Ford page 4

Ford page 4 by ric gustafson


The financial crisis Ford faced in 2006 was the latest setback for the 103 year old company. Henry Ford had $ 20 million in cash but $ 58 million debt in 1921. He closed his main factory, laid off a lot of his workers and sold off all the remaining Model T's he had in stock. By the end of 1921, He had $ 87 million in the bank. In 1929 during the economic depression, Ford raised salaries for his workers. In 1931 during the Great Depression, Ford was forced to close twenty five factories and 75,000 jobs.
During the 1970's, lawsuits began to pile up against Ford because of the Ford Pinto. After posting a profit of $ 906 million in 1972 by 1980 the company had a $ 1.4 billion loss.
In 1983, Ford was back on top with the profits from the sales of the Ford Taurus. It's profit in 1983 was $ 1.8 billion. In the 1990's, truck based SUV's were the emerging trend. In 1990, Ford introduced the Ford Explorer. It took only a few months to become the best selling SUV in the world. In 1997, Ford introduced the Ford Expedition and in 1999, the Ford Excursion.
In 1999, Ford posted a profit of $ 7.2 billion.


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Peace and God's blessings. Love Ric