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Ford Reports Major Losses

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Ford Reports Major Losses

Ford Reports Major Losses

Ford Reports Major Losses

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Ford Motor Co. reports a loss of $5.8 billion for the latest quarter, as sales of trucks continued to decline. The company says money spent on employee buyouts also contributed to the losses. The damage for all of 2006 was a record loss of $12.7 billion.

STEVE INSKEEP, host:

Who knew they could break this record again? But there's been a record loss at Ford.

(Soundbite of music)

INSKEEP: The nation's number two automaker is reporting a big loss for the fourth quarter, as sales of trucks continue to decline and employee buyouts cost the company money. So the damage for all of 2006 was a record $12.7 billion. The company says it doesn't expect to see an improvement any time soon.

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