Ford Exec: No Thanks, Uncle Sam

[Terry Britton]

For discusion:

(CNN) -- Ford is the only major U.S. carmaker that is getting by without U.S. taxpayer money
http://www.cnn.com/2009/US/03/31/fie...ref=newssearch

Ford actually moved over a year ago to sell off business units that were not selling. This is how free capitalism is suposed to work. If the business idea is dumb, don't do it, change it, or get rid of it as the market changes.

[junfan68]

Sad part of it is that Ford will actually be in worse position a year from now than they are today.

Poor SOB's are gonna have to try and compete with GM and Chrysler after they have restructured through bankruptcy. "Restructuring through bankruptcy" is a nice way of saying they will slash their cost structure by hammering the bondholders, unions (through lower legacy pension & healthcare benefits along with lower wages going forward...which I applaud, by the way), suppliers etc.

Ford will now try and compete with a cost structure that is 30% above these other clowns.

That's what you get for managing your business properly. Kind of like these other people getting their mortgages forgiven while those of us who pay our bills will get to stare at the same old loan balance on our homes.

[Terry Britton]

Sad part of it is that Ford will actually be in worse position a year from now than they are today.

Poor SOB's are gonna have to try and compete with GM and Chrysler after they have restructured through bankruptcy. "Restructuring through bankruptcy" is a nice way of saying they will slash their cost structure by hammering the bondholders, unions (through lower legacy pension & healthcare benefits along with lower wages going forward...which I applaud, by the way), suppliers etc.

Ford will now try and compete with a cost structure that is 30% above these other clowns.

That's what you get for managing your business properly. Kind of like these other people getting their mortgages forgiven while those of us who pay our bills will get to stare at the same old loan balance on our homes.

GM and Chrysler are not going into bankruptcy yet. They should have so our tax dollars would stay out of the way of hammering the unions for their money grab. The UAW does not want any of these companies in bankruptcy because their contracts would then be void. But with the Govt. handout, Ford will be competing against the unfair advantage that GM and Chrysler has, and will be punished for shoring up their balance sheet. They have a slight chance of turning things around in 2010 if the economy starts back.

Our govt. did not get in the way of Worldcom going bankrupt, and the strong parts of the company remained, and rose out of the ashes. I hate to see my tax dollars bailing out companies so their execs and unions that didn't make the tough decisions for long term strength are being rewarded for failing.