"Ford Motor Co. is scheduled to report its financial results for the second quarter Thursday, and company insiders say that -- while it is still operating at a loss -- they will demonstrate that the Dearborn automaker remains on track to meet its stated goal of returning to profitability by the end of 2011."

General Motors, on the other hand, is forecasting profits as early as 1st or 2nd quarter of 2010. This suggests that GM may actually be a profitable company for more than a year before Ford. If everything unfolds similarly to these projections, this could be very good for the ailing public perception of GM. By being the only profitable domestic automaker, they will be showing the public that the company truly is a new company that is ready to lead the auto industry as it did many years ago.

DETROIT NEWS

Edited July 20, 200916 yr by Dodgefan

Ford's situation was worse than GM's back in 2007... When Mullaly came in he sold off PAG (Jag, Land Rover, Aston) and took out immense loans while credit was flowing. GM said at the time that they would be fine, not knowing that the market and credit would go BUSTO a year later. Ford happened to have already taken the loans that they would ultimately need in Sept 2008, thus they did not have to get anything when he Congressional request came from the GM and Chrysler.

So Ford is not outta the woods yet.

Ford now has a whole lot more debt than the new GM.

Ford now has a whole lot more debt than the new GM.

Exactly. I had been wishing for all three to file BK since 2005. Basically a flush of the BS that they had all accumulated over the last 50 years. Hell I kinda wish that it was possible for GM Europe to do the same, emerge as quick and remain 100% owned by GM.