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What does Ford's quarterly profit of $2.3 billion mean for Michigan?

It's been a long time since I've seen the words Ford Motor Co. and profit go-together in a Detroit Free Press story and that's why I was surprised this morning.

The story says that Ford had a quarterly profit of $2.3 million in the quarter that ended June 30. Its balance sheet was positively affected by one time gains from debt restructuring.

So what does this mean? Is Ford better managed than General Motors and Chrysler? Is it because they didn't take a government bailout?

Is it time to get out the good coffee in the morning and celebrate a little?


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