Visteon narrowed losses in 2005

Visteon was able to narrow its losses in 2005 to $270 million, thanks in part to a bailout by Ford Motor Company that resulted in a Q4 net profit of $1.3 billion. The bailout, which allowed Visteon to transfer 23 plants to Ford and around 1,800 workers, was worth about $1.8 billion.

By Erin Mays
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Visteon was able
to narrow its losses in 2005 to $270 million, thanks in part to a bailout by Ford Motor Company that resulted in a Q4
net profit of $1.3 billion. The bailout, which allowed Visteon to transfer 23 plants to Ford and around 1,800 workers,
was worth about $1.8 billion.

Despite the fact that the company hasn’t made it through its rough patch yet, the company’s board of directors
approved big salary increases for its own members as well as executives at the company, setting off waves of disapproval
within the ranks of the UAW.