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Ford Does Not Need Government Bailout

 
1,192 views Jan 25, 2009

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Ford Motor Company does not need a government bailout to survive this recession, says CEO Alan Mulally. "We don't want to borrow any more money. We have sufficient liquidity to fund our transformation plan, which means our business is in a relatively good shape," said Mulally at the National Automobile Dealers Association convention.

General Motors and Chrysler have secured $17.4 billion in loans from the U.S. government to avoid bankruptcy. Ford secured a $23 billion private equity loan in 2006 that fills the need for any government money at this time. This strategy is based on projections that include a sales rebound in the second half of 2009 which will allow Ford to reach U.S. sales targets of 12 million to 12.5 million units.
Source: Reuters





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Comments (2)

  1. By old man Posted: 1/25/2009 11:23pm PST

    I hope Ford can survive without any Fed. $. And I especially hope the U.A.W. don't use Ford to prove they don't have to give anything for GM to also survive. I think that the UAW in time will also bring Ford down. Nobody can compete with such legacey cost added to their product sales price.
     
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  2. By  from the USA Posted: 1/26/2009 1:12pm PST

    I am glad to see there is one domestic Auto Company that stands up to this dire situation. This company should be congratulated in the way it managed its business, and the way it will move forward without bailouts. Not only that - why should we not support capatalism and buy from the "survival of the fittest" Auto maker?
     
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