that it took on to ride out the industry downturn. "We're ahead of where we thought we'd be after this excellent first half, and we expect even better results in 2011," Ford President and Chief Executive Alan Mulally said. "It appears to us we're going to be able to improve the balance sheet and reduce the debt," he told analysts and reporters Friday. Compared with its crosstown rivals, Ford made it through the downturn intact, after borrowing $23 billion in late 2006. But its heavy debt load left Ford at a disadvantage relative to General Motors Co. and Chrysler Group LLC, which shed their debts in bankruptcy. Now, after five consecutive profitable quarters, Ford repaid $7 billion of debt, trimming interest expenses by more than $470 million. Chief Financial Officer Lewis Booth said the company expects to go from having net debt to a positive cash position sometime next year. "That's a strong statement about how the business is going," he said. Ford's better-than-expected results triggered a rally in its shares, which closed up 5.29 percent at $12.73. The company's $2.6 billion quarterly profit, on revenue of $31.3 billion, compares with a $2.26 billion profit a year earlier and was the highest quarterly total since the first quarter of 1998. Its pre-tax operating profit totaled $2.9 billion, or 68 cents per share, Ford's best quarterly operating performance since the first quarter of 2004. The operating results exceeded analysts' expectations, averaging 41 cents per share, and reflected gains in the company's automotive and financial services businesses. Ford's pre-tax profits in North America of $1.9 billion also were well above most estimates. Its overseas operations were profitable, too. During the second quarter, Ford sold 1.4 million vehicles, up from 1.2 million a year ago. The automaker is benefiting from the savings generated by a restructuring under Mulally, as well as higher vehicle prices reflecting the growing strength of its brands while many of its rivals are struggling. Looking back, Booth described the move by Chairman Bill Ford Jr., Mulally and former CFO Don Leclair to mortgage most of Ford's assets and take out the loans as "a brilliant bit of work. I don't think anyone anticipated how bad the recession would be," he told The Detroit News. "We still have more debt on our books than our competitors," he said. In the second quarter, Ford had $5.4 billion in net debt, down from $9 billion at the end of the preceding quarter. But, Booth added, "we would not trade all of our debt for all of the problems of becoming bankrupt." He cited the upheaval that GM and Chrysler have experienced, while Ford was able to pursue its strategy under the same management team. GM and Chrysler appear to be on the mend, as well. GM returned to profit in the first quarter, for the first time since 2007, and Chrysler says it's profitable so far this year, on an operating basis. "A great deal has been made over the fact that Ford has significantly more debt than General Motors," said Shelly Lombard, a bond analyst at research service Gimme Credit. "But Ford appears to have more operating momentum. If it can keep turning that momentum into cash, it should be able to reach its goal of zero net debt this year." This year, Ford has been one of the winners in the U.S. market. It boosted its share to 16.9 percent from 16.4 percent a year earlier, recovering its second-place ranking from Toyota Motor Corp., which suffered a slew of quality problems and recalled millions of vehicles. GM, meanwhile, has cut brands and dealers. Its U.S. market share, along with Chrysler's, has slipped. Ford's product rollout continues this year with a new Explorer SUV, a Fiesta small car, substantially refreshed Ford Edge and Lincoln MKX crossovers, and an electric Transit Connect van. Within the industry, Ford has gained recognition for improving its vehicles. In J.D. Power and Associates' Initial Quality Study, the Ford brand was the highest-ranked mainstream brand. As demand and its business picks up, Ford faces higher commodity prices and structural costs associated with rising production and vehicle development. Its commodity costs and structural costs are each expected to rise by $1 billion this year. For seasonal reasons, the second half of the year will be slower than the first half. The second half will include planned shutdowns and launch costs. "As in most years, Ford's first-half results will be stronger," the company said. Next year's operating profit, however, is predicted to top this year's. The question mark remains the economy. Ford officials said it appeared to be on track, but the company trimmed the top of the range of its U.S. market forecast and now expects industry-wide sales to total between 11.5 million and 12 million this year. "We're in a period of slow recovery," Booth said. "It's not a rapid recovery -- but we think it's sustainable."

Wow that is a shock

The guy just goes about his business. Anyways its the team that im cheering for!!!

PARRA POWER!

Good one!!!

Spotted this chap on Windsor road corner Old northern road Baulkham hills today @ 11:30

A Blonde gets a job as a teacher. She notices a boy in the field standing alone, while all the other kids are running around having fun. She takes pity on him and decides to speak to him. 'You ok?' she says. 'Yes.' he says. 'You can go and play with the other kids you know.' she says. 'It's best I stay here,' he says.' 'Why?', asks Sue, the blonde. The boy says: 'Because, I'm the f**king goalie!!'

By MARTON PETTENDY FORD'S discontinued Territory Turbo will not be replaced by a performance-leading supercharged V8 model when Australia'shomegrown SUV is upgraded early next year. Before it was axed as a result of tighter new Euro 4 emissions regulations that came into force on July 1, the Turbo Ghia topped the Territory range at $66,820. Now, however, the turbocharged crossover wagon, which joined the Territory line-up two years after its 2004 launch in 2006, has met the same fate as FPV's slow-selling version, the short-lived F6X. Effectively representing a reversal of the scenario in which Ford developed a turbopetrol variant of the Territory instead of a turbo-diesel, Ford has now confi rmed there will be no replacement for the range-topping Territory Turbo when the facelifted model is released next year. Instead, as it has already confi rmed, Ford Australia will fi t a European-sourced 2.7- litre turbo-diesel V6 from Land Rover's Discovery in the upgraded 2011 Territory, which will also receive major interior and exterior revisions for the fi rst time next year. Ford has also announced that an all new 'Coyote' V8 will represent a belated replacement for the discontinued 5.4-litre Boss V8 that powered XR8 and FPV models. As we have reported, GoAuto has learned the new supercharged 5.0-litre V8, which is yet to emerge in Australia, will be available in three states of tune: an entry-level version delivering 315kW in the upcoming 2010 XR8, a 335kW version for FPV and, perhaps, a circa-400kW variation for next year's return of the hotly anticipated GT-HO nameplate. However, Ford has now confi rmed its locally developed blown V8 will not grace the Territory engine bay, leaving the V6 diesel to fl y the SUV's performance fl ag. "The addition of the turbo-diesel engine for Territory next year will complement the current I6," said Ford Australia spokeswoman Sinead McAlary. "We have no current plans for any other powertrain. "Our engineering resources are concentrating on delivering the diesel engine for Territory next year, which we think will attract more customers to the Territory brand."

Fantastic result!!

How did you guess? lol We dealing with a tricky customer at the moment. A mate of the Warrens

This morning again in West Pennant Hills

Can I go home yet?

I am yet to see one. Heard on the radio there was one in Pennant hills

How we all doing?

Spotted Riki83 parked in his driveway today.

Place is a bit dead at the moment

Moving into the new place this weekend.

Roy, an undertaker, recently came home with a black eye. "What happened to you?" asked his wife. I had a terrible day." replied Roy . "I had to go to a hotel and pick up a man who had died in his sleep. When I got there, the manager said they couldn't get him into a body bag because he had this huge erection. Anyway, I went up and, sure enough, there was this big naked guy lying on the bed with this huge erection. So I grabbed it with both hands and tried to snap it in half." "I see" said his wife,"that must have been awful, but how did you get the black eye?" Roy replied: "Wrong room."

Excellent mate! Enjoy it

If its a genuine ford extended warranty and you planning on keeping the phoon stock then sure go for it. If not dont bother wasting your money

Nah turn around and get into the top 8

Well done Parra! Please let this be the turn around

Morning all!