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The Water Cooler
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Tahoe or 4Runner?
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<blockquote data-quote="SoonerP226" data-source="post: 3206744" data-attributes="member: 26737"><p>Alan Mulally didn't go to DC to ask for money for Ford; Ford had already secured private loans, and didn't need Uncle Sugar to keep from failing. He went to DC to support the other two CEOs because there was a very real fear that GM going under would've taken out a huge chunk of the supplier base, which would've killed all vehicle manufacturing in the US for years. By that time, the credit markets were basically frozen, and private lending was no longer an option for GM and Chrysler.</p><p></p><p>Saying that Ford took the bailout money is the real disingenuous statement. What they took from the gov't was a Dep't Of Energy loan to retool plants to meet gov't mandates, and that loan has long since been repaid. And Ford wasn't the only company to take those loans.</p></blockquote><p></p>
[QUOTE="SoonerP226, post: 3206744, member: 26737"] Alan Mulally didn't go to DC to ask for money for Ford; Ford had already secured private loans, and didn't need Uncle Sugar to keep from failing. He went to DC to support the other two CEOs because there was a very real fear that GM going under would've taken out a huge chunk of the supplier base, which would've killed all vehicle manufacturing in the US for years. By that time, the credit markets were basically frozen, and private lending was no longer an option for GM and Chrysler. Saying that Ford took the bailout money is the real disingenuous statement. What they took from the gov't was a Dep't Of Energy loan to retool plants to meet gov't mandates, and that loan has long since been repaid. And Ford wasn't the only company to take those loans. [/QUOTE]
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