Ford had the worst year ever

Scott Jagow Jan 25, 2007


SCOTT JAGOW: It’s hard to believe just a few years ago, Ford ranked as one of the world’s most profitable companies.

This morning, the carmaker turned in its balance sheet for 2006. Ford lost an unthinkable $35 million a day. That’s $12.7 billion for the year — by far, it’s worst year ever.

Micki Maynard covers the auto industry for the New York Times.

MICKI MAYNARD: This huge loss that Ford had for the year is mostly restructuring charges. On the other hand, even when you comb through that and look at their operating loss, it’s worse than Wall Street expected.

Ford spent a ton of money buying out employees. It was also hit pretty hard by a drop in sales.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.