Ford Owes the Government $5.9 Billion!

[Blue Maro Demon]

I find this very amusing because alot of the Ford fans always say Government Motors to GM yet only Ford owes money to the Government not GM or Chrystler. Ford borrowed money the same time that they did.

http://www.forbes.com/sites/joannmul...-surprise-you/

[C5RocksC5]

and this affects you in any way?

[KXRM]

Ford owes the money for a government program to build EV's, not to bail them out of a financial crisis. Two very different things.

[8cd03gro]

Originally Posted by Blue Maro Demon

I find this very amusing because alot of the Ford fans always say Government Motors to GM yet only Ford owes money to the Government not GM or Chrystler. Ford borrowed money the same time that they did.

http://www.forbes.com/sites/joannmul...-surprise-you/

This is because Ford took a loan while GM went bankrupt and exchanged equity in the newly restructured GM for funds to hold onto their assets and continue on. Ford has the cash flow to pay these loans back on time, no problem. GM is still 26% (IIRC) government owned and there is not a chance in hell share prices are going to get high enough to recover the cash poured into GM. Price per share of GM common stock would half to nearly triple and hold that high while the government sells to recover the total.

[imstillhere]

thread backfire

[Apex Motorsports]

This business will get out of control. It will get out of control and we'll be lucky to live through it.

[Blue Maro Demon]

Originally Posted by imstillhere

thread backfire

It didnt backfire on me I read the article the same as everyone else did. Of course its for electric vehicles BUT if Ford wasnt handed this then they wouldnt be as well off as they are now it doesnt take a rocket scientist to figure that out. People commenting on this on Facebook have been fast to point out the same thing. Ford wouldnt be where they are now without this extra money they likely would have been in just as bad shape as well. Taking money is taking money doesnt matter what the situation all three American automakers took Govt money so there is no need or reason to point to a certain company when someone is talking performance cars bringing up things like this is a major facepalm-

[DaBears]

Originally Posted by KXRM

Ford owes the money for a government program to build EV's, not to bail them out of a financial crisis. Two very different things.

This

[Blue Maro Demon]

Originally Posted by pdari

and this affects you in any way?

It doesnt affect me im just posting this is the General Auto board which means you can talk about anything having to do with ANY automaker which I am doing. I'm just posting some auto news that hasnt been posted here yet thats all no need to take it personal.

[DaBears]

Originally Posted by Apex Chase

This business will get out of control. It will get out of control and we'll be lucky to live through it.

LOL What movie is that from?

[DaBears]

Fail

[toesuf94]

Originally Posted by DaBears

LOL What movie is that from?

Red October

[DaBears]

Originally Posted by toesuf94

Red October

LOL nice. I knew that I knew it from somewhere

[Sax1031]

GM and Chrysler owe the tax payer a hell of a lot.