Originally Posted By: earlyre
Originally Posted By: Jeffs2006EvoIX
Honestly the only Kudos I give Ford is not taking any Bail Out money from the Feds. THAT earned my respect.
Jeff
I wish that mis-information would stop being passed around...
they only reason they didn't take "bail out" Money, is becasue they had just taken a multi billion dollar
loan handout from the feds the month before. and they were/are among the LAST to pay the fed back. IIRC by the time GM had paid back their bail out loans, ford had yet to pay back anything from their loan.
will search for supporting documentation, and post back.
What?
Ford mortgaged the farm prior to the financial collapse. Took out BILLIONS in loans (PRIVATE loans) and even had the actual Ford logo up for collateral. They were not part of the bail-out in any way, shape or form.
What they DID do is, LIKE MANY OTHER MANUFACTURERS take advantage of the "Green Technology" loans that the government was giving out for the development of battery and hybrid vehicles.
THIS HAD NOTHING TO DO WITH THE BAILOUT!!!
And yes, they have not paid it back yet. But they are making their required payments, on-time, and on schedule. Nobody got screwed over through a sham bankruptcy, the tax payers aren't out billions of dollars....etc
I'm not even sure how you've managed to draw the parallels between these loans, that even the Japanese marques took advantage of, and the bailout
Sounds like a pretty biased stance chalked full of agenda to me.