Quote:
Originally Posted by Adam
Just one thing. It's perfectly valid to wonder about the warranty of a GM product because they had to take government money to survive.
Ford has not to this day and claims they do not need to. If that changes, then you can call the comparison invalid, but not until then. Given that things can't get much worse, I assume they won't hit that point.
GM is however, over extended in the marketplace, and GMAC was tied into a lot of bad home mortgage assets. I assume that since their financing arm was cleared to become a bank, and GM got some govt money, that it will be fine.
But I'm pretty sure a lot of you don't know just how close GM was to filing bankruptcy.
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fair enough, do you know why ford doesn't need the money yet?
they financed away alot of the ip (including the rights to the blue oval) months before this...
yes they have cash in reserve, enough to not need government loans but it's only because they've already taken a loan out.
now, we run into the situation of ford needing money and it gets really bad considering they already owe on loans due to that financing.
just some stuff to keep in mind. there's alot more that goes on then what the general public is told on all sides of the equation.