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.
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.http://www.forbes.com/sites/joannmuller ... ommercial/
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.
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.