Ford Losses Are Awful, Cash Burn Is WorseBy
Ford Motor (F) lost $14.6 billion in 2008, its worst annual performance in 105 years, as the U.S. auto market collapsed in the fourth quarter. But the company is sticking to its plan to not ask for U.S. Treasury loans, counter to what rivals General Motors (GM) and Chrysler are doing to cope with historic losses.
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