Thursday May 24, 2012

JAPAN NEWS AND DISCUSSION

Ford posts $14.6 bil loss, still won't seek aid

Business Jan. 30, 2009 - 04:49AM JST ( 5 )

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5 Comments

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wanderlustJan. 30, 2009 - 09:31AM JST

Have to give them credit (sic!), at least they are trying to get themselves out of the mess, unlike the banks...
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techallJan. 30, 2009 - 09:35AM JST

Way to go Ford, set an example. "You guys want some taxpayer money?" "Nah, we're good."
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mrgalacticJan. 30, 2009 - 11:23AM JST

Yo Ford...　way to nut up ! Seems that they may have been taking better care of their finances than others around the world thought. Class operation, lets hope Obama rewards them by protecting their markets against parasitic foreign makers that have essentially targetted the US for the past 20 years with no regard to the American worker. And yes, they know who they are.
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bebertJan. 30, 2009 - 12:56PM JST

Have to give them credit (sic!), at least they are trying to get themselves out of the mess, unlike the banks...

Don't be so naive. This is all about the Ford family maintaining control of the company and turning the dividend spigot back on for the family members. They own about 2% of the stock, but get over 40% of the voting shares. Do you think the Democrats would continue to let 2% owners run the company? And the dividend issue is a big factor. Very likely, any company that takes Federal money (GM, Citigroup, etc.) won't be allowed to start paying dividend again for several years or until the loans are paid back. If Ford were to take $9 billion, it would take at least five years to make that money back -should they ever get profitable. The family can't wait that long.

Nothing noble here. It is smart on the part of the Ford's to not get snared in the government's web, but it is not noble. Rather than protecting jobs or running the business with more liquidity, they'll abstain from taking loans, let GM suffer all of the government requirements. Then Ford will reap all of the same union concessions that GM gets out of its Faustian bargain.
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unscrejectsJan. 30, 2009 - 11:47PM JST

Mark Fields is your problem Ford. Get rid of him now and audit every area he's worked in - count the losses and you'll see that he accounts for the lions share of your hole.