Congratulations are in order!  Ford Motor Company, the only big-three automaker which didn’t accept the deal-with-the-devil bailout, posted a billion dollar profit for the third quarter.  Citing cost cuts and expanding market share, the earnings represent the first time Ford has made money in North America since 2005.

The company has increased its 2011 outlook from “break even” to “solidly profitable,” but remains cautious about 2010.  According to Cheif Exec Alan Mullaly “We’re just not sure about the strength of the recovery.  For right now, we just want to see how this develops.”

Still, It’s a rare bit of good news for Detroit and it’s also what the President would call a ”teachable moment.”  

The lesson?

Generally, the free market will force a company to turn itself around quicker than a massive, taxpayer funded buyout.

- Robert Laurie