We got more bad news from Detroit today, as Ford announced it lost $5.9 billion in the fourth quarter, and burned through $5.5 billion in cash. The only silver lining for now is that the Detroit dinosaur is still not seeking federal bailout money.
In the meantime, chalk up another 1,200 job losses stemming from Detroit's demise.
It's insanely frustrating to read the news these days, and see more hard-working Americans losing their jobs because management could not see it's way clear to run a tight fiscal ship, and also build vehicles that would meet the future demands of consumers, rather than the self-serving arrogance of CEOs.
Of course, we were certainly happy to see so many automakers display new, fuel-efficient prototypes at the most recent Detroit Auto Show. But the truth is, those vehicles should be in the showrooms today...instead of labs and auto shows.
And don't buy for a second that these vehicles couldn't be built ten years ago.
While Detroit was pumping out SUVs (and Japan was pumping out hybrids), small engineering firms and energy storage companies all over the world (with nowhere near the capital, funding or logistics that the majors have) were building plug-in and all-electric vehicles, capable of delivering well over 100 miles per gallon.
In fact, just a few days ago, AFS Trinity Power Corporation announced that it had upgraded its prototype for an SUV that can deliver 150 miles per gallon. Think about that the next time you see a commercial boasting 30 miles per gallon for a simple sedan.
Jeff
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