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Ford Posts Biggest Profit Since 1998 but only Thanks to One-Time Gain, Gives $6,200 Bonus to Workers

Piggybacked by a one-time tax gain, Ford Motor Company has posted its highest annual profit since 1998 and the second biggest in the firm's 109-year long history. The Blue Oval's net income for 2011 was US$20.2 billion or US$4.94 per share, an increase of US$13.7 billion, or US$3.28 per share, from a year ago.

However, most of the profit came from a one-time, non-cash special item of US$12.4 billion from eliminating a valuation allowance against the company’s net deferred tax assets.

Ford said that full year pre-tax operating profit was US$8.8 billion, or $1.51 per share, an increase of US$463 million from 2010.

At the 2012 Detroit Auto Show that comes to an end on Sunday, January 22, Lincoln put on display the MKZ Concept to preview both the looks of its soon to be launched mid-size sedan as well the brand's new styling direction.

But FoMoCo isn't the only one to present a design concept for a future Lincoln as the Lawrence Tech University had its own proposal in the form of a quarter-scale model for a pure-electric Continental for 2025.

The study for a luxury sedan model is the work of Lawrence Tech students Colin Bonathan and Jeeho Cha and it was endorsed by the Ford Motor Company.

It all started in the summer of 2011 when Bonathan and Cha came up with plans for a Lincoln concept as part of their undergraduate degree program in transportation design. The university said that Ford officials liked the concept so much that they commissioned the quarter-scale model for display at the Detroit event.