Ford Motor Co posted a record $8.7 billion quarterly loss on Thursday as it wrote down the value of slumping truck and SUV operations and revamped plans in a bid to break its reliance on the gas-guzzlers that have been its franchise vehicles for a decade.
The second-quarter loss was deeper than analysts had forecast and Ford shares fell by 15 percent. Its bonds also traded lower.
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Thursday, July 24, 2008
Ford Lost Billions in Quarterly Loss: Gas Guzzlers Let It Down
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