Ford posts $1.4 billion 1Q loss, uses less cash

DEARBORN, Mich. – Ford Motor Co. reported a first-quarter loss of $1.4 billion Friday and said it used less of its cash, emphasizing that it doesn’t expect to seek any of the government assistance that is keeping the rest of the Detroit Three alive. The nation’s second-largest automaker said it spent $3.7 billion more than it took in during the first three months of the year, far less than the $7.2 billion it spent in the fourth quarter of 2008. Ford shares climbed 76 cents, or 17 percent, to $5.25 in morning trading. Chief Financial Officer Lewis Booth said the company is confident that it…

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