Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

EVERBANK GIVES SUPPORT FOR TWO HABIJAX HOMES

Everbank, a Jacksonville-based financial services company, donated $115,000 to HabiJax Thursday. The donation ensures the construction of two new Habijax homes to be completed later this year. Everbank's donations have helped build 25 Habijax homes since 1995, including the first HabiJax home in the McNair Park community, which will be dedicated May 12.

Diana Middleton/The Times-Union

FORD POSTS A $1.2 BILLION LOSS IN FIRST QUARTER

Ford Motor Co. swung to a $1.2 billion loss in the first quarter as it began a costly restructuring effort amid weak U.S. sales, leaving Ford executives disappointed but determined to go ahead with their plan to cut 30,000 jobs and remake the No. 2 automaker.

"This transformation isn't going to be quick and it isn't going to be painless," Ford Chairman and Chief Executive Bill Ford said in a statement.

Investors weren't so sure. In afternoon trading, Ford's stock fell 58 cents, or 7.3 percent, to $7.37 on the New York Stock Exchange, approaching its 52-week low of $7.13.

The loss of 64 cents per share for the January-March period compares with a profit of $1.2 billion, or 60 cents per share, a year earlier. Sales fell 9 percent to $41.1 billion from $45.1 billion a year ago. It was Ford's worst quarterly performance since the fourth quarter of 2001, when the company posted a $5.07 billion loss due to $4.1 billion in costs for a previous restructuring plan.

Associated Press

OIL HITS RECORD, SUPPLY CONCERNS HEIGHTENED

Crude oil rose to a record $75.35 a barrel in New York on concern that shipments from Iran and Nigeria will be disrupted as the U.S. increases output of gasoline for the summer driving season.

The dispute over Iran's nuclear program has intensified, increasing the chances of sanctions against the world's fourth- biggest oil producer. …

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