Ford (F): The Next Shoe Drops

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By Douglas A. McIntyre Published
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Ford (F) is off almost 5.5% today, victim of the double whammy.

With private equity frightened of its own shadow and the $10 billion Home Deport (HD) Supply deal in trouble, it is unlikely that Ford can unload Jaguar and Rover. Jaq has lost money in the past, so any deal of the two units would probably require substantial leverage. No one is going to have an interest in that.

Over on the other side of the debt crisis, signals are the mortgage defaults are rising. Consumers who can’t sell their homes are not going to buy cars. People who have lost their homes probably aren’t in the market for a pick-up.

Yesterday, Ford had a bit of a run when its new CEO said that the company still believed that 2009 could be profitable. Today’s market could make that comment look irrational.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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