Ok i searched for this for 15min with the search button, i ran into a bunch of different threads, i remember reading somewhere that Ford recieved money previously… basically need some info as to who gave them money why and when because someone i know is trying to rub in my face that Ford didnt need to be bailed out. I also google searched it and went on yahoo answers and all i didnt get specific information i was hopeing to find.
Thx
They mortgaged pretty much all of their assets and took out HUGE bank loans right before the crisis hit, as part of their restructuring, in order to retool their processes and modernize. They happened to have an amazing case of good timing. Most of the major banks are the ones who gave them money, I know at HSBC we gave them a very large chunk.
Yep. Just before the lending dried up Ford went in debt up to their eyeballs. Maybe they saw it coming, maybe it was just good luck.
Thanks too bad the article expired i really wanted to shut his mouth this time. lol i wasnt a member in '06 i had know clue about that thread thanks for the info :tup:
LOL looking back I don’t think my insights were very good, but they probably still suck so :tif:
But yeah, back at the date of that thread Ford used all of their assets as collateral to get enough cash to restructure. Same thing GM & Chrysler are doing now, only Ford managed to do it 2 years before the credit dried up and avoided the whole government takeover thing. :tup:
Does anyone know of a article that i can use as proof.
http://www.washingtonpost.com/wp-dyn/content/article/2006/11/27/AR2006112700263.html
http://findarticles.com/p/articles/mi_qa5352/is_200703/ai_n21284617/
Here was the beginning. They ended up borrowing from a lot more creditors.
Thanks, exactly what i needed to shut his mouth, i mean every car company was hurting and luckily ford had borrowed previously. they borrowed 18billion?
EDIT: All i need now is a motivational poster about all this 
Yes. Ford got 18 billion privately. GM, being bigger, got 22.5 billion from the gov’t.
Now he says, Ford = loans which can be repaid, but GM = Bankruptcy which is forever… he’s all exicted about the new SHO and the New Mustang Motor supposedly coming out 2011 so he thinks ford is god because they didnt need to be bailed out…
lol wat?
GM is already out of bankruptcy. The government has an ownership stake in them, but the banks have liens on Ford. 6 of 1, half a dozen of another.
Getting free money vs. getting loans? Saying that GM and Ford are equal is like me saying momma’s boy who got a new car on his 16th birthday is the same as you financing one. Ford did the right thing, GM just kept riding those coat tails until we gave them all of our money.
Ford gets my respect, GM however, does not.
Link doesn’t work.
edit n/m it made me log in again…?
Free money? GM got loans as well, and in turn had to give up an ownership stake until they are paid back. :bloated:
You know that the only reason Ford did this is because they were even worse off than GM and ran out of money sooner, right? They just happened to do it at the right time.
P.S.: GM still has debt - it didn’t get rid of all of it. It’s just divested itself of alot of the worst of it, plus some leftover assets (which with its poor sales have become liabilities).
:bigclap:
Exactly!
Ford > GM 'nuff said
Ford got $5.9 billion from the US government to retool factories.
http://www.nyspeed.com/forums/showthread.php?t=72491
They also took loans from the EU and offered stock