Ford loses $2.7 billion in 2007

Ford Motor Co. today reported a net loss of $2.7 billion, or $1.35 a share, for 2007— a substantial improvement from the record $12.6 billion, or $6.72 per share, loss in 2006. The improvement was made as worldwide revenues improved to $173.9 billion, compared with $160.1 billion in 2006, and the automaker intensified cost-cutting, primarily in North America. The automaker has been executing a plan to close 10 factories and eliminate more than 40,000 jobs, among other efforts.