Ford Reports Nearly $9B Loss

Second Quarter Earnings Fall Short Of Expectations; Says U.S. Recovery Won't Occur Until 2010 In a statement, Ford President and CEO Alan Mulally said, "The second half will continue to be challenging, but we have absolutely the right plan to respond to the changing business environment and begin to grow again for the long term." (AP) Things to know before hitting the road. (AP) Ford Motor Co. said Thursday it lost $8.67 billion in the second quarter largely because of a reduction in the value of assets. The company also announced that it will bring six European small car models to North America by the end of 2012 as it deals with a market shift from trucks to cars brought on by high gasoline prices. The company also will retool two more North American truck and sport utility vehicle plants to build small, fuel-efficient... [read full story]