Dear Ford

Wall Street wouldn't know bad quality if it crashed THROUGH the stock market...

via The New York Times:

The Ford Motor Company posted a surprise third-quarter profit of $997 million on Monday and said that it had had its first profitable quarter in North America in more than four years. The carmaker also said that, at least temporarily, it had stopped rapidly depleting its cash reserves. It reported positive cash flow of $2.8 billion during the quarter, ending September with $23.8 billion. Through the first nine months of 2009, Ford, the only Detroit automaker to avoid bankruptcy this year, has had a profit of more than $1.8 billion. Still, it has lost about $1.3 billion when one-time items, like a major debt restructuring, are excluded.

Until now, its goal had been to break even or earn a full-year profit by 2011. On Monday the company said in a statement that it “now expects to be solidly profitable in 2011, excluding special items, with positive operating-related cash flow.” It did not indicate whether a fourth-quarter or full-year profit is expected this year, nor did it provide an outlook for 2010, citing continued economic uncertainty.

Now, I won't lie. I think American cars are atrocious, but in the realm of the gas guzzlers, you guys are the only automaker that I can stand. That said, Ford, where did this profit of $997 million just magically appear from? Something about it doesn't make sense. It's one thing to not be in the red anymore (Ford was in fact the only American automaker to stay out of it this year). But it's completely different to post a record sum for a quarter after having been a hair away from bankruptcy only months before. In all honesty, that's an impressive jump. It probably should be noted in some record books or business textbooks because it's dope that they were able to jump out of the hole so quickly. HOWEVER, as we know with 'the Man', his results might be mind-blowing, but his methods are maniacal. Only a fool would believe that Ford attained this new rung of profit by completely legal means, much less NOT through some outdated loophole or random law that allows them to skew their reports. Regardless of my inner ruminations, you guys had a bang-up quarter. I just wish I could believe it as readily as Wall Street did. I guess even the Man gets tricked by the Man at times...