Sure, it’s easy to say get woke and go broke, but when you have Bud Light, Target, Disney as real world examples it can ring true. They are all just different flavors of ass tasting ice cream.
Now we have Boeing and Ford.
FORD
Ford loses $132,000 on every electric car it builds, or $5 Billion a year. Henry Ford is turning in his grave.
First published JoNova; Ford CEO Jim Farley still plans to push forward with his loss making electric vehicle strategy. (dumbass)
Ford just reported a massive loss on every electric vehicle it sold
By Chris Isidore, CNN
Updated 2:10 PM EDT, Thu April 25, 2024New YorkCNN —
Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.
Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.
The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.
The losses go far beyond the cost of building and selling those 10,000 cars, according to Ford. Instead the losses include hundreds of millions being spent on research and development of the next generation of EVs for Ford. Those investments are years away from paying off.
And that means this is not the end of the losses in the unit – Ford said it expects Model e will have EBIT losses of $5 billion for the full year.
BOEING
After stating that DEI/DIE was the most important part of their business, they just burned through $3.3 billion in one quarter cleaning up the mess:
Top jet manufacturer Boeing reported on Wednesday a net loss of $355 million in the first quarter after months of scrutiny over recent safety issues.
Operating revenue declined 8% year over year in the first quarter, from approximately $17.9 billion to $16.6 billion, with the company burning more than $3.9 billion in free cash flow in the time frame compared to $786 million a year ago, according to Boeing’s first quarter earnings report. Recent scrutiny of safety with Boeing products began in January after an Alaska Airlines flight had a door plug fly off mid-air, resulting in an emergency landing and an investigation into the company’s quality assurance.=
“Our first quarter results reflect the immediate actions we’ve taken to slow down 737 production to drive improvements in quality,” Boeing CEO Dave Calhoun said in the report. “We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future.”
Boeing reported an over $3.3 billion operating cash flow loss in the first quarter, compared to a $318 billion loss at the start of 2023, according to the earnings report. The decline in profits led to a core loss per share of $1.13 for shareholders in the first quarter, lower than the $1.27 loss in the same time frame last year.
Delusions of Adequacy 