DETROIT -(Dow Jones)- Ford Motor Co. (F) Friday announced wide-ranging cost cuts after burning through $7.7 billion in cash in the third quarter, as revenue plunged owing to rapidly deteriorating auto-market conditions.

The Dearborn, Mich., auto maker hopes to improve the cash position in its automotive business by between $14 billion and $17 billion by the end of 2010, through a mix of job cuts, reduced benefits, lower capital spending, divestiture of noncore assets and new financing measures.

“Ford’s actions are based on the expectation that the global auto industry downturn will be deeper, broader and longer than was previously assumed,” the company said. Ford said volume declines in 2009 are expected to be comparable with this year’s steep declines, and that the company “will continue to adjust its production in line with the lower demand.”

Ford, like its domestic peers, is in a race against the clock to boost liquidity as global auto sales suffer the effects of deteriorating investor confidence and tight credit conditions. Ford and other auto makers have had to ramp up restructuring efforts in recent weeks, while seeking financial support from governments to weather the downturn.

Ford’s operating loss, excluding items, widened to $3 billion, or $1.31 a share, in the third quarter, from $24 million a year earlier. The net loss for the latest period, of $129 million, or 6 cents a share, included a $2.3 billion gain mostly related to writing off retiree health costs being transferred to a union-run trusts.

Revenue in the third quarter was $32.1 billion, down $9 billion from the year earlier period, as revenue in the automotive business dropped 23% to $27.8 billion.

In recent premarket trading, shares of Ford were up 3.5% to $2.05 as investors awaited third-quarter results from General Motors Corp. (GM) that are expected to show huge losses.

Ford Confident In Liquidity Position

Investors are paying particularly close attention to the cash-outflow numbers from Ford and GM, amid concerns that the companies might face a liquidity crunch by next year. In the case of Ford, the $7.7 billion reduction in its cash position in the third quarter marked a dramatic acceleration from the $2.1 billion decline in the previous three-month period.

Ford Chief Financial Officer Lewis Booth told reporters the company is ” comfortable with its liquidity position” despite the big outflow in the latest quarter. He declined, however, to comment on whether the worst is behind Ford in terms of cash burn.

Much of the outflow in the third quarter related to lower production volumes as the auto maker idled plants and laid off workers to respond to the drop in consumer demand. The trend continues in the fourth quarter as the company plans to reduce its salaried work force by 10% and cut the output of trucks and cars by about 200,000 vehicles from last year.

Ford finished the third quarter with gross cash in its automotive business of $18.9 billion, and available credit lines of $10.7 billion. Booth said Ford doesn’t expect to tap the loan revolvers, noting that the company will continue to aggressively reduce costs and manage cash with discipline.

Brian Johnson, analyst at Barclays, said Friday during an interview with CNBC, that the amount of cash Ford burned through in the third quarter was higher than expected. Nonetheless, he said that Ford is in a better position than GM on that front and could make it through 2010 just by using current cash and available credit.

Ford is in a better position than its rivals in part owing to a decision in late 2006 by Chief Executive Officer Alan Mulally, who had just recently joined the company, to raise about $23 billion in debt using almost all the company’s assets as collateral. Also under Mulally’s leadership, the company has sold off its Aston Martin, Jaguar and Land Rover luxury brands.

North American Weakness

Despite those moves, Ford has registered $24 billion in net losses since the start of 2006, and its stock price has traded at multidecade lows in recent months.

The major source of weakness continues to be North American operations. Ford North America reported a pretax loss of $2.6 billion for the third quarter, compared with a loss of $1 billion a year earlier. Revenue plunged 35% to $10.8 billion in Ford’s North American automotive business.

The company has been stung by a steep decline in demand from consumers grappling with mounting economic woes and reduced availability of credit in recent months. For much of the year, Ford and its peers were hurt primarily by the sharp decline in sales of trucks and sport-utility vehicles as fuel prices hit record highs. But just as fuel prices started receding, a financial system and capital markets crisis sent consumer confidence reeling, keeping potential buyers out of showrooms entirely.

The weakness has expanded around the globe in ways that auto makers hadn’t anticipated, further reducing optimism about the prospects for U.S. auto makers. Until the latest quarter, international sales had helped offset weakness at home. Now, a slew of foreign auto makers have reported disappointing earnings and weak outlooks as the global scenario deteriorates.

Ford Europe’s pretax profit fell to $69 million in the third quarter, versus $ 293 million a year ago, even as revenue increased 17% to $9.7 billion. Ford’s Volvo Cars unit reported a pretax loss of $458 million, versus a loss of $167 million a year ago.

Pretax profit in Ford’s Asia Pacific and Africa business narrowed to $4 million from $30 million in the third quarter of 2007. Ford South America had a profit of $480 million, up from $386 million.

Ford’s finance arm reported a pretax profit of $161 million, down from $546 million a year ago. Though down, Ford Motor Credit continues to provide profits for the parent company, a stark contrast to the steep losses at GM’s lending arm, GMAC Financial Services.

-By Jeff Bennett, Dow Jones Newswires; (248) 204-5542; jeff.bennett@ dowjones.com

-By Stephen Wisnefski, Dow Jones Newswires; (312) 750 4142; stephen.wisnefski@ dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today’s most important business and market news, analysis and commentary: http:// www.djnewsplus.com/al?rnd=rAiNfEpL3yJaxPyClBtHeA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
11-07-08 0913ET
Copyright (c) 2008 Dow Jones & Company, Inc.

Dan Terkell said his father died at home, and described his death as “peaceful, no agony. This is what he wanted.”

“My dad led a long, full, eventful, sometimes tempestuous, but very satisfying life,” Terkell said in a statement issued through his father’s colleague and close friend Thom Clark.

He was a native New Yorker who moved to Chicago as a child and came to embrace and embody his adopted town, with all its “carbuncles and warts,” as he recalled in his 2007 memoir, “Touch and Go.” He was a cigar and martini man, white-haired and elegantly rumpled in his trademark red-checkered shirts, an old rebel who never mellowed, never retired, never forgot, and “never met a picket line or petition I didn’t like.”

“A lot of people feel, ‘What can I do, (it’s) hopeless,’” Terkel told The Associated Press in 2003. “Well, through all these years there have been the people I’m talking about, whom we call activists … who give us hope and through them we have hope.”

___________
Source:
By CARYN ROUSSEAU, Associated Press Writer

Technorati Tags: Pulitzer

Once the vehicle has been cleaned and repaired, you’ll need to determine what it’s worth. Consulting specialized publications such as used vehicle value guides is a good starting point. By looking at both the trade-in and suggested retail values listed for your car, you can determine an asking price somewhere between them. Also check your local newspaper’s classifieds, and newsstand publications containing used-car ads in order to determine local market pricing. Look for listings of vehicles similar to yours and compare their asking prices. Using multiple sources helps assure that you arrive at a fair and realistic asking price.

The next step is to advertise and field phone calls. Since most private party vehicles are sold through local classifieds or used-car publications, start by placing ads in those but be prepared to advertise in multiple sources. Remember to calculate the costs involved. If the car doesn’t sell right away, make sure you can afford to run ads for an extended period of time if necessary.

After the ads have been placed, remember to set aside time to answer phone calls and meet interested parties for test drives. Prepare yourself for possible scheduling hassles like multiple buyers wanting to see the car at the same time, and for negotiating in general. How low a price will you really accept? How will you handle competing offers and other dilemmas?

When you finally find a buyer and have the money in hand, the last step is to transfer the title and registration, and cancel your insurance on the vehicle.

Selling Your Car on Consignment

A third, relatively trouble-free way to sell your car is through dealer consignment. In this scenario, the dealer typically handles the sale of your car in exchange for a service fee and/or a 6-10 percent commission on the eventual sale of the vehicle. It’s then their responsibility to detail, display, and sell your vehicle for a price you determine. This arrangement frees you from the day to day hassles of selling the car on your own and almost always nets a higher value than simply trading it in.

However, consignment is not for everyone. Only select dealerships even accept vehicles for sale on consignment. Most prefer to take cars in on trade. Those that do are usually specialty dealerships targeting buyers of specialty vehicles such as sports cars, luxury cars and classics. So if you’ve got an aging Taurus, consider trading or selling on your own. If on the other hand, you’ve got a classic Ferrari or Porsche, consignment could save you from the ordeal of selling it yourself.

Technorati Tags: Cars, insurance, luxury cars and classics, selling car, sports cars, vehicles

Bentley Continental GTC Convertible

The car Bentley Continental GTC Convertibleis 2008 is luxury and fantastic design with MSRP: $193,990 (31, August 2008 - via Yahoo!)

Technorati Tags: 2008 Bentley Continental GTC Convertible, Bentley Continental GTC

This doesn’t just go for buying a car. When you lease a car, the amount it will be worth at the end of the lease is critical in determining your monthly lease payment price. It’s called residual value, an important factor to keep in mind if you’re shopping for a new car.

In a list compiled by Automotive Lease Guide, or ALG, the 10 cars expected to hold value the most over the next five years are an eclectic group (sedans and small sport utility vehicles, among others). What do these cars have in common?

“You see a much better alignment of production with market demands,” says James Clark, editorial director of ALG.

What about cars that will hold the least value after five years?

“You’ll see a lot of brands we traditionally have high-depreciation rates for,” says Clark.

Some of these vehicles are heavily used as fleet vehicles for rental car companies; some (i.e. Korean brands like Hyundai and its subsidiary, Kia) have perceived quality issues, even though Clark says the Korean brands’ “quality has actually gotten a lot better, but their perceived quality is still low.”

Best Value Holders:

1. Volkswagen R32

MSRP: $32,990
Style: Performance
5-year residual value: 43 percent or $14,186
Engine: six-cylinder, 3.2-liter, 250 horsepower
Warranty: Basic — 4 years/50,000 miles, powertrain — 5 years, 60,000 miles
Special features: SIRIUS satellite radio, power glass sunroof, multi-function trip computer
Reasons it will hold value: It’s a reasonably priced, low-volume car. It’s a descendant/variant of the Volkswagen GTI, also known for its quality.

2. Jeep Wrangler

MSRP: $19,680
Style: SUV
5-year residual value: 42.9 percent or $8,443
Engine: Six-cylinder, 3.8-liter, 202 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — lifetime limited warranty, certain restrictions apply
Special features: AM/FM radio with in-dash CD player & MP3 capability, Sentry Key Theft Deterrent System
Reasons it will hold value: It’s cornered the niche market for people who like to do a lot of off-roading and has few competitors.

3. Mini-Cooper

MSRP: $18,700
Style: Hatchback
5-year residual value: 42.7 percent or $7,985
Engine: Four-cylinder, 1.6-liter, 118 horsepower
Warranty: 4 years/50,000 miles
Special features: Four years of complimentary roadside assistance, toggle switch controls, fully electronic throttle
Reasons it will hold value: It’s sporty, fuel-efficient, reasonably priced and covers a wide spectrum of customers. It also has a good reputation.

4. Scion XB

MSRP: Manual $16,370, automatic $17,320
Style: Compact station wagon
5-year residual value: 39.5 percent or $6,466(manual)/ $6,841 (automatic)
Engine: Four-cylinder, 2.4-liter, 158 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 5 years, 60,000 miles
Special features: Tachometer and trip meter, 60/40-split folding rear seat, AM/FM CD and iPod capability
Reasons it will hold value: It’s relatively fuel-efficient, reasonably priced and it has more space than compacts with similar prices.

5. Honda CR-V

MSRP: $20,700
Style: SUV
5-year residual value: 39.4 percent or $8,156
Engine: Four-cylinder, 2.4-liter, 166 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 5 years/60,000 miles
Special features: XM satellite radio, Honda satellite-linked navigation system, digital audio card reader
Reasons it will hold value: It’s fuel-efficient for an SUV, seats five and has plenty of storage room.

6. Toyota RAV4

MSRP: $21,500
Style: SUV
5-year residual value: 38.9 percent or $8,364
Engine: V-6, 3.5-liter, 269 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 5 years/60,000 miles
Special features: AM/FM 6-disc CD changer with satellite radio capability and MP3/WMA capability, 10 cup holders
Reasons it will hold value: By SUV standards, it’s fuel-efficient. It seats five and has plenty of storage room.

7. Infiniti G35/G37

MSRP: $32,250
Style: Sedan
5-year residual value: 38.9 percent or $12,545
Engine: V-6, 3.5-liter, 306 horsepower
Warranty: Basic — 4 years, 60,000 miles, powertrain — 6 years/70,000 miles
Special features: XM satellite radio, tire pressure monitoring system, heated front seats
Reasons it will hold value: It’s a great price for the product. The performance is similar to the BMW 335, but is approximately $8,000 cheaper.

8. Dodge Viper

MSRP: $87,460
Style: Sports car
5-year residual value: 38 percent or $33,235
Engine: V-10, 8.4-liter, 600 horsepower
Warranty: powertrain — 3 years/36,000 miles
Special features: AM/FM stereo with CD player and CD changer, Sentry Key Theft Deterrent System
Reasons it will hold value: It’s a low-volume sports car that has an exotic feel and is reasonably price compared to exotic sports cars.

9. BMW 1 Series

MSRP: $28,600
Style: Small luxury/small-family
5-year residual value: 37.8 percent or $10,811
Engine: Six-cylinder, 3.0-liter, 230 horsepower
Warranty: 4 years/50,000 miles
Special features: Two-way power glass moon roof, anti-theft AM/FM audio system with 10 speakers and satellite radio/MP3 capability
Reasons it will hold value: It has a very low volume and is smaller, lighter and cheaper than the BMW 3 series.

10. Nissan Rogue

MSRP: $19,430
Style: SUV
5-year residual value: 37.5 percent or $7,286
Engine: Four-cylinder, 2.5-liter, 170 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 5 years/60,000 miles
Special features: Drive computer, XM satellite radio, MP3/WMA capability
Reasons it will hold value: It’s a fuel-efficient SUV and good for those wishing to downsize a bit.

Worst Value Holders

10. Hyundai Entourage

MSRP: $23,995
Style: Minivan
5-year residual value: 20 percent or $4,799
Engine: V-6, 3.8-liter, 250 horsepower
Warranty: Limited — 5 years/60,000 miles, powertrain — 10 years/100,000 miles
Special features: Projector-type fog lights, dual front automatic temperature control
Reasons it won’t hold value: It’s a combination of product deficiencies, poor marketing and historical depreciation of Hyundai vehicles.

9. Chevrolet Malibu Classic

MSRP: $20,550
Style: Sedan
5-year residual value: 20 percent or $4,110
Engine: Four-cylinder, 2.4-liter, 169 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 5 years/100,000 miles
Special features: OnStar with standard one-year directions and connections plan, three-month trial of XM satellite radio
Reasons it won’t hold value: The body style is in its last generation. It is sold to rental fleets. As such, rental companies sell them after a year, leaving a large supply of them and making resale prices low.

8. Kia Optima

MSRP: $17,030
Style: Sedan
5-year residual value: 20 percent or $3,406
Engine: Four-cylinder, 2.4-liter, 162 horsepower
Warranty: Basic — 5 years/60,000 miles, powertrain — 10 years/100,000 miles
Special features: AM/FM/CD audio system, optional trip computer, optional MP3-compatible audio system
Reasons it won’t hold value: It’s primarily a rental fleet car. The Kia brand typically sees high depreciation rates largely because of past quality issues.

7. Suzuki Forenza

MSRP: $13,999
Style: Sedan
5-year residual value: 19.5 percent or $2,730
Engine: Four-cylinder, 2.0-liter, 127 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 7 years/100,000 miles
Special features: Eight-speaker AM/FM/CD audio system with MP3/WMA playback, heated outside mirrors
Reasons it won’t hold value: It’s not really designed for the U.S. market. It’s primarily a fleet car. Also, this is the last year this model will be made.

6. Hyundai Accent

MSRP: $10,775
Style: Subcompact
5-year residual value: 19.3 percent or $2,080
Engine: Four-cylinder, 1.6-liter, 110 horsepower
Warranty: Basic — 5 years/60,000 miles, powertrain — 10 years, 100,000 miles
Special features: AM/FM/XM/CD/MP3 audio system with auxiliary input jack
Reasons it won’t hold value: It’s a subcompact that’s often used for rental fleets. The brand has a history of high depreciation for perceived quality issues.

5. Kia Rio

MSRP: $11,540
Style: Subcompact
5-year residual value: 19.2 percent or $2,216
Engine: Four-cylinder, 1.6-liter, 110 horsepower
Warranty: Basic — 5 years/60,000 miles, powertrain — 10 years/100,000 miles
Special features: Optional AM/FM/CD audio system
Reasons it won’t hold value: Similar to the Hyundai Accent’s reasons — it’s a subcompact fleet car with past quality issues.

4. Suzuki Reno

MSRP: $13,299
Style: Subcompact
5-year residual value: 19 percent or $2,527
Engine: Four-cylinder, 2.0-liter, 127 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 7 years/100,000 miles
Special features: AM/FM/CD/cassette stereo with eight speakers, heated rearview mirrors
Reasons it won’t hold value: Although it’s priced significantly lower than its direct competitors, such as the Honda Fit, the Reno is known to underperform, get poor fuel efficiency for its class, ride badly and fall short in refinement.

3. Kia Spectra

MSRP: $13,545
Style: Compact
5-year residual value: 18.8 percent or $2,546
Engine: Four-cylinder, 2.0-liter, 138 horsepower
Warranty: Basic — 5 years/60,000 miles, powertrain — 10 years/100,000 miles
Special features: AM/FM/CD audio system with audio input jack for MP3 devices
Reasons it won’t hold value: For many of the same reasons other Kias won’t — it’s a rental fleet car and it has perceived quality issues.

2. Chevrolet Uplander

MSRP: $22,320
Style: Van
5-year residual value: 18.5 percent or $4,129
Engine: V-6, 3.9-liter, 240 horsepower
Warranty: Basic — 3 years/36,000 miles, powertrain — 5 years/60,000 miles
Special features: OnStar with one-year Safe and Sound Plan, AM/FM/CD stereo with MP3 playback and auxiliary input jack
Reasons it won’t hold value: Its gimmick of taking a minivan and trying to make it look like an SUV didn’t work. This model will not be produced after this year.

1. Lincoln Town Car
MSRP: $45,295
Style: Sedan
5-year residual value: 18 percent or $8,153
Engine: V-8, 4.6-liter, 239 horsepower
Warranty: Basic — 4 years/50,000 miles, powertrain — 6 years/70,000 miles
Special features: Heated front seats, universal garage door opener.
Reasons it won’t hold value: It’s a fleet car and it’s not fuel efficient (it’s only sold as a V-8).

– Fritz Esker
Copyrighted, Bankrate.com. All rights reserved.

Technorati Tags: 10 Best Cars, Automotive Lease Guide, Worst 10 Cars Holding Value

While it may seem a bit simplistic, the easiest and most important way to ensure that one is getting best deal possible on car insurance is to comparison shop before making the policy purchase. Some people simply renew their insurance every six months without shopping around to see if a better deal is possible. Some simply call the first insurer for which they see an advertisement. Careful research of the available options really can help to find a cheaper car insurance quote.

The cheapest rate is not the only factor in getting the best insurance deal available. The policy that’s easiest on the pocket may turn out to be too good to be true. One also needs to be sure that the prospective insurer or agency has a good reputation as an honest and trustworthy business. Ask around among your friends and family members for a referral to a good agency, or, if that doesn’t work, try calling the Better Business Bureau, or reading online evaluations of agency or insurance company performance.

Another way to obtain more cost-effective car insurance is to be organized from the start. Before searching for quotes, put all of your driving information (the make, model, and year of your car; your address; a brief summary of the accidents or tickets you’ve had in the past 10 years; and any special safety features that your car has on it) down in an easy-to-read format, and have it with you while researching or speaking with insurance agents.

Remember, even if you have all this information memorized, you should write it down in a tidy list, anyway. That way you won’t accidentally give out different data to different vendors to use in quoting. Reading this information from a short list is the best way to give the information out consistently. A vendor who gets the same information as another will be able to make a comparable quote, but if the information is different, your quotes can’t be compared fairly.

Don’t forget that insurers sometimes offer special deals if you’re able to do without certain things; for example, eliminating weekend driving may reduce your policy price substantially, since many accidents happen on Saturday and Sunday. Thus, you should remember to inquire about such programs while speaking with each agent.

In the same vein, you can save money by eliminating optional coverage you don’t need. For example, if you belong to any roadside assistance club, you can safely strike out optional towing coverage. Removing that coverage will remove the associated costs from your total. You might also consider striking out collision damage coverage, and/or glass breakage coverage, depending on the costs of those options and the age and condition of your vehicle. If the cost of repairing or replacing your car is lower than the repair insurance plus deductible, you’re better off driving without the coverage.

Lastly (it can’t be overstated how important this is) get quotes in writing before making decisions! Otherwise you may end up choosing one supplier based on a price you expect to receive, only to see extra terms and conditions on the final forms. Quotes can also differ in their fine print terms and conditions, so be sure to compare details before making your selection. There’s nothing wrong with getting quotes over the phone or by visiting various offices, but before you actually compare those quotes and make your choice, be sure you’ve got them in writing.

These tips will assist you in obtaining a better and more cost-effective car insurance quote. During this rough economic period, saving on your car insurance can help substantially when it comes to being able to afford the essentials of life. And, if you save enough on your auto insurance policy, you might even be able to afford the gasoline to actually drive your car.

SOURCE: 3×24
by Susan Tanner

Technorati Tags: Auto Car Insurance, Get Cheap Car Insurance, insurance quote, money

ShopWiki mobile was the online shop that provided various needs assesoris and the car equipment, this was an ease for you who wanted to shop in an online manner without the worried feeling, all things that were bought by you will be delivered until your house safely and quickly.

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Forward-Facing Car Seats

Booster Car Seats

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