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Ford Motor (NYSE: F) recently indicated that it doesn't anticipate needing federal bailout money. The automaker is in the same heap of trouble as its competitors, but has handled costs and other infrastructure items better with CEO Alan Mulally at the wheel in recent years.But everything may come to a pass later this year, according to Barclays' analyst Brian Johnson. Johnson indicated that even Ford will need to tap the federal spigot at some point. That is, unless a miraculous revival in new auto sales happens...starting yesterday. Johnson even cut his price on Ford shares to $1 from the previous $4 mark. That's bed sentiment I think -- right?
One of the bigger pie pieces listed in Johnson's missive is the underestimated state of Ford's international sales. In just its last quarter, the automaker lost $1.1 billion. Think that just U.S. buyers are not buying new vehicles? Nah -- it's everyone.
Johnson's immediate suggestion for Ford: re-negotiate contracts with the unions to the tune of GM's recent negotiations and slice as much fat as possible. Ford may not be making money any time soon, but at least it'll be able to support itself. That is, for now.
Johnson's immediate suggestion for Ford: re-negotiate contracts with the unions to the tune of GM's recent negotiations and slice as much fat as possible. Ford may not be making money any time soon, but at least it'll be able to support itself. That is, for now.
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