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Ford surges with record 2Q profit

Ford had a dynamite second quarter, raking in $2.9 billion before profits and recording net income of $1.9 billion, a 44-percent improvement over Q2 2014.

Ford announces it has successfully reduced debt by $9.9 billion

The Ford Motor Company has announced that it has completed more of its financial restructuring initiatives, lessening its debt by some $9.9 billion (from a starting place of $25.8 billion at the end of last year). The company says this move will lower its annual interest costs by more than $500 million. Ford and its financing arm, Ford Credit, are using 468 million shares of stock and $2.4 billion in cash to reach that figure.

Does Washington's GMAC bailout hurt Ford?

The Wall Street Journal puts forth the case that the government's $5 billion lifeline to GMAC has given GMAC a competitive advantage compared to its rivals. After the taxpayer cash was received, GMAC dropped the required credit score to get a loan and began offering 0% financing on several models, and rates from about 1% to 6% on a host of others. While doing so, it admitted that "w

Ford, Toyota adopt Netflix technology for bill paying

The long-time comeback for inquiring creditors has always been the once fail-safe "The check is in the mail." That oldie but goodie won't work anymore if you've purchased a new vehicle from Ford or Toyota's credit arm. The two automakers have adopted bar code scan technology that tells each company whether or not your check actually is in the mail. The same technology is used by Netflix to determine when a subscriber has sent back a DVD, which enables the cloud-based DVD rental service to send t

Ford to sell $500m in new stock

In an effort to secure more capital and reduce debt, Ford plans to sell $500m in new stock. Ford will use the cash infusion to buy bonds from Ford Motor Credit, which has been struggling with the slow economy and nation-wide credit crunch. Goldman Sachs is handling the stock sale, and Ford has given no timetable for when the stocks will enter the market. Ford has already exchanged deb

Rubin's resignation hints at sale of Ford Credit

Ford Motor may be taking a page from General Motors' restructuring playbook in considering ot sell off part of its Ford Credit financial unit. Both companies have seen the cost of capital for their financial subsidiaries rising as the automakers' credit status falls ever further into junk status.