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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
Home / Markets / Industries / Transportation
Thursday, July 24, 2008
Ford CEO: Expect More Production of Smaller Vehicles in the US
FOXBusiness
Alan Mullaly, president and CEO of Ford Motor Company, said the company plans to increase production of smaller vehicles in the coming years.
“I think the die is cast,” Mullaly told FOX Business Network Anchor Liz Claman in an interview at Ford's headquarters in Dearborn, Mich. “It really starts with a point of view about the future…we clearly focused on big trucks and SUVs in the United States and we’ve focused on dynamite cars and smaller vehicles around the world and that’s not a balanced plan.”
Mullaly said the company will increase production of the smaller vehicles as early as 2009, by converting some truck factories to into car factories, while also introducing its fuel-efficient lines of vehicles that are popular around the world in the United States.
“We’re going to have a balanced portfolio of small, medium and large cars, utilities and trucks in the United States where every one in every segment is going to be a fuel efficiency leader,” he said.
The company reported second-quarter earnings before the bell Thursday and posted a $8.7 billion loss.
The company looks to be back into positive growth by 2010.
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