The big question is how long they will be able to stay afloat by doing things like selling assets.
Selling Jaguar will get 1.5 Billion but when you are losing 1 Billion per month that only extends the inevitable by 30 to 60 days. There are only so many assets that can be sold and none of them are significant enough to float the company for long at the pace that cash is currently being burned.
Ford says it will return to profitability in 2009 but that is just management trying to hold on to their jobs for 2 more years. If they thought they could have gotten away with saying 2011 they would have said that instead.
GM is profitable now - and growing sales - whereas Ford has turned into some sort of left wing political experiment at the expense of its shareholders. If the company was being run like a company then the company would be making money. Instead it is losing OVER 1 billion per month which is about 35 million per day.
It is hard to lose 35 million per day unless you are trying.
Too many people in management have been picked due to their skin color and/or sex rather than experience and qualifications. The results (facts) speak for themselves with billions in losses and no dividends for shareholders. You are right. New management is sorely needed.