Ford's resurgence--traced by the Atlantic Wire here, here, here and here--continues apace. The Detroit automaker has raked in its first yearly profit since 2005. The
$2.7 billion sum comes amid safety questions for competitor Toyota. Does the profit vindicate Ford's decision to refuse
bailout money, or merely showcase the impact of government-funded Cash for Clunkers program? Depending on whom you ask, the profit is
either a tremendous accomplishment or pretty much to be expected.
- Ford Bids for #1 24/7 Wall St.'s Douglas McIntyre says that, with the news, Ford "made its case again as the premier car company in America based on product leadership and sales results." Ford may well capitalize on Toyota's troubles.
- American Company Actually In the Black? "When a U.S. car company is profitable," notices Americablog's Joe Sudbay, " it's considered breaking news in 2010."
- Points for Refusing Government Money "Yes," admits Stephen Spruiell at the National Review, "the company benefited from Cash for Clunkers and a range of other government subsidies ... But you still have to respect its decision to eschew government 'loans' and indeed thrive without them." Meredith Jessup at Townhall announces the news as "Ford shows t hat it pays to be above bailouts."
- There Was Still Plenty of Government Money "It looks like it isn't only banks that can make a fortune with government backing and zero percent interest rates." The Business Insider's John Carney isn't impressed.
- Numbers We Can All Agree On Searching for the big picture, Autoblog's John Neff says "there is one thing Ford announced that we're sure everyone can understand": Ford is increasing North America production levels. "This will help Ford meet rising demand for its cars and trucks and keep inventory hovering around a 60-day supply, the industry standard."