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Ford shares falling on news of lower-than-expected profits next year

Ford has released projections for its 2013 profits, along with predictions of its 2014 earnings, and the news has forced the company's stock to stumble, falling over seven percent as of this writing. The Blue Oval is expecting earnings of $8.34 billion for 2013, although the bulk of that is coming largely from its North American operations, as troubles abroad continue to take a toll.
Calling 2013 an "outstanding" year, Ford expects its revenue to be up about 10 percent, thanks to gains in market share everywhere but Europe. But it's 2014 predictions that are causing stock prices to fall, as the Dearborn-based manufacturer expects pre-tax profits to fall to $7 to $8 billion, because of troubles in both Europe and South America, according to a report from Reuters. This is despite an expansion plan that will see it open an additional factory in the southern hemisphere, as well as two plants in China, all in a bid to launch 23 new or refreshed products next year.
The issues in South America aren't so much related to a fall in sales - Ford expects improved profits in Brazil and Argentina - but because of currency devaluations in Venezuela that are projected to cost it around $350 million. While that would still allow it to break even with 2013, Ford cites continued economic risks that could push losses even higher.

The 11 most expensive American cars ever

Here's a Pro Tip for all you would-be classic car investors out there: buy Ferraris. With the Pebble Beach festivities kicking off this week, including any number high end car auctions, we thought it would be entertaining to compile a list of some to the most expensive cars ever sold with the bang of a gavel. Trouble is, once you get past the splendor of everyone's favorite Italian sports car maker, that list is pretty boring.
Ferrari dominates the all-time auction sales list; seven of the top ten most expensive cars sold wear the Cavallino Rampante badge, as well as more than half of the top fifty. Sure, a nearly $30-million Mercedes-Benz W196 racecar might be the new top dog as of last year, but it's even possible that Ferrari could take that title back in Monterey this weekend. Long story short: we think a list of the most expensive American cars ever sold at auction is a lot more entertaining to read. Hell, our list has a friggin' Batmobile on it, how can it go wrong?
Follow on below for the top ten cars that are red, white, blue and a whole lot of green.

Former Cadillac boss Butler takes Ford tech job

When Don Butler made the surprising decision to leave his post as Cadillac's VP of global strategic development, it was a surprise. Citing a desire to "recalibrate, reassess my priorities" in that August announcement, it wasn't entirely clear where Butler - a virtual General Motors lifer after spending nearly 30 years with the company - would end up. Turns out he took a trip to Dearborn.
Butler has taken a position in the newly created position of Executive Director of Connected Vehicles and Services at Ford, where he'll be responsible for the Blue Oval's global connectivity strategy. "Not only does Don understand the connected car landscape, but probably just as important, he understands customer expectations," said Raj Nair, who, as Group Vice President of Global Product Development, is Butler's new boss. "Having a leader with technology experience both inside and outside the industry is a rare combination - we're excited to have Don join our team."
As Ford has received its fair share of flak for the sometimes recalcitrant MyFord Touch infotainment system and its Sync voice-controls, it appears that Butler has his work cut out for him.