Quote:
Originally Posted by Lakesrider
During the Bail out time period, Ford had arranged for a 9 Billion dollar line of credit should the economy falter more. They also received 5.9 billion to retool factories via Gov't loans. In it's 2008 letter to Congress it stated that it would be initiating a $14 billion plan to produce more energy efficient vehicles. $5.9 Billion of that coming from Government loans. So indeed they did receive assistance from the Gov't. Just not under what is called a bailout or bridge loan.
Ford also lobbied hard for the Cash for clunkers and the Bailouts to Chrysler and GM as Ford would have also been hurt through supplier overlap which would be hurt if the bailouts did not happen.
So Bailout (bridge loan) no....But they didn't get nothing out of the Gov't during this time frame.  And let's not forget that these "Bailouts are simply loans. Not free money. Everything is due to be paid back. Sorry. I just can't stand it when I hear people say that they won't buy a car from a Bailed out company. Don't kid yourselves. Ford got bailed out too.
Maybe we shouldn't buy a house from someone that got Federal mortgage assistance either? Hmmmmm....... |
Interesting Lakesrider. I heard your surgery went well, looking forward to seeing you post again. The public perception is that Ford received no bailout. Wonder why the anti-business crowd haven't tried to tell the story. I hadn't heard of your version till now.