Friday, January 30, 2009

Ford burns through $5.5 billion in 4th quarter as losses mount

Ford Motor Co., the only U.S. automaker working without federal loans, burned through $5.5 billion in cash in the last three months of 2008 as losses augmented.Ford completed the year with cash reserves of $13.4 billion as it tries to shun borrowing money from the U.S. government. Ford said it is right away drawing down $10.1 billion in obtainable credit lines as of concerns regarding the

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