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and they didn't have to bailed out by obama to do it.
Wrong again, genius.Fact is, it was Barry's 5.9 billion dollar loan for developing fuel-efficient technology that made it all possible.
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In fact, Ford chief executive Alan Mulally sat shoulder to shoulder with GM and Chrysler when they asked Congress for government help so that a collapse of the companies and their suppliers wouldn’t take down the entire industry. Now the gloves are off.
But wait a minute. OK, Ford didn’t file bankruptcy or get bailed out by Uncle Sam, but didn’t it receive $5.9 billion in low-cost government loans in 2009 to overhaul its factories and bring out more fuel-efficient technology? What would have happened to Ford if Congress hadn’t authorized taxpayer money to fund that $25 billion Energy Department program during a moment of crisis for the industry?
It’s hard to say, of course, but the fact is, with the aid of that taxpayer loan and a well-timed bank loan of $23 billion, Ford managed to tiptoe past the graveyard and avoid bankruptcy. Since then, it has run its business well and reduced its debt from $33.6 billion to $12.2 billion.
http://www.forbes.com/sites/joannmuller ... ommercial/It's really a shame that low information, clueless cons like mr grape don't know WTF they're blabbing about.
Bottom line:
Despite the anti labor GOP scumbags in congress, Obama saved the US auto industry.