Ford looks to bail itself out

citizen wrote:

Put any kind of spin on it you want to try and praise Obama, but facts are facts.
This was taken from the article:
"Ford's cars are winning popular and critical acclaim, like the Fusion midsize sedan and more gas-efficient Focus compact. And years of painful cost-cutting, which have halved its work force, have looked prophetic since the recession struck, hurting demand. "
"Just last week, Consumer Reports magazine named 46 of 51 Ford, Lincoln or Mercury models as average or better in reliability, a far better track record than either GM or Chrysler."

here is why wrote:

Here's why:
1. the other 2 auto companies- Chrysler and GM, to avoid going bankrupt accepted Stimulus money.
2. that left only 1 US company to buy from-Ford, since no one would trust buying a $25K car from a company on the brink of bankruptcy.
3. Stimulus money- Cash for Clunker credits from Obama made the buy decision with Ford easier.
So bailout funds kept GM and Chrysler alive , and the Clunkers program caused sales to be diverted to Ford that would normally go else where. Thank you, President Obama.
Without govt intervention the whole auto industry would have disappeared.
Who screwed up? the private auto sector sticking with the gas gusslers. Who came to the rescue? the Government.
Everyone employed at Ford should thank Obama. thank you again, president obama.
Under the Republicans the whole auto industry would have went away.

here is why wrote:

Here's why:
1. the other 2 auto companies- Chrysler and GM, to avoid going bankrupt accepted Stimulus money.
2. that left only 1 US company to buy from-Ford, since no one would trust buying a $25K car from a company on the brink of bankruptcy.
3. Stimulus money- Cash for Clunker credits from Obama made the buy decision with Ford easier.
So bailout funds kept GM and Chrysler alive , and the Clunkers program caused sales to be diverted to Ford that would normally go else where. Thank you, President Obama.
Without govt intervention the whole auto industry would have disappeared.
Who screwed up? the private auto sector sticking with the gas gusslers. Who came to the rescue? the Government.
Everyone employed at Ford should thank Obama. thank you again, president obama.
Under the Republicans the whole auto industry would have went away.

Interested Observer wrote:

<quoted text>
They wouldn't have gone away--they would have reorganized and cancelled their unaffordable union contracts and golden parachutes. Could have come out of it stronger. And at $24,000 for every extra car sold, I don't think we should be bragging about "Cash for Clunkers", do you? Besides it just took sales away from the rest of this year. And most of the sales went o Toyota and Honda and Nissan. If anyone should thank Obama it is them.

Wondering wrote:

<quoted text>
I'm not sticking up for Obama, there is much he's done that I'm opposed to. That said, the car company bailouts started under the previous administration. He was responsible for the cash for clunkers program and that was a dumb move in my opinion. Same with the banks and other financial institutions, started under Bush but furthered under Obama. The banks are a classic situation.
Banks are paying almost no interest on CD's and savings but they are raising fees on credit cards and loans. They've gotten billions of our dollars and they treat us like crap. It would have done some good to let a couple of these too big to fail banks go ahead and fail.

Interested Observer wrote:

<quoted text>
I was afraid to let the biggest banks fail for fear of a death spiral. But today, I would let them go as they are with CIT. The auto bailout and TARP are bi partisan programs. Neither should make us proud, but I think a lot of the TARP money will come back as the economy recovers. I am not so sure about the auto money because I don't know too many people who will buy a GM or Chrysler.
As you know my bigger problems with Obama are health care, cap and trade, check card and the Fairness doctrine. I don't think we got our money's worht on the stimulus plan nor Cash for Clunkers nor the housing $8000 thing although my son and his teacher wife just are closing on a house in Tyngsboro to get the $8000. But they would have bought in the next year anyway. I do agree that we can't put a final grade on Obama and the economy yet but it doesn't look good so far.