Ford Announces A $123 Million Dollar Loss For Q2

Ford stock F was down 2% today on word that they would have a $123 Million dollar loss in Q2 2006. Ford's dependance on SUV's hurt the auto maker as sales of high end SUV's slowed with rising gas prices. As if high gas prices weren't bad enough. Ford's sales are 70% SUV's and have faced steep competetition from foreign auto makers. Ford has been attempting to remake its structure and corporate culture. Going forward Ford will continue to cut jobs and close operations in an effort to streamline and cut costs.