Recall, product launch costs slash Ford third-quarter profit

By Bernie Woodall and Joseph White DETROIT (Reuters) - Ford Motor Co reported a more than 50 percent drop in third-quarter net income on Thursday, saying its North American business suffered from lower sales, higher recall costs and a complicated introduction of a new pickup truck. The profit exceeded Wall Street expectations, however. Excluding one-time items, Ford said earnings were 26 cents a share, beating the analysts' average estimate of 20 cents compiled by Thomson Reuters I/B/E/S. Third