Ford Motor Co. reported profits of nearly $1 billion in the third quarter, after piling up $30 billion in losses between 2006 and 2008. Ford even posted its first profitable quarter since 2005 in its struggling North America division -- after cutting costs by closing more than 10 plants and slashing 45 percent of its workforce in the region since 2005. Did declining federal bailout money help Ford win customers from GM and Chrysler?
Because capitalism works, and socialism doesn't: The secret to Ford's success is no mystery, says Don Surber in the Charleston, W.V., Daily Mail. Ford is the only Detroit automaker that turned down government aid and bankruptcy protection. The lesson here is that capitalism works; socialism doesn't.
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