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COMMENTS: USED CARS
If there is a silver lining for Ford, it is that the majority of its losses were one-time costs associated with "massive restructuring charges," the euphemism NBC's Tom Costello used for laying off 52,000 workers and closing nine plants.
Then there are the dark clouds. CBS' Anthony Mason cited its $23bn in debt. Ford is putting "all of its US assets, in effect the entire brand, up as collateral." ABC's Bill Weir (subscription required) pointed to slumping sales of SUVs and pick-up trucks: "In an era of expensive gas bigger is no longer better." Costello was told by his auto industry sources that "Ford's product line is simply boring." An analyst told him simply that "this may not be a viable enterprise"
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