Ford Says It Doesn't Need Bailout

[Shiver]

Kimberly S. Johnson and Tom Krishner
Ford Bailout Money Unnecessary, Company Says
December 10th, 2008

DEARBORN, Mich. — By shunning government loans, Ford Motor Co.'s top executives say they hope to buff up the automaker's image and set it apart from its cash-starved Detroit competitors, General Motors Corp. and Chrysler LLC.

GM and Chrysler are in desperate need of government money and may not last until the end of the year without it. But Ford set up $23.5 billion worth of credit in 2006, and both Chief Executive Alan Mulally and Executive Chairman Bill Ford Jr. told The Associated Press on Tuesday they are confident that the borrowing, coupled with restructuring and new product plans, will get them through the recession without relying on the government.

Ford even said the century-old company that bears his family's name might be able to use the independence from loans to its advantage.

"I think if they see Ford as a company trying to pull itself up by its own bootstraps, and making it on its own and pulling the right levers, I think that could be a positive for us," Ford said.

*snippy-snip*

Full article at Huffington Post

[Jester Messiah]

1. Good for Ford!

Heaping more money on the situation isn't going to address the fundamentals that brought this situation to pass.

[riqster]

2. Ford has actually been working on restructuring for 3 years now nt

[notadmblnd]

3. it's not a bailout.... it's not a bailout.... IT'S NOT A BAILOUT

No one is giving away anything and the automakers are not asking for a handout unlike the banks. Please understand, there is a difference. The reason the automakers need the LOAN is because the banks have frozen the lines of credit normally available to them. The m-f'ing bankers reneged and didn't do what they said they were going to do with all the money they got from their bailout. Where was the outcry to shut them all down?

The ignorance about this being a handout is really getting on my nerves.

[Shiver]

4. I didn't write the article.

I'm only using the language in the piece. To do otherwise would be immoral.

I know full well it's a loan. :hi:

[RB TexLa]

6. They would not be able to get loans of this amount with their current credit ratings under any

market conditions. It is a loan, but it's the government bailing them out with a loan.

[Freddie Stubbs]

10. The banks won't loan them money because they are a poor credit risk

[JVS]

5. Woohoo. Good job Ford.

[Warpy]

7. Good for them. Now if they'll only start adverising the Focus

so that people here know they make a good small car and if they'll only consider importing European standard models to the US they'll be unstoppable.

Like it or not, their trucks are the standard for working vehicles. My old Ranger was underpowered but indestructible. It was old enough to vote when I retired it.

They might be the one company that is healthy enough to survive.

[PVnRT]

8. Good, provided that this doesn't mean massive layoffs...

[Shiver]

12. Oh, hell, I hope it doesn't...

That thought never even occurred to me. :argh:

[sofa king]

9. Well now, that's nice to hear.

Now, if you'd consider selling those spritely little Fiestas I drove in Ireland, I'd consider driving again.

http://www.youtube.com/watch?v=FcJ1e38wcNs

[madrchsod]

11. ford has the money and the product line

to compete with anything the japanese can throw at them. safest medium sized sedan in the usa....ford.


fords sedans are as good and some cases better than toyota and honda. the ford taurus/500 is assembled on the south side of chicago.