This is Management / PR Dept Speak for not making the forecast profits.
What it really says is that they were $12bn off their forecast for annual profits. This may of course still mean a loss, but if their profit forecast was $12bn, then they have actually broken even. These news reports are for the (inverse) benefit employees, shareholders and the IRS.
Employees don't ask for more money
Shareholders don't expect a dividend
The IRS doesn't waste time looking for tax money
Furthermore, everybody expect cuts the following year and nobody makes a fuss.
RESULT for the CEO & his VPs etc.
Rule No.1 for the cynic..... Don't believe any corporate financial information in the public domain.
25th Jan 2007 6:02 pm
AndrewS Tarquin of the Desert
Member Since: 06 May 2005
Location: Y...... because I can
Posts: 10438
That will teach them for buying Land Rover In the Beginning there was nothing, which exploded.
25th Jan 2007 6:02 pm
HarrisonB
Member Since: 03 Dec 2005
Location: Leicester
Posts: 238
Member Since: 18 Feb 2006
Location: Surrey
Posts: 158
I think you'll find this is an actual loss. Ford is a quoted company, the results are audited and the penalties for management for false accounts include prison.
This happened to Enron management and things have been tightened since then by the Sarbanes-Oxley legislation.
AM has been for sales for some while but potential buyers are concerned about dependeny on Ford sourced components. Would imagine this would apply to Jaguar and LR also.
Where can any company loose TWELVE-THOUSAND-MILLION dollars in a year????
This has to be R&D costs without the associated sales revenue. Even then, it's a bit far fetched. Go-on, read that number again in your head and try to make sense of it.
The guys at Enron only got caught........ Lots of others didn't
I'll continue to be a cynic on this no matter what evidence I see
I don't beeeeeleeeeeve it
25th Jan 2007 6:44 pm
DG Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50949
It's always made me smile when I see figures like this being bantered around as a loss...
...a loss where??? Did somebody forget to bank it..... Is it in a bag under someones desk....
Where TF is it ......somebodys rubbing there hands together
Come on ...own up !!! Who's got it ? 21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
Quote: "However, the company said it remained confident that it would return to profit by 2009"
With a loss like that, I'd only be confident if I knew someone was going to take the money back out from under their desk and bank it
25th Jan 2007 6:56 pm
SN
Member Since: 03 Jan 2006
Location: Romiley
Posts: 13710
Looking at the PAG figures....
Bloomberg wrote:
...and Premier Automotive Group, with a pretax profit of $191 million.
Jaguar Losses
Premier, comprised of European-based luxury brands, had a full-year pretax loss of $327 million, because of losses at the U.K.-based Jaguar unit. Premier includes Volvo, Land Rover and Aston Martin. The Aston Martin unit is for sale
... that means, without Jaguar, the European profit would have been $518 million, the vast majority shared between Land Rover and Volvo Steve N | 21MY Defender | 08MY Discovery 3 (history) | 06MY Discovery 3 (ancient history)
25th Jan 2007 7:09 pm
Penguin
Member Since: 02 Dec 2005
Location: A fun place
Posts: 485
Have my D3, have a Def 90, I don't care what happens to Ford, why should you, unless you own stock
If tomorrow LR stops to exists, wel than I have 2 very valuable cars 5 or ten years after...In a time of chimpanzees, I was a penguin. www.m-release.com
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Is it in a bag under someones desk.... 
| 08MY Discovery 3 (history) 
