Ford Rumors Settled

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Mark Fields took the time last week to quiet some concerns about the rising pension numbers for Ford next year.

At a Society of Automotive Analysts event, Fields addressed the statement made by Chris Ceraso that Ford’s earnings will be affected per share next year.

Fields stated, “Our pension expense for 2011 will increase moderately. We do not expect, however, any impact on our cash contributions.” Fields also added that, “Ford expects to contribute about $1.5 billion to its pension plan in 2011 or about the same as it plans to contribute this year,” according to the Detroit Free Press. He also seems confident that earnings will not hurt in the following years. Fields’ positive attitude reflects Ford’s sales in the beginning of September.

Our auto shipping companies look forward to the bounce back from the recession, for both car companies’ and our customers’ sakes. We hope to see sales rise and pensions remain protected as well.

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