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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (178020)7/8/2002 12:36:40 PM
From: reaper  Read Replies (3) of 436258
 
mm, since you are a buyer of F at $12, perhaps you can tell me:

- what free cash flow the business generates that i have missed
- how you feel about the $9.6 billion retained interest in receivables that they've sold (which is up from $3.7 billion at year-end 2000)
- how you feel about the $46.5 billion of leases and how you have developed confidence in the residual value assumptions underlying those leases
- how the company is going to fund a $15.5 billion liability for retiree healthcare and their $2.5 billion pension shortfall
- how you feel about management panicking and top-ticking the palladium market, entering into forward contracts in late 2000 and early 2001 that resulted in a nearly $1 billion loss ($953mm) on those trades
- how it is that cash declined by about $8 billion over the last three years (all record or near-record sales years for autos) while debt increased by about $5 billion
- what your projection for F's credit rating is, and what credit rating you think its finance subsidiary deserves
- why the company is no longer buying back stock or paying a decent dividend

AT&T, Ford and Rite Aid -- yeah, there's a portfolio for the NEXT century <g>
(yeah, i know, you LIKE all this negativity on F)

Cheers
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