Ford was bailed out?
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Ford was bailed out?
Was online checking out the Ford commercial that promotes that Ford stood on its own without Govt. taxpayer monies.......read the links below.....thats not even the half of it.....
Forgive me if this is really old news, I just found out about this today.
Ford to Get $5.9 Billion From Feds to Retool; Tesla, Nissan Also Get Aid - WOT on Motor Trend
Ford was bailed out by the Fed after all « Spellchek
Definitely no way around it, Ford got govt. monies to keep on going!
Forgive me if this is really old news, I just found out about this today.
Ford to Get $5.9 Billion From Feds to Retool; Tesla, Nissan Also Get Aid - WOT on Motor Trend
Ford was bailed out by the Fed after all « Spellchek
Definitely no way around it, Ford got govt. monies to keep on going!
Postmaster
Joined: Nov 2006
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From: SE Wyoming
IIRC this was for the mandatory regulations the gvt. put in place for "green" vehicles, it was not from Ford going to congress and begging for money. Also a far cry from taking the fed money and screwing your shareholders out of their investments. They took the money after it was made available because the morons in congress think they can just change the CAFE ratings whenever they want with no repercussions at the auto companies. This had nothing to do with the TARP money that was handed out to GM, Chrysler and I believe some Euro companies as well.
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The '09 loan to develope stuff--shouldn't happen, but not a "bail out".
The money to the credit arm of Ford--If FMCC works the same way it did when I worked for HFC, they have all kinds of money out in loans, much of in real estate 2nd mortgaged, helocs & maybe even firsts. Again, shouldn't happen, but not a bail out of the auto making part of Ford. (or the others, if that's the structure of it with them)
You can be PO'd about all this stuff the rest of your life and it won't make any difference. It's done.
What the future holds, now that is something to spend time and effort on, and not just blowing gas on this site. You want change? Go get involved and commit your time and energy to what you want to see happen or who will do it for you.
Serving suggesting, ymmv.....
The money to the credit arm of Ford--If FMCC works the same way it did when I worked for HFC, they have all kinds of money out in loans, much of in real estate 2nd mortgaged, helocs & maybe even firsts. Again, shouldn't happen, but not a bail out of the auto making part of Ford. (or the others, if that's the structure of it with them)
You can be PO'd about all this stuff the rest of your life and it won't make any difference. It's done.
What the future holds, now that is something to spend time and effort on, and not just blowing gas on this site. You want change? Go get involved and commit your time and energy to what you want to see happen or who will do it for you.
Serving suggesting, ymmv.....
9 ECHO 1
Joined: Aug 2009
Posts: 12,467
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From: Missouri
FoMoCo was not given any money. Ford Credit was given money. They are different companies. Ford Credit is a bank. They are the bank you get a loan from when you buy a new truck financed through the dealership.
So Ford Motor Company didnt get an bailout money, but their daughter company did. It wasnt part of the automotive bailout, but part of a stimulus plan to keep banks afloat. The government realized if Ford Credit went down, so would Ford.
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Lead Driver
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They all got loans. GM and Chrysler got TARP money. Lots of it. GM "paid back" the loans with some of the TARP money.
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