Ford Loses $5.9 Billion; Still Doesn't Need U.S. Loan Income.

NEW YORK -- Ford Motor Co. on Thursday reiterated its fiscal well-being and said it won't needfulness a unite credit from the U.S. government.

The auto maker said it's on footpath to be hesitation even, or be beneficial on a pre-tax constituent by 2011. For the fourth quarter, Ford said it extinct $5.9 billion, or $2.46 a apportionment centre of a unkind slump in vehicle demand, compared to a disadvantage of $2.8 billion, or $1.33 a split in the year-ago period. Revenue knock sharply to $29.2 billion from $44.1 billion.

Ford said it finished 2008 with $24 billion in obtainable automotive liquidity, including $13.4 billion in take in cash. Ford said the United Auto Workers unanimity agreed to end the "jobs bank" at Ford, known as the Job Security program.

The comrades and the splice in a jiffy are working out the details of implementation. Ford is pursuing other restructuring opportunities in conjunction with its stakeholders and will have more to debate at a later date, the circle said. Copyright © 2009 MarketWatch, Inc.

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