In the first quarter of 2009 Ford reported a loss of $1.4 billion, which was better than the forecasts of the analysts. Because of the news, the shares of the company increased by more than 16%. This was reported by the company in their website as well as in the websites in major news companies, such as The Financial Times, BBC News, Bloomberg, The Wall Street Journal and The New York Times.
The Financial Times reported the company didn’t need emergency aid from the government like General Motors and Chrysler did. The newspaper interviewed Alan Mulley, Ford’s chief executive as well as an analyst from Goldman Sachs. Allan Mulley said that the company has a more stable position in the US and a higher market share in Europe. Ford said that they expect to break even on a pre-tax basis in 2011. They also said that they expect further slowdown of cash outflow as it continues to cut costs aggressively. Financial Times used mainly comments and opinions of other people and didn’t write their own opinion about the situation.
BBC news wrote that Ford has better-than-expected results and they don’t need government aid. However, two of Ford biggest rivals General Motors and Chrysler have taken billions in US government aid and still face bankruptcy. BBC used more figures about the company and compared them between years and geographical departments. They commented more on the cost-cutting strategy of the company and in overall the article was positive towards the improved performance of Ford.
Bloomberg as well started off by saying that the company is working to avoid a federal bailout, but they continued by explaining about the cost cutting strategy. The company decreased cash consumption by 49%. Bloomberg also included an analysis of the share price, which were at its highest since September 19. The article continues by saying that even though they managed to decrease costs and to do better than expected, Ford still generates high loses, because of US sales decreasing by 43%. For the analysis of the company Bloomberg used mainly their own word and didn’t have many quotes. Bloomberg than analysed the current market environment by using quotes from the Chief Financial Officer Lewis Booth: ‘This is a very, very difficult environment’. Bloomberg examined more data compared to the BBC and the FT and they investigated in depth the source of the decreasing costs of the company. The manufacturing and engineering savings accounted for the largest piece of Ford’s first-quarter cost reductions.
The longest articles were by The Wall Street Journal and The New York Times. They used longer quotes from interviews with Allan Mulley and they analysed the situation using more explanations. They also showed more figures, such as the exact number of vehicle sold in the first quarter – 973000. They also wrote about the workers in the company and projects which Ford has, such as the new Fusion hybrid sedan, and the recently started program that covers monthly payments for buyers who lose their jobs.
In their website Ford has published all of the figures including the net loss, the gross cash and they also compared it with 2008. They also announced their future projects and aims and a statement made by Allan Mulley. All of the news included the quote that Ford will ‘meet or beat its financial targets’ and according to the company they have enough cash to last through at least 2010. The opinion of some analysts is that GM and Chrysler are likely to file for bankruptcy in the following weeks, but this is not the case for Ford.
The Financial Times reported the company didn’t need emergency aid from the government like General Motors and Chrysler did. The newspaper interviewed Alan Mulley, Ford’s chief executive as well as an analyst from Goldman Sachs. Allan Mulley said that the company has a more stable position in the US and a higher market share in Europe. Ford said that they expect to break even on a pre-tax basis in 2011. They also said that they expect further slowdown of cash outflow as it continues to cut costs aggressively. Financial Times used mainly comments and opinions of other people and didn’t write their own opinion about the situation.
BBC news wrote that Ford has better-than-expected results and they don’t need government aid. However, two of Ford biggest rivals General Motors and Chrysler have taken billions in US government aid and still face bankruptcy. BBC used more figures about the company and compared them between years and geographical departments. They commented more on the cost-cutting strategy of the company and in overall the article was positive towards the improved performance of Ford.
Bloomberg as well started off by saying that the company is working to avoid a federal bailout, but they continued by explaining about the cost cutting strategy. The company decreased cash consumption by 49%. Bloomberg also included an analysis of the share price, which were at its highest since September 19. The article continues by saying that even though they managed to decrease costs and to do better than expected, Ford still generates high loses, because of US sales decreasing by 43%. For the analysis of the company Bloomberg used mainly their own word and didn’t have many quotes. Bloomberg than analysed the current market environment by using quotes from the Chief Financial Officer Lewis Booth: ‘This is a very, very difficult environment’. Bloomberg examined more data compared to the BBC and the FT and they investigated in depth the source of the decreasing costs of the company. The manufacturing and engineering savings accounted for the largest piece of Ford’s first-quarter cost reductions.
The longest articles were by The Wall Street Journal and The New York Times. They used longer quotes from interviews with Allan Mulley and they analysed the situation using more explanations. They also showed more figures, such as the exact number of vehicle sold in the first quarter – 973000. They also wrote about the workers in the company and projects which Ford has, such as the new Fusion hybrid sedan, and the recently started program that covers monthly payments for buyers who lose their jobs.
In their website Ford has published all of the figures including the net loss, the gross cash and they also compared it with 2008. They also announced their future projects and aims and a statement made by Allan Mulley. All of the news included the quote that Ford will ‘meet or beat its financial targets’ and according to the company they have enough cash to last through at least 2010. The opinion of some analysts is that GM and Chrysler are likely to file for bankruptcy in the following weeks, but this is not the case for Ford.
For now lets see how it all plans out
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