I woke up this morning after my wife left for work and turned on MSNBC’s Morning Joe. This is how I start 4 out of 5 weekdays.
The political chit-chat was about Tuesday’s Election races, what it all means, and all this “fill the time” political fluff and puff that is required for these talk shows to stay on the air.
As my political skepticism continued, all of a sudden, they had a breaking news story about Ford….
DEARBORN, Mich. (AP) — Ford Motor Co. says it made nearly $1 billion in the third quarter, fueled by U.S. market share gains, cost cuts and the government’s Cash for Clunkers rebates.
The Dearborn, Mich.-based automaker posted net income of $997 million, or 29 cents per share. Ford says it now expects to be “solidly profitable” in 2011. Previously Ford said it would be break-even or better.
Ford’s key North American division posted a pretax profit of $357 million, its first quarter in the black since the first quarter of 2005.
The earnings came despite an $800 million revenue drop compared with the third quarter of last year. But Ford said it cut structural costs by $1 billion during the quarter.
Without my knowing all the details, I still see this as a victory for the Sink or Swim mentality and economic policy that excludes Federal Government (Taxpayer) Bailouts and Takeovers that have been so controversial the last couple of years.
You and I have limits as to what we can do economically. Those limits are based on our own creativity and abilities, not whether or not the Feds are going to bail us out. And that’s why Ford can hold it’s head high today.