Originally Posted by DrivingMissDD
You'll notice that because Ford didn't hold out THEIR hands for a 'bailout' that their profits are for real and they can do whatever they want without 'government approval'.
I'll bet the other 'big two' are experiencing 'bailout remorse',.......at least those that are left that gives a rats azz about brand/country loyalty...... :roll: :roll: :roll: :roll: :roll:
ironicly, what ended up saving Ford , was sort of what happened to Chrysler, EXCEPT, instead of corporate raiders pocketing the cash, Ford kept it for the company.
What Mullaly did, was leverage all the corporate assets to raise cash, he borrowed as much as they could get, raising enough cash, while the banks were still lending, to weather the storm. This was done before they cut off all lending. Brilliant.
Understand Ford was slipping into the abyss all by itself, before the great recession. Their stock was worthless. But the master stroke was borrowing all the cash BEFORE some hedge fund took it over & did the same, but filling their own pockets instead of the companies.
Chrysler at the time of the Benz merger of equals
(equal scumbags CEO's that is) was in much better shape than Ford,The 300 was the car to have & sales of everything was great. The difference is the equity was stripped by outsiders for themselves, not the company itself. Chrysler had no chance without a bailout, they were left with massive debt & had nothing to sell but trucks. Its a shame how we let that happen.
I work in the financial world for the last 30 years, if you think this behavior has been corrected, you are sadly mistaken.
While the banking & Wallstreet Giants keep the masses occupied with petty infighting, The ROBBER BARONS that created this mess are cleaning up the spoils with hardly a regulation passed to stop this from happening again. Believe me when I tell you, they are raking in the cash while the rest of eat S#$%.
Ill get off the soapbox now. Back to finishing my valve job!