Found On Roadside not Dead

Now proof that Capitalism, hard work and the ability to manage and build
quality products pays off.

If you are looking for a new vehicle, there is only ONE car company in America to consider....FORD


In an effort to save $470 million in interest payments and strengthen its balance sheet, Ford (F: 10.21, 0.14, 1.39%) said Wednesday it plans to pay $3.8 billion in cash
to a retiree union benefits trust.

Combined with an April payment of $3 billion on a revolving credit facility, Ford said the moves reduce its debt by more than $7 billion in the second quarter.

Ford said it is retiring its debt owed to the United Auto Workers retiree medical benefits trust ahead of schedule by making the payments. The auto maker, which unlike General Motors and Chrysler did not need to file for bankruptcy during the recession, cited increasing “momentum” in its recovery plan and expected “solid profits” and cash flow this year.

"We are pleased to make these payments ahead of schedule for the benefit of Ford and our UAW-Ford retirees who count on the Trust for their health-care benefits," CEO Alan Mulally said in a statement. “Our business results make it possible to take these actions while still accelerating the investments we are making in our business to serve our customers with the very best cars and trucks."

Ford said it is making scheduled cash payments of about $860 million on Notes A and B held by the UAW trust. While Ford had the option to pay Note B with stock, it said it will pay in cash. At the same time, the auto maker and its credit arm are paying a combined $2.9 billion to retire the remaining obligation on Note A at a discount of 2%.

Ford also said it plans to make a $255 million cash payment to make it current on a previously deferred trust. The company said the actions, combined with the April payment on a revolving credit facility, will save it $470 million in annual interest expense.

“We are very pleased with this transaction, which continues the process of diversifying the Trust's assets at very attractive values and assists the thousands of Ford retired employees, their families and survivors and others who look to the Trust to fund their retiree health benefits," said Samuel Halpern, president of Independent Fiduciary Services, the independent fiduciary and investment manager for the UAW trust.

Shares of Ford responded well to the moves, rising 5.q% to $10.38 Wednesday.

i love my f350............

We had bought a Chevy Malibu last year and we both grew to hate it. That car was the most uncomfortable car we have every drove, long or short distance. I wished we would have kept the 02 Impala that had well over 100 miles on it. Well about a month ago the wife couldn't stand that car any longer so she sold it and we went down and she found a beautiful Red Taurus. That is one amazing car and drives and handles like a big luxury car. The seats are so comfortable I could sleep in it. Ford out did themselves on this one and if I ever buy another truck again it will probably be a Ford.

hat's off to ford ,but I'll keep my 01 Dodge diesel (238000) & going strong

Here is what my wifes Taurus looks like. Ford has come a long way. This is actually her third Taurus. She had a beautiful 89 red one but was hit from behind and was totaled. Her second one was a Taurus Sho a program car all black and fast. The Chevy Malibu she had don't hold a candle to this car.

That new Ford of the wifes has the air conditioning that goes through the seat, only problem is that its been so darn cool this year we haven't had a chance to use it.

does the heat go through there also???? if the ac can i would think the heat can also....

sweet!!!!!!!

Not only that but the darn seats have a separate heat switch, Now that's what yea call a hot ass.

:roflmao: Have to get up and get a job first...:roflmao::roflmao:

yup, i knew he couldnt come up with the cash!!!!!!!!!!:roflmao: