Columbia Newsblaster: Ford posts $8.7 billion loss on asset write-downs

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Ford posts $8.7 billion loss on asset write-downs
Summary from multiple countries, from articles in English

DETROIT - Ford Motor Company tallied the financial impact on Thursday of falling sales of its big pickups and sport utility vehicles, which contributed to the worst quarterly loss in its 105-year history. (article 4) While Ford s auto operations lost $1 billion in the second quarter, the bulk of the company's $8.7 billion loss came from write-downs in the value of its truck factories and lease portfolios. (article 4) Rising gas prices and declining demand for large trucks are prompting Ford Motor Co., which reported a huge net loss in the second quarter on Thursday, to realign some of its North American production lines to build smaller, fuel-efficient cars. (article 2) Three of the world's top carmakers have unveiled plans to help their businesses survive as the industry faces huge losses and slumping consumer demand. (article 10) In recent months, as Ford Motor Company executives watched $4 a gallon gas and a softening economy take a growing toll on sales and market share, the chief executive , Alan R. Mulally, prodded his management team for answers. (article 7) The Ford Motor Company, which devoted itself for nearly 20 years to putting millions of Americans into big pickup trucks and sport-utility vehicles, is about to drastically alter its focus to building more small cars. (article 5)

Other summaries about this story:

Summary from Canada, from articles in English (1 articles) [compare]

Summary from United States, from articles in English (8 articles) [compare]

Summary from the United Kingdom, from articles in English (1 articles) [compare]

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