Big-3 Bailout 'Ad'
Posted: Thu Aug 12, 2010 11:54 pm
The forum for all aspects of the Nissan Leaf
Hold carmaker executives' feet to the fire, but let's not hold them to a higher standard than Wall Street investment banks, insurance companies and mortgage lenders, who got 20 times the $34 billion Detroit is asking for. And remember, the jobs we're saving are on Main Street, not Wall Street.
Ford just got lucky.hodad66 wrote:Ford's strength was in the fact that they had more "cash on hand"
and that they didn't get into the "loan mess" that GMAC did but
stuck to their auto loans.
A prescient Mulally soon after his arrival bolstered Ford's treasury with a stunning $23.4 billion (U.S.) in fresh borrowings and lines of credit in late 2006. The move was questioned at the time because Ford was required to put in hock just about all of its assets, even its hallowed "Blue Oval" trademark.
Lucky with the timing. Mullally was actually quoted as saying that himself ...AndyH wrote:I'm not sure I'd label a leader that can see the truth and take the proper action as 'lucky' - unless we use the "luck is when preparation meets opportunity" definition.