Ford Blows $1.4 Billion

Ford has announced $1.4 billion in first quarter losses--down from a net income of $70 million in 2008. But surprise! The announcement beat expectations. "Our results in the first quarter reflected the extremely difficult business environment and weak demand for autos around the world," CEO Alan Mulally said. Analysts had predicted a loss of $1.23 a share, but Ford posted only 60 cents a share in losses.