Ford announces $129M 3Q loss, burns $7.7B in cash
9:31 AM Fri, Nov 07, 2008 | Permalink
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DEARBORN, Mich. -- Ford Motor Co. said Friday it lost $129 million in the third quarter as the struggling automaker burned through $7.7 billion in cash, according to The Associated Press. The automaker also said it will cut about 2,260 more white-collar employees in North America as it tries to weather the worst economic downturn in decades. Ford says it lost 6 cents per share for the quarter, compared with a loss of $380 million, or 19 cents per share, a year ago. The company posted a pretax loss of $2.7 billion from continuing operations. But it was offset partly by a $2 billion gain as the company shifted retiree health care liabilities to a trust run by the United Auto Workers. 
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