Great news for Ford. Profit is always good - but these days I'm more impressed with the fact that Ford continues to reduce its debt load! DETROIT - The Motor City!!!
In continued efforts to return to investment grade, the automaker reduced its debt by $2.5 billion during the quarter...
From The Detroit News: http://detnews.com/article/20110426/...#ixzz1KdAqZYKC
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April-26-11, 07:22 AM #1agrahlma Guest
Ford posts strong first-quarter earnings of $2.6B
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April-26-11, 07:40 AM #2
DetroitYES Member
- Join Date
- Mar 2009
- Posts
- 387
I agree. It's amazing to me that about two years ago Ford was carrying over $30 billion in debt and they have essentially managed to cut that debt in half in that span of time. If the economy and/or Ford doesn't hit a snag, they could possibly be debt free by as early as 4Q 2012 or 1Q 2013. That's great news for investors and great news for Michigan.
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