JANUARY 18, 2002
Ford announces $5bn loss of the last quarter of 2001
THE Ford Motor Company has revealed losses of an amazing $5bn in the last three months of 2001. The figures include the losses incurred because of the disputes with Firestone over a series of fatal accident, plus the onset of the recession. The company says that it expects to make more losses in the first half of this year but its restructuring plan will then kick in to begin to balance the books. Ford's share price has dropped to the lowest point in seven years as a result.
The principals of Jaguar Racing continue to say that the problems with the parent company will not affect the Formula 1 program.
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