The flacks at Ford could not have wished for better publicity. ABC's Chris Bury pointed out that the latest Consumer Reports quality ratings rank 90% of its cars "above average or better, easily beating General Motors, leaving Chrysler in the dust." He added that Ford's Focus and Escape were the only models from an American automaker among the top ten subsidized by this summer's federal Cash for Clunkers program. He cited one explanation from the company's dealerships: "Ford's decision not to take billions in government loans--as GM and Chrysler did--convinced consumers it would survive."
CBS' Dean Reynolds added that Ford was not only gaining market share and making profits in North America; it netted $247m in South America, $193m in Europe and $27m in Asia. "Ironically being profitable could come at a cost," CNBC's auto industry correspondent Phil LeBeau noted on NBC. A proposed concession-laden no-strike contract with the United Autoworkers was rejected by a 70% vote of the rank-and-file workforce. "Keep in mind Ford still has $27bn in debt, so it is not out of the woods completely yet."
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