demise of Clarions PND division I come across this press release in my feed readerthough Im sticking with my prediction.  Im not even going to blog it.  Direct copy right here
ZURICH, Switzerland, Dec. 17 /PRNewswire/ SVOX, the leading provider of embedded speech solutions today announced that Clarions newest Mobile Internet Device ClarionMiND features SVOX speech technology, according to CEO Volker Jantzen. The innovative device, which combines navigation and entertainment capabilities with Internet connectivity to realize connected navigation services, is destined for North American and European markets.
A combination of a high-resolution screen with the latest browser technology enables, for the first time, unrestricted PC-like Internet experience on a Mobile Internet Device with a built-in navigation capability. Connectivity to the Internet is available through Wi-Fi or Bluetooth using mobile phone dial-up.
Andreas Augsten, Manager Engineering at Clarion Europe, said, For such a ground-breaking device as ClarionMiND, we were looking for a speech solution that both delivers the expected quality level and allows for fast integration and last-minute changes. SVOX Mobile Pro TTS solution fits the bill perfectly.
SVOX Mobile and SVOX Mobile Pro TTS solutions are available as part of the Elektrobit Street Director solution used by Clarion to enable navigation in ClarionMiND. Customers using SVOX Mobile and SVOX Mobile Pro TTS solutions can choose from 21 languages and 28 voices and benefit from a powerful, production-grade tool chain.
Martin Reber, SVOX COO, stressed the customer benefits stemming from pre-integration of SVOX TTS into the Elektrobit navigation software solution. When speech technology comes pre-integrated into the overall navigation software package, customers like Clarion have fewer technicalities to worry about and can instead concentrate their efforts in areas where the use of embedded speech allows true differentiation.
About SVOX AG
SVOX AG is the leading provider of embedded speech solutions for automotive and mobile device industries. The SVOX Text-to-Speech system, the companys signature solution, enables electronic devices to convert written text into natural-sounding and easily comprehensible speech. SVOXs focus on the embedded domain and the modular design of the Text-to-Speech engine means that the solution can be easily tailored to specific technical requirements and market needs.

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However, early iphone adapters are disappointed with Steve Jobs statement that the iPones price will go down by almost $200, 3 months after they bought the $599 Apple phone. The change in price came with the release of iPod touch an iphone without the phone. But 2 days after the announcement during Apples The Special Event, Steve Jobs sent out an open letter to the iphone owners that they will be receiving a $100 store credit reward. Now, the iphone owners are more than happy with the rebate after crying foul over the price cut.

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Some used cars include side-impact and side curtain airbags as standard, although it’s less common than in newer models. Cars.com’s “Used Cars for Teens” article lists models that include side airbags as standard or optional equipment, including side torso, torso/head and side curtain airbags. We’ve listed a few of those vehicles below that include a form of side-impact airbags as well as side curtain airbags as standard.

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The Samsung Behold holds a lot of promise as mid-level feature phone for users who want a 5 megpixel camera, multimedia capabilities, email syncing, Bluetooth, GPS, and some web browsing. One reviewer thought the full-featured camera was better than the Moto ZN5 while another thought the Samsung Behold camera was not as good as the ZN5.

All reviewers commented on the great 3G speed of T-Mobile with the Samsung Behold. They also noticed that all features were not top of the line. Web browsing was called lackuster because it defaults to mobile-friendly WAP pages when they are available. The on-screen QWERTY keyboard is small but functional.

Due to the constant iPhone comparision reviewers did not like that the Samsung Behold lacks Wi-Fi. It's mutimedia functions as music player were fine although it requires a propriety headphone jack. The Smasung Behold comes in rose and espresso and is considered by one reviewer to be a fun phone. Call quality was excellent.

To read summaries of the reviews reviewed for this "Review of Reviews" continue reading.

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A few things to consider before joining Smaller Indiana:

1. We want to know your real name...Please use your real name (first and last) when registrering, or we cannot open your account

2. We want to know the real you...Please do NOT use your Smaller Indiana blog for blatant self promotion

3. We want to see your smiling face...Please do not use logos or commercial images for your profile photo

4. Events should be posted in the events calendar, not inside blog posts

5. Please do NOT post commercial video (demo reels), or Corporate Website promotions in your blog

6. You can post pretty much anything you want on your own personal page (self promotion, etc), and you can change the style of your personal profile page to reflect your corporate identification if you so choose.

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A couple weeks back, Blackberry users on Verizons carrier network were reporting partially unlocked GPS on their phones.  Verizon has traditionally been a closed off carrier that forced users to navigate with its proprietary VZ Navigator software, but its been under pressure lately to fully unlock the GPS on its phones.  Finally, it seems the carrier is cracking.
A user nicknamed efudd from WMExperts apparently received the following letter from Verizon indicating itll be opening up GPS next year:
Verizon Wireless, like all carriers, orders devices to meet certain specifications inclusive of features. Each of these specs is tested to determine if it meets our performance goals. There are instances when the phone will pass our extensive testing process but a specific feature may not meet the standard. We will often choose to introduce the phone without that feature but ask that the manufacturer come back to us with revised software that has to be tested to make sure the service works the same across our entire wireless footprint from Maine to Hawaii. In the case of open standalone GPS, we are partnering with the Windows Mobile device manufacturers to provide a software upgrade that will add this capability to the existing assisted GPS capability. This is a complex development project to provide open standalone GPS while maintaining the assisted GPS capability with the level of performance and security that our customers expect. The recently introduced Windows Mobile devices including Omnia, Saga, and Touch Pro are targeted to add open standalone GPS in the 1st half of 2009.
Steve Schwed
Verizon Wireless
HQ Executive Relations Supervisor
So it doesnt appear that Blackberry phones will be unlocked, but a few Windows Mobile phones including the Omnia, Saga, and Touch Pro will.  At least its a start.

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On November 14, Nokia reported that estimates for both the fourth-quarter of 2008 and the whole of 2009 would be lower than expected, and got burned. Today, Nokia added more fuel to the flames with its latest announcement that industry sales for 2009 would drop by a least 5 percent, and fourth-quarter sales would be lower than the previous 330 million unit estimate. At Nokias Capital Markets Day, there was also the standard spiel about reducing costs and the company being well-positioned, etc but the bottom line was that the mobile phone industry is hurting, and will be hurting next year too.

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Four classic automobiles will be auctioned by the American Concours Foundation with the proceeds going to charitable institutions like the Amelia Island Concours Foundation and the Concours Las Vegas.
The four classic automobiles will be sold separately and will be auctioned online. The four vehicles are totally unique and rare that the bidding will surely go through the roof. A Mercedes, a Lincoln and two Jaguars will be auctioned via eBay.
The first of the four classic automobile is a 1955 Mercedes 300SL Gullwing Show Car. This timeless piece of engineering was first introduced to the public in 1954 at the New York Auto Show. It is distinct among it predecessors because of the fact that it did not debut during a European motor show.
Aside from that peculiarity, the Mercedes Benz 300SL is also best known for its gullwing or butterfly wing doors. The door configuration is now being used on sports cars and is also known to enhance the aesthetic value of a vehicle.
The 300SL is also the first car to be equipped with a gasoline engine with the direct fuel injection system. This means that the technology used in the 300SL is akin to diesel engine. The estimated value for this rare car is between $600,000 and $700,000.
The second car on the auction block is a rare 1954 Jaguar XK 120 Drop Head Coupe. This rare car is the forefather of the modern Jaguar XK which has captured the attention of performance enthusiast not only because of its high aesthetic value but also because of its high level of performance. The particular Jaguar XK to be auctioned has been thrice owned, with the current owner having owned the car since the year 1991.
The third classic car which will be auctioned is a 1933 Lincoln KA V-12 Model 513A Convertible Roadster. This is the oldest car in the group and is also the rarest of the four - owing to its age. The car can accommodate two or four passengers, and is equipped with rumble seat and side mounts. This particular model was designed by Dietrich and the body was built by the Murray Corporation.
The last of the four classic cars to be auctioned is another Jaguar. This time, a 1967 Jaguar E Type Vintage Roadster OTS Race Track Prepped. The car combines both beauty and strength. This street legal is ready for a race, thanks to its abundant supply of power. The car has seen life in the fast lane since it has begun its racing life way back in the early seventies.
The auction for the Mercedes 300SL Gullwing and the Jaguar XK120 will end on the 11th of March. The Lincoln and the Jaguar E Type will be on the auction block until the 13th of this month. All these cars are born in the time of history where cars are equipped with high performance engines.

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Okay, so bear with my sappiness, if that's a word.

I'm sitting here at my desk listening to Christmas music, while it's freezing outside. There was ice on my car and ice on our trash can this morning. It will be 28 tonight. Winter is here. Christmas is here. And Baby Kelley is almost here.

Jonathan and Lauren are some of our favorite people. Jonathan is the student minister at Calvary, and we spend more time with each other than we do our wives, it seems. He's probably my best friend in the city, and I'm glad to have spent my first year working with him.

Their son, Spencer Vinsant, should arrive sometime today. Jenny and I are so excited to see how this changes their lives. I guess it's something you're more excited about after having a son yourself. If I didn't have a million things to do to prepare for the events of the coming weekend, I'd be at Baptist in the waiting room all day today. We cannot wait to meet him.

In the meantime, here are the lyrics to one of my favorite Holiday songs. And I'm pretty sure it's a favorite of my mom's as well. Enjoy.

"The Best Gift"

The best gift that I ever got
Didn't really weigh a lot.
It didn't have a ribbon 'round,
And it sometimes made a terrible sound.

The best of all it seems to me
It wasn't b'neath a Christmas tree.
And yet, I guess I'd have to say
That it made all the other presents twice as gay.

The best gift that I've ever known
I'd always wanted most to own.
Yet in my dreams of sugar and spice
I never thought it could be so nice.

The best gift that I'll ever get
Was sometimes dry and sometimes wet;
Was usually pink, but often times red
As it lay so innocently in its bed.

The best gift of the year to me,
The one I hold most dear to me...
The gift that simply drove me wild
Was a tiny, newborn child.

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nursing home neglect allegations, the ABC 7/NewsChannel looked at the D.C. Department of Health’s inspection reports from February and May 2008 and found that a number of deficiencies were noted at the Grand Park Care Center, including the failure to tell a physician that a resident was suffering from dehydration. There were also residents who were reportedly suffering from anemia and weight changes.
According to DC Long Term Care Ombudsman Jerry Kasunic, his team has filed over 100 complaints against Grant Park and says the DC nursing home is one of the “worst” he has encountered. He says dehydration and unattended wound care have led to malnutrition.
Grant Park Executive Director Sandra Durham says the nursing home staff remains committed to improving the quality of service that it provides residents. The home has also reportedly retained the services of a new compliance officer and nursing home director.
Malnutrition and Dehydration
Nursing home residents suffering from malnutrition and dehydration can be prone to serious side effects and illnesses, including a weakened immune system, memory loss, pneumonia, bedsores, muscle mass loss, infection, organ function impairment, anemia, urinary tract infections, pneumonia, and death. Malnutrition and dehydration often occur at care facilities because of nursing home neglect.

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/question-answer.php )
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1. Getting email is a necessary part of online life yet youre finding that just one person is sending you more than normal. Youre becoming somewhat uneasy.
2. It isnt apparent why you are receiving this unwanted email. Whats worse, youre not even sure if you know or do not know the sender. You need immediate help.
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4. With unwanted emails comes the threat of damaging spy ware, malware, viruses, and trojans that can take down your computer, destroy all of your work and completely crash your hard drive.
5. Spam is annoying but you do expect to get at least some daily. However, fear intrudes when your spam compliment is multiplying beyond normal expectations. Spam filters dont seem to help any longer; its now become more than just a small annoyance.
6. A new source sent an email requesting you provide some sensitive information. Determining the legitimacy of the person and the request will help ensure that your job and its confidentiality remain in tact.
7. Character assassination is easy when one is hiding behind the anonymity of the Internet. But, you can stop it by using reverse e-mail search as a means to uncover the culprit and make them accountable for their actions.
8. Keeping track of your children is important to you but it seems that someone else is tracking them via emails also. You need to know immediately who is responsible.
9. Some emails youre receiving contain threats of violence to you, family, friends, co-workers, etc. This has gone beyond harassment; it has now moved into the area of criminal intent.
10. Although youre experiencing this, youre limited in what you can do about it. Thats when the services of highly skilled professionals are necessary to conduct reverse e-mail searches. Theyll get results you can rely upon to help you stop the harassment.

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Reed Brothers Dodge in Rockville, Maryland offers a full line-up of Pre-Owned vehicles at very competitive prices. Our inventory includes not only Dodge, Chrysler, and Jeep, but also Acura, BMW, Cadillac, Chevrolet, Ford, GMC, Honda, Hyundai, Infiniti, Kia, Mazda, Mercedes-Benz, Nissan, Lexus, Oldsmobile, Subaru, Mitsubishi, Pontiac, Toyota, and Volkswagen.
Our pre-owned inventory is diversified in Sedans, Coupes, Convertibles, SUVs, Trucks, Vans, and Commercial Vehicles. If we do not have on hand what will fill your transportation needs, we will find it for you!
A 3-Month/3,000 Mile Limited Powertrain Warranty protects you beginning the minute you leave the lot. Its not just protection for your car, but for your peace of mind. We offer detailed FREE CARFAX VEHICLE HISTORY REPORTS for every vehicle we sell. No worries. At Reed Brothers Dodge, we have a 93-year legacy of earning our customers trust and respect. Give us the opportunity to show you why we are Marylands first choice of car dealerships. Make an Offer on any vehicle in stock! All offers considered!
Please feel free to call Reed Brothers Dodge with any questions you might have. Better yet, stop by our showroom. Were conveniently located on Route 355 at the Shady Grove Metro at 15955 Frederick Rd in Rockville, Maryland. We look forward to meeting you in person.

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I got FREE PSP for Real, it worked for me!!!! It can work for you too !!!!
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FORD REPORTS 3Q $129 MILLION NET LOSS; FURTHER COST AND CASH IMPROVEMENTS PLANNED TO CONTINUE IMPLEMENTING PRODUCT-LED TRANSFORMATION AND OFFSET GLOBAL INDUSTRY WEAKNESS +
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Net loss of $129 million, or $0.06 a share, for the third quarter of 2008
Pre-tax loss of $2.7 billion from continuing operations, excluding special items ++
Favorable curtailment gain in excess of $2 billion related to approval of retiree health care agreement
Company remains on track to achieve $5 billion in cost reductions in North America by the end of 2008 compared with 2005 (at constant volume, mix and exchange; excluding special items)
Automotive gross cash (including cash and cash equivalents, net marketable securities and loaned securities) on Sept. 30, 2008 totals $18.9 billion
Available credit lines total $10.7 billion; overall liquidity totals $29.6 billion
Company planning further cost and cash improvements to continue implementing Ford’s product-led transformation plan and offset continued weakness in the global automotive industry
Financial Results Summary
Third Quarter
First Nine Months
2008
O/(U) 2007
2008
O/(U) 2007
Wholesales (000) ++
1,174
(313)
4,266
(644)
Revenue (Bils.) ++
$ 32.1
$ (9.0)
$ 110.1
$ (18.2)
Continuing Operations ++
Automotive Results (Mils.)
$ (2,906)
$ (2,544)
$ (2,924)
$ (2,715)
Financial Services (Mils.)
159
(397)
( 111)
(1,066)
Pre-Tax Results (Mils.)
$ (2,747)
$ (2,941)
$ (3,035)
$ (3,781)
After-Tax Results (Mils.)
(2,977)
(2,953)
(3,846)
(3,909)
Earnings Per Share
(1.31)
(1.30)
(1.72)
(1.75)
Special Items Pre-Tax (Mils.)
$ 2,207
$ 2,557
$ (6,219)
$ (6,199)
Net Income
After-Tax Results (Mils.)
$ (129)
$ 251
$ (8,696)
$ (8,784)
Earnings Per Share
(0.06)
0.13
(3.89)
(3.94)
Automotive Gross Cash (Bils.)
$ 18.9
$ (16.7)
$ 18.9
$ (16.7)
See end notes on page 9.
DEARBORN, Mich., Nov. 7, 2008 – Ford Motor Company [NYSE: F] today reported a third quarter net loss of $129 million, or 6 cents per share. This compares with a net loss of $380 million, or 19 cents per share, in the third quarter of 2007. Ford’s third quarter pre-tax operating loss from continuing operations, excluding special items, was $2.7 billion, down from a $194 million profit a year ago.
The company also today announced additional actions to reduce costs and improve Automotive gross cash to enable Ford to continue to implement its product-led transformation plan despite the continued weakness in the global automotive market and economic environment.
Improvement actions include: an additional 10 percent reduction in North American salaried personnel-related costs; a reduction in capital spending enabled by efficiencies in Ford’s global engineering and product development; a reduction in manufacturing, information technology, and advertising costs due to the company’s “One Ford” global operations; and a reduction of inventories globally. Ford also said it would continue to explore divestitures of non-core assets and utilize equity-for-debt swaps and other incremental sources of financing to strengthen the company’s balance sheet.
At the same time, Ford reiterated its continued investment in the smaller, more fuel-efficient, high-quality products that will result in a more balanced global portfolio. Ford confirmed that nearly all planned product programs remain on track and on time – aside from a few select vehicles that will be deferred until industry volumes recover. Ford will, however, reduce spending for large vehicles in declining segments.
“We continue to take fast and decisive action implementing our plan and responding to the rapidly changing business environment,” said Ford President and CEO Alan Mulally. “We have a strategy that is broad and specific enough to handle the dramatic changes in today’s environment. We will continue to assess the rapidly changing business environment and modify implementation of our plan accordingly.”
THIRD QUARTER 2008 RESULTS
The 2008 operating data discussed below exclude Jaguar Land Rover, which was sold on June 2, 2008. Jaguar Land Rover and Aston Martin data are, however, included in the 2007 data, except where otherwise noted. See tables following “Safe Harbor/Risk Factors” for the amounts attributable to Jaguar Land Rover and any necessary reconciliation to U.S. GAAP.
On an after-tax basis, Ford’s third quarter operating loss from continuing operations, excluding special items, was about $3 billion, or $1.31 per share, compared with a loss of $24 million, or 1 cent per share, a year ago.
Ford’s third quarter revenue was $32.1 billion, down from $41.1 billion a year ago. The decline reflects lower volume, the sale of Jaguar Land Rover, changing product mix and lower net pricing, partly offset by favorable changes in currency exchange rates.
Special items improved pre-tax results by $2.2 billion in the third quarter, or $1.25 per share, which is primarily due to the retiree health care curtailment gain in excess of $2 billion related to the approval of the retiree health care settlement agreement with the United Auto Workers.
Automotive gross cash, including cash and cash equivalents, net marketable securities and loaned securities, was $18.9 billion on Sept. 30, down from $26.6 billion at the end of the second quarter. The decrease primarily reflects Automotive pre-tax operating losses, changes in working capital and other timing differences, and upfront subvention payments to Ford Credit.
Ford’s Automotive cash flow during the third quarter was significantly affected by a number of unique factors during the quarter, including the decision to reduce truck production to allow for an orderly sell-down of dealer inventories to make way for new models. Overall, Ford’s global third quarter production levels were more than 100,000 units below retail sales and nearly 500,000 units below the second quarter levels. This had a substantial impact on profits, and the decline in production resulted in about a $3 billion reduction in payables during the quarter.
“Strengthening our balance sheet has been and remains a core element of our transformation plan,” said Lewis Booth, Ford executive vice president and chief financial officer. “We were fortunate to have gone to the markets at the right time two years ago to obtain significant liquidity to implement our plan and invest in the new products that will secure our future. We will continue to aggressively reduce costs and manage our cash with absolute discipline to ensure we have the resources to fund our plan going forward.”
In addition, Ford said it will continue working with a number of governments around the world to maximize the availability of funding to provide further protection against the uncertain economic environment that the entire automotive industry is facing.
The following discussion of third quarter highlights and results are on a pre-tax basis and exclude special items. See tables following “Safe Harbor/Risk Factors” for the nature and amount of these special items and any necessary reconciliation to U.S. GAAP. Discussion of Automotive operating cost changes is at constant volume, mix, and exchange, and excludes special items.
THIRD QUARTER 2008 HIGHLIGHTS
Launched the new 2009 Ford F-150 full-size pickup with best-in-class capability and unsurpassed fuel economy. The F-Series remains the No.1-selling truck in America for 31 years running.
Launched the new Ford Fiesta small car in Europe, the first of Ford’s new global small cars. Production began in Cologne, Germany, and the car is now going on sale in Europe. Fiesta also is beginning to now go on sale in Asia and will be introduced in North America in early 2010.
Debuted at the Paris motor show the all-new Ford Ka, a stylish subcompact car that goes on sale in Europe late this year and is featured in the new James Bond movie “Quantum of Solace.”
Launched the Ford Focus in China and the Ford Escape in key Asia Pacific and Africa markets.
Improved vehicle quality again, marking four consecutive years of progress. Ford, Lincoln and Mercury vehicles collectively reduced things gone wrong by 7.7 percent compared to last year, pulling Ford into a statistical quality tie with Honda and Toyota atop the list of seven major automakers in the U.S. Global Quality Research System study.
Achieved the leading number of “Top Safety Picks” from the U.S. Insurance Institute for Highway Safety with the 2009 Ford Flex and Lincoln MKS earning top honors. This builds on Ford’s achievement of the most U.S. government 5-star safety ratings in the auto industry.
Achieved total company cost reductions of $300 million despite commodity cost increases of more than $1 billion. During the first nine months, Automotive costs are down about $3 billion globally, and the company now is on track to reduce costs by about $4 billion for the full year.
Confirmed that Ford North America remains on track to achieve or exceed its commitment of reducing $5 billion in annual operating costs by the end of 2008 compared with 2005.
Achieved continued strong results for Ford South America with a profit of $480 million.
AUTOMOTIVE SECTOR
Automotive Sector* Third Quarter
First Nine Months
2008
O/(U) 2007
2008
O/(U) 2007
Wholesales (000)
1,174
(313)
4,266
(644)
Revenue (Bils.)
$ 27.8
$ (8.5)
$ 96.9
$ (18.1)
Pre-Tax Results (Mils.)
$ (2,906)
$ (2,544)
$ (2,924)
$ (2,715)
*excludes special items
For the third quarter of 2008, Ford’s worldwide Automotive sector reported a pre-tax loss of $2.9 billion, compared with a pre-tax loss of $362 million during the same period a year ago.
The deterioration was due to lower volume and unfavorable mix, particularly for North America and Volvo, unfavorable net interest expense and related fair-market value adjustments, and lower net pricing, partly offset by favorable cost changes.
Worldwide Automotive revenue in the third quarter was $27.8 billion, down from $36.3 billion a year ago. The decline reflected lower volume, the sale of Jaguar Land Rover, unfavorable product mix and lower net pricing, partly offset by favorable changes in currency exchange rates.
Total vehicle wholesales in the third quarter were 1,174,000, compared with 1,487,000 units a year ago.
North America: For the third quarter, Ford North America reported a pre-tax loss of $2.6 billion, compared with a loss of $1 billion a year ago. The decline reflected unfavorable volume and mix, and unfavorable net pricing, partly offset by cost changes. Unfavorable volume and mix primarily reflected a decline in the U.S. industry volumes, changing product mix, lower dealer stocks and lower market share. Third quarter revenue was $10.8 billion, down from $16.7 billion a year ago.
South America: For the third quarter, Ford South America reported a pre-tax profit of $480 million, compared with $386 million a year ago. The increase reflected higher net pricing, favorable volume and mix, and favorable changes in currency exchange rates, partly offset by higher net product costs. Third quarter revenue was $2.7 billion, up from $2.1 billion a year ago.
Europe: For the third quarter, Ford Europe reported a pre-tax profit of $69 million, compared with $293 million a year ago. The decline was primarily due to unfavorable cost changes (unfavorable mark-to-market adjustments for commodity hedges) and currency exchange, partly offset by net pricing. Third quarter revenue was $9.7 billion, up from $8.3 billion a year ago.
Volvo: For the third quarter, Volvo reported a pre-tax loss of $458 million, compared with a loss of $167 million a year ago. The decline was due to unfavorable volume and mix. Third quarter revenue was $2.9 billion, down from $3.8 billion a year ago. As part of its restructuring, Volvo plans a total reduction of 6,000 employees worldwide, including 1,200 agency employees.
Asia Pacific and Africa: For the third quarter, Ford Asia Pacific and Africa’s pre-tax profit of $4 million compares with $30 million a year ago. The decline was due to unfavorable volume and mix, partly offset by favorable net pricing. Third quarter revenue was $1.7 billion, down from $1.8 billion a year ago.
Mazda: Ford lost $1 million from its investment in Mazda and associated operations in the third quarter, compared with a profit of $14 million a year ago.
Other Automotive: Other Automotive, which consists primarily of interest and financing-related costs, reported a third quarter pre-tax loss of $411 million. This included net interest expense of $440 million.
FINANCIAL SERVICES SECTOR
Financial Services Sector* Third Quarter
First Nine Months
(in millions)
2008
O/(U) 2007
2008
O/(U) 2007
Ford Credit Pre-Tax Results
$ 161
$ (385)
$ (100)
$ (1,053)
Other Financial Services
( 2)
(12)
(11)
(13)
Financial Services Pre-Tax Results
$ 159
$ (397)
$ ( 111)
$ (1,066)
*excludes special items
For the third quarter, the Financial Services sector reported a pre-tax profit of $159 million, compared with $556 million a year ago.
Ford Motor Credit Company: Ford Credit reported a pre-tax profit of $161 million in the third quarter, compared with $546 million a year ago. The decline primarily reflected the non-recurrence of net gains related to market valuation adjustments from derivatives, a higher provision for credit losses, and lower volume, partly offset by a higher financing margin.
OUTLOOK
Ford said it is more focused than ever on implementing its transformation plan to respond to the significant challenges presented by the continued global economic downturn. Ford’s plan includes:
Aggressively restructuring to operate profitably at the current demand and changing model mix
Accelerating the development of new products that customers want and value
Financing the plan and improving the balance sheet
Working together effectively as one team, leveraging Ford’s global assets
“These are challenging and historic times for the global automotive industry, but I am more convinced than ever that Ford has the right plan to see us through,” Mulally said. “Ford remains well positioned to take advantage of our global scale and global product strengths worldwide, and we will continue to take the decisive steps necessary to operate through the current downturn and be in a position to begin to grow profitably again as the global economy rebounds.”
Ford said its plan to deliver more of the safe, affordable, high-quality, fuel-efficient vehicles that consumers want and value remains solidly in place. The plan includes:
Delivering best-in-class or among the best fuel economy with every new vehicle introduced globally.
Introducing industry-leading, fuel-saving EcoBoost engines and doubling the number and volume of hybrid vehicles.
Leveraging Ford’s product strengths to deliver more global vehicles in the B, C, C/D and commercial van segments. By 2010, nearly 40 percent of Ford’s product entries in these segments will be shared between Ford North America and Ford Europe, and 100 percent alignment will be achieved by 2013.
Upgrading the Ford, Lincoln, Mercury lineup in North America almost completely by the end of 2010.
Bringing six European small vehicles to North America from global B-car and C-car platforms.
Retooling three North American truck plants to produce small, fuel efficient vehicles.
Building on vehicle quality that is now on par with Honda and Toyota – and that consistently is being recognized by important third-parties like J.D. Power and Associates’ Initial Quality Study – driven by Ford’s disciplined and standardized processes for every product.
Building on vehicle safety leadership – with the most U.S. government 5-star safety ratings of any auto company and recently moving past Honda for the industry’s most IIHS “Top Safety Picks” – plus new smart safety features, such as the industry-first MyKey technology that limits top speed and audio volume for teens and the first forward crash-avoidance system for mainstream vehicles.
Supporting Ford’s global products with a lean, flexible global manufacturing system.
To support new product investments and offset continued industry weakness, Ford is implementing actions to improve Automotive cash by a total of $14 billion to $17 billion through 2010.
The actions include:
Reducing North American salaried personnel-related costs by an additional 10 percent by the end of January 2009, through personnel reductions, attrition and other actions. The reductions are in addition to personnel-related cost actions already taken in Ford North America and under way in Ford of Europe, Ford Asia Pacific and Africa, and Volvo.
Further reduction of U.S. hourly employees by approximately 2,600 as a result of the most recent round of targeted buyouts – bringing Ford’s total U.S. hourly reductions through buyouts in 2008 to approximately 7,000.
Eliminating merit pay increases for North America salaried employees in 2009.
Eliminating performance bonuses for global salaried employees, including the Annual Incentive Compensation Plan for the 2008 performance year.
Suspending matching funds for U.S. salaried employees participating in Ford’s Savings and Stock Investment Plan, effective Jan. 1, 2009.
Reducing annual capital spending to between $5 billion and $5.5 billion – enabled by efficiencies in Ford’s global product development system and reduced spending in declining product segments.
Reducing engineering, manufacturing, IT and advertising costs through greater global efficiencies.
Reducing inventories globally and achieving other working capital improvements.
Return of capital from Ford Credit to Ford Motor Company consistent with Ford Credit’s plan for a smaller balance sheet and a focus on core Ford brands.
Continuing to develop incremental sources of Automotive funding, including divesting of non-core operations and assets, and implementing equity-for-debt swaps.
Ford’s actions are based on the expectation that the global auto industry downturn will be deeper, broader and longer than was previously assumed. Industry volumes next year are expected to decline compared with 2008 levels. Ford said it will continue to adjust its production in line with the lower demand.
Ford’s 2008 planning assumptions regarding the industry, operating metrics and profit outlook are as follows:
Planning Assumptions
Full-Year Plan
First Nine Months
Full-Year Outlook
Industry Volume (SAAR):
–U.S. (million units)*
16.0
14.4
13.7
–Europe (million units
17.6
17.2
16.7
Operational Metrics
Compared with 2007:
. Quality
Improve
Improved
On Track
Automotive Costs
Improve by about $3 Billion
$3 Billion
About $4 Billion
Absolute Amount:
. U.S. Market Share (Ford Lincoln Mercury)
Low End of 14% - 15% Range
14%
High 13%
. Operating-Related Cash Flow
Negative
$(12.3) Billion
Greater Outflow
than Plan
. Capital Spending
About $6 Billion
$4.

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Lansing car accident has resulted in the death of a 67-year old man.  The accident occurred on December 6, 2008 at the intersection of Pennsylvania and Saginaw when one of the three vehicles involved ran a red light.  The man was taken to Sparrow Hospital, where he passed away on December 7, 2008.  Police are still investigating which car ran the red light.
 
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The family may also be able to file a lawsuit against the driver who ran the red light.  If it is determined that their decedent was free of fault and another driver was negligent, they could sue for damages not compensated by No Fault insurance.  A lawyer could evaluate their case and help them decide if they can sue, and a lawyer could also help file their No Fault claim.
 
For more information about Michigan car accident case, visit our law firm web site at www.BuckfireLaw.com.  If you would like to speak with one of our Michigan car accident attorneys about your case, feel free to call us anytime at (800) 606-1717 or simply submit this contact form and we will get back to you quickly.

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As you plan your holiday gift-giving including family, friends, co-workers and employees during these difficult economic times, consider giving the gifts of travel and gift cards.

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