Quote:
Originally Posted by Finnster
In all fairness, Ford didn't need money as they were in a worse position a few years earlier, brought back Bill Ford, and he helped restructure all their debt back when there was a functioning credit market. Had they not been fortunate in their timing, they would have likely needed gov't assisted funding at that time too.
More importantly IMO, was Ford recognized there was a problem on their own and actually tried to fix it and start making quality and fashionable cars with a more streamlined business plan. GM's bloated bureaucracy just blundered on making midgrade trucks and chitty cars they could only sell under employee pricing schemes at marginal profit hoping the days of $.99 gas and big SUVs would somehow comeback. I dont hate GM, they were a great American company at one time, but I don't see myself buying one any time soon because they still suck.
IDK WTF Chrysler is doing. Flaming piles of crap if there ever was one. The gov't has made worse investments imo, but hard to think of one right now...
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Finn,
You are right that Ford was in a bad spot, but I don't think it was to the extent that GM was and is in. And for me, this is just my opinion, Ford did what they needed to do. They sold off interests in Rover, Jaguar, and Volvo, as well as narrowing their focus to make cars over the years. They made tough decisions, I hated to see them close the F-150 plant in Norfolk VA back in 2007, but they had to do so to be responsible for the long term viability of the company. It doesn't seem like GM is, for instance they still have GMAC, both the credit and mortgage divisions, why not sell them?
Your are right on the timing, credit market then as you pointed out did help. You are on the money that they brought on Bill Ford and revamped their line up.
So I guess for me, considering Ford had their biggest loss ever in 2006 and still pulled it out without taxpayer money is why I get a case of the a$$ over GM being under the government. If Ford did it and made the hard decisions, why isn't the same expected of GM? (<----This is a rhetorical question....everyone has their opinions, not trying to start a political debate)