Worst In 130 Years: Ford Posts $12.7 Billion Loss...
Associated Press TOM KRISHER January 25, 2007 08:14 AM
Ford Motor Co. lost $5.8 billion in the fourth quarter amid slumping sales and huge restructuring costs, pushing the fabled automaker's deficit for the year to $12.7 billion, the largest in its 103-year history.
The annual loss of $6.79 per share reported Thursday surpassed its previous record for a year of $7.39 billion set in 1992. It earned $1.44 billion, or 77 cents a share, in 2005.
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Ford Motor Co. lost $5.8 billion in the fourth quarter amid slumping sales and huge restructuring costs, pushing the fabled automaker's deficit for the year to $12.7 billion, the largest in its 103-year history.
The annual loss of $6.79 per share reported Thursday surpassed its previous record for a year of $7.39 billion set in 1992. It earned $1.44 billion, or 77 cents a share, in 2005.
READ FULL STORY
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