"Ford Motor on Thursday reported a net loss of $12.7bn or $6.79 a share for 2006, the largest in its 103-year history and one of the largest ever for a carmaker.
"The figure exceeds the $10.6bn net loss reported by General Motors in 2005, previously the largest reported in recent years by any of Detroit's troubled Big Three automakers.
"Ford's net loss includes a total of $9.9bn costs associated with its restructuring efforts and fixed impairments. Before Thursday's announcement, analysts had said they expected Ford to take large charges on its earnings in order to reflect the full brunt of its massive ongoing restructuring.
Because of these facts, I don't agree that the market is heading for a soft landing.
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