News

Ford Earns $1.6B In 4Q

by Dee-Ann Durbin, AP Auto Writer

DEARBORN, Mich. (AP) -- Ford earned $1.6 billion in the fourth quarter as sales rose in every region outside Europe.

Ford's net income fell from $13.6 billion in the same quarter last year, but that figure included a big accounting-related gain. Without that gain, Ford's earnings were up from $1 billion in the fourth quarter of last year.

Hostess Picks Little Debbie Maker For Drake's

by Candice Choi, AP Food Industry Writer

NEW YORK (AP) — Hostess has picked the maker of Little Debbie as the lead bidder for its Drake's cakes.

According to a filing in U.S. bankruptcy court, McKee Foods has offered $27.5 million in cash for the cake brands, which include Devil Dogs, Funny Bones and Yodels. The fate of Twinkies and other Hostess cakes are still being negotiated with other bidders.