profitability

Ford's debt rating downgraded by Moody's: a strong sign (2019/09/22)

Junked Ford
In the midst of the Frankfurt Motor Show, Moody's announced that it was downgrading its credit rating on Ford Motor Company's debt from Baa3 to Ba1.
 
It thus removed bonds issued by Ford from the "investment grade" category and placed them in the "speculative" a/k/a "junk bond" category.
As asset management specialists explain, the risk is that prices will fall as some investors are not allowed to hold such securities, displaced to "non-investment grade" category: they are then required to get rid of them.
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Dégradation de la note de la dette de Ford par Moody’s : un signe fort

Junked Ford
En plein Salon de Francfort, l’agence Moody’s a indiqué qu’elle dégradait la note de solvabilité qu’elle attribue à la dette de Ford Motor Company de Baa3 en Ba1
Elle retirait ainsi les obligations émises par Ford de la catégorie des "investissables" pour les placer dans celle des "spéculatives", celle des "obligations de pacotilles" ou "junk bonds".
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2019: a year of fundamental decisions for carmakers

Disruptive profit strategy : could Detroit mix oil and vinegar ?

The weekly column of Bernard Jullien , former director of Gerpisa, lecturer in economics (University of Bordeaux) and scientific advisor to the Essca Group's Chair of Network Management.

The season of financial results is on this February and most of the world's major automakers are indicating, one after the other, that 2019, as we reckon the years to come, will disappoint shareholders.
 
Only a handful of automakers, such as FCA or GM, have succeeded in improving their results over the year 2018.
FCA nevertheless expects a less promising 2019 financial year. GM has already undertaken a plan to maintain its profit rate in the United States in November, cutting 11,000 jobs. Most of the car manufacturers, like Daimler or Ford, have already seen their results drop in 2018. Ford hopes to do better in 2019 thanks to a fairly drastic restructuring plan for all its activities.
Daimler announced this week that achieving a margin target in the 8 to 10% bracket could not be expected until 2021.
 
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2019 : année des arbitrages fondamentaux pour les constructeurs

Disruptive profit strategy : could Detroit mix oil and vinegar ?

The weekly column of Bernard Jullien , former director of Gerpisa, lecturer in economics (University of Bordeaux) and scientific advisor to the Essca Group's Chair of Network Management.

La saison des présentations de résultats se poursuit en ce mois de février et la plupart des grands constructeurs mondiaux indiquent, les uns après les autres, que 2019, comme les années suivantes sans doute, décevront les actionnaires.
 
Rares sont les constructeurs qui, comme FCA ou GM, ont réussi à améliorer leurs résultats sur l’année 2018.
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