Ford not taking any handouts, but is it in the clear?

Business | 206824 hits | Jun 03 7:14 am | Posted by: Robair

The family-run company mortgaged all its assets -- and sold what it could not or did not mortgage -- to pile up a giant cash horde. That money is being used to reinvent the company without the aid of Barack Obama and Stephen Harper, on behalf of you and I

Comments

by stemmer
Wed Jun 03, 2009 5:49 pm
Is Ford the only car company in the world not getting government assistance? Good for them...!!!!
by QBall
Wed Jun 03, 2009 6:07 pm
They had to sell a huge percentage of their assets to keep them going without government assistance, however their sales numbers are strong so far this year (not as good as previous years, however in this economy no one should be complaining). I wouldn't be surprised if Ford takes over the #2 spot, at least in North America.
by poquas
Wed Jun 03, 2009 6:12 pm
As stated in the article, Ford's competition has just had their debt wiped out. Ford will be unable to compete in the future. They'll have no choice but to obtain government money in the long term, and as mentioned in the article, you can bet any body part you like that they’re looking for cash now.

If I remember correctly, did Ford Canada not receive a cash infusion at the beginning of Harpers first term for one of their factories?
by Public_Domain
Wed Jun 03, 2009 7:13 pm

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WDHIII Wed Jun 03, 2009 6:18 am

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