1929 Tudor Traditional Hot Rod Flathead Trip Deuces Rat White Scta Bonneville on 2040-cars

Auto blog

Ford books $2.6B pretax quarterly profit

While its crosstown competitors at General Motors are smarting over a drastic drop in net income to $200 million in the second quarter, Ford has reason to celebrate. The Blue Oval has announced its own Q2 financial results, including a growing net income of $1.3 billion, a $78 million increase over last year. Pretax profits for the company reached $2.6 billion, up $44 million from 2013, but total revenue dropped slightly to $37.4 billion, down from $37.9 billion. Profits per share before one-time charges totaled 40 cents per share, beating Wall Street analysts' expectations of 36 cents a share.
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.

Bill Ford augments his power by nearly doubling stake of supervoting shares

Bill Ford Jr. has more sway than ever over the automaker that bears his surname, as the great-grandson of Ford's founder has reportedly doubled is holdings of Class B Ford stock. According to a report from Reuters (which cites a newly discovered securities filing), he acquired some 3.7 million Class B shares from an unnamed family member.
Class B shares of Ford stock are held by descendants of Henry Ford and offer expanded voting power to their holders - Bill Ford Jr. now controls roughly 11.5 percent of the total Class B pool. Ford Jr. is also a one of five trustees that manage a voting trust that oversees the majority of these "supervoting" shares. In total, Reuters reports there are 71 million Class B shares that account for 40 percent of the voting power in the company, despite making up just 2 percent of the total volume of all Ford stock.
Ford Jr. served as Ford's CEO until 2006, when he stepped down to hire and make space for current CEO, Alan Mulally. The move to consolidate Ford family voting power, at least somewhat, is seen by many as a comforting sign with Mulally's departure from the company likely to happen in the next several years.

2014 Ford Mustang GT

I was more than a year removed from my last experience with the Mustang GT and its delicious 5.0 V8 when this new 2014 example rolled up to my driveway recently. Good weather and a planned road trip across the state meant that I would get plenty of seat time in this conservatively specified example, too. In total, I logged about 400 miles in a week of driving - not a lot for some of you super commuters out there, but quite a lot for this work-from-home journalist.
The basic formula of the 5.0 has stayed the same for 2014. The 2013 model year saw a number of updates to keep the Mustang fresh until it's replaced with an all-new generation for 2015. So, for its bon voyage tour, the fifth-generation Pony Car has seen only a few modifications: a couple of new paint colors (Oxford White and Ruby Read Metallic), trim and wheel revisions and, sadly, the deletion of the Boss 302 from the Ford lineup. However, while the limited-edition Boss is likely to reappear sometime after the gen-six Mustang makes its debut in 2015, the GT Track Package cars like the one I tested provide at least a partial solution for those looking for hot laps.
Driving Notes