Ford Bails Out Of Auto Industry Bailout Deal-Brilliant Tactic

12-20-08

The Bush administration said it would provide a total of $17.4 billion in loans for GM and Chrysler. As part of the bailout, GM and Chrysler will have to open their books to the government and meet restructuring targets such as reducing their debt and hammering out deals with the United Auto Workers to cut labor costs.

Ford gets to keep their books closed and away from the government nitwits and in the end will certainly benefit from the deals and concessions made with union workers and parts suppliers as a result of GM and Chrysler opting to receive taxpayer money “to save their businesses.” In addition the company secures a 9 billion dollar line of credit through the government at a much lower interest rate than they could ever get “on the outside” but feel confident they may not have to tap into that option. Smart move Ford and damn fine video.

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