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(Fox Business)   After taking bailout money in the billions, Ford has finally turned the company around and is ready to double its quarterly dividend...Wait a minute, What? Ford did not take the bailout money and turned the company around on its own?   (foxbusiness.com) divider line 113
    More: Hero, dividends, rescues, payable  
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6647 clicks; posted to Main » on 11 Jan 2013 at 9:07 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-11 08:21:42 AM  
You say that like there's something wrong with it, subtard.

//Fords still suck
 
2013-01-11 08:24:28 AM  
I guess a $5.9 billion government loan doesn't qualify as a bailout.
 
2013-01-11 08:28:53 AM  

Dinki: I guess a $5.9 billion government loan doesn't qualify as a bailout.


This.  And they were right there with GM and Chrysler in Washington, because Ford understood that if one of the other two went under, its supplier network would be toast.
 
2013-01-11 08:33:13 AM  
About that Subby...

/Go ahead and keep surrounding yourself with the facts that reinforce your worldview.
 
2013-01-11 08:50:47 AM  

Bladel: This. And they were right there with GM and Chrysler in Washington, because Ford understood that if one of the other two went under, its supplier network would be toast.


This.
 
2013-01-11 08:54:56 AM  
So they're gonna sue Uncle Sam right?
 
2013-01-11 09:09:08 AM  

Bladel: Dinki: I guess a $5.9 billion government loan doesn't qualify as a bailout.

This.  And they were right there with GM and Chrysler in Washington, because Ford understood that if one of the other two went under, its supplier network would be toast.


qft
 
2013-01-11 09:09:20 AM  
Not news to me

/still have yet like fords enough to buy one
//maybe when the Leafs win the cup?
 
2013-01-11 09:10:38 AM  
If only management could have raided the pension fund to pay themselves bonuses before letting the company collapse under a mountain of self-inflicted debt, screwing the workers' futures. Then Fox Business and the rest of the GOP would really call them heroes.
 
2013-01-11 09:10:40 AM  
incredibly trolltastic headline subby
 
2013-01-11 09:11:09 AM  
You can pry my Honda from my cold dead hands.
 
2013-01-11 09:11:11 AM  
Dinki


I guess a $5.9 billion government loan doesn't qualify as a bailout.



That wasn't part of a bailout.....Ford wasn't on the verge of bankruptcy at the time. The government offered lows interest loans to help auto manufacturers meet new fuel-efficiency standards that was put in place. The money was to help manufacturers develop fuel-efficient vehicles.
 
2013-01-11 09:11:49 AM  
Hey Subby, I found this tooth on the floor. Pretty sure it belongs to you.
 
2013-01-11 09:12:14 AM  
Is this the same Ford that just happened to get their credit squared away before the market evaporated? The one that makes automobiles? So let's not go patting each other on the balls for the success of capitalism just yet.
 
2013-01-11 09:12:27 AM  

Bladel: Dinki: I guess a $5.9 billion government loan doesn't qualify as a bailout.

This.  And they were right there with GM and Chrysler in Washington, because Ford understood that if one of the other two went under, its supplier network would be toast.


All of this.
And, completely giving up on your US design team and simply using your own Euro versions of your products is hardly innovating.
Why it took so long for them to do it (and not neuter them or call it a Merkur) is beyond me.
 
2013-01-11 09:13:11 AM  
Damn. I bought Ford stock when the tsunami hit Japan. I figured they were in the best position to benefit. Bought in at $16, and today's good news gives them a stock price that came back up to $13.

I'm not very good at this.
 
2013-01-11 09:14:30 AM  

Linoleum_Blownapart: I'm not very good at this.


Unless you're involved in some sort of Brewster's Millions type deal.
 
2013-01-11 09:15:28 AM  

Dinki: I guess a $5.9 billion government loan doesn't qualify as a bailout.


All in all, Ford took in $14.5 billion in loans and Ford Motor Credit, a wholly owned subsidiary of Ford Motor Company, took in $5 billion in TARP funds. $19.5 million total in Government funds.
 
2013-01-11 09:15:31 AM  

karnal: Dinki


I guess a $5.9 billion government loan doesn't qualify as a bailout.


That wasn't part of a bailout.....Ford wasn't on the verge of bankruptcy at the time. The government offered lows interest loans to help auto manufacturers meet new fuel-efficiency standards that was put in place. The money was to help manufacturers develop fuel-efficient vehicles.


??? you mean subsidized research? Or they weren't selling enough cars at a profit to afford the research? Either way it's a bail out in my book. Anything else is a RepubliCON excuse.
 
2013-01-11 09:15:43 AM  
Ford, Toyota and I think Honda all took TARP funds via their financial arms
 
2013-01-11 09:16:29 AM  

Dinki: I guess a $5.9 billion government loan doesn't qualify as a bailout.


I'm pretty sure a loan has to be paid back on the lender's terms, while a bailout is paid back on the debtor's terms.

Not that it matters, Ford is still chained to GM and Chrysler, and will be sunk along with them unless they can not only stay profitable, but also make enough profit to cover the other two companies' losses.
 
2013-01-11 09:16:46 AM  

zedster: Ford, Toyota and I think Honda all took TARP funds via their financial arms


This^^^
 
2013-01-11 09:18:04 AM  
And while we're at it...

WHY NOT FORD!?!?

autofixx.com


t2.gstatic.com
 
2013-01-11 09:18:05 AM  
Ford got a $6B line of credit, while GM and Chrysler received actual bridging loans. They all received loans in order to finance and payoff their healthcare and fund their pension systems--the part that the GOP loves to call a handout to the unions. Nevermind that it was Bush that approved it. GM and Chrysler also eventually went bankrupt because they had corrupt senior-level management practices that had lost their way. Essentially senior leaders surrounded themselves with YesMen, voted themselves perks bonuses and raises while screwing over their employees. Ford wasn't completely immune to it, but the problem was far from rampant. Fortune had a good spread on the comparison between the companies across several issues back in 2010.
 
2013-01-11 09:18:27 AM  

Bladel: Ford understood that if one of the other two went under, its supplier network would be toast


Yup. Ford had a 70% supplier overlap and 30% dealer overlap w/ GM and Chrysler so they would have been dead in the water. Also, Ford had just borrowed ~$20B to finance a massive restructuring plan a year or so before. Restructuring was sacled back and Ford used most of the money to weather the downturn. That's not skill or aptitude - it's luck.
 
2013-01-11 09:18:57 AM  
As I recall, they literally told Fartbama to go f**k himself.
 
2013-01-11 09:20:32 AM  
Very bootstrappy of them. Reads article sees govt loans and tax breaks then has second thoughts.
 
2013-01-11 09:22:13 AM  
As I recall, they literally told Fartbama to go f**k himself.

Uh no. As Tom Walsh, business editor of the Detroit Free Press, will tell you, Ford was in on the first calls to the president requesting emergency aid.

But you can believe in fluffy unicorns if it makes you feel better.
 
2013-01-11 09:23:04 AM  

YodaBlues: About that Subby...


Regarding your link... Damn that Cash for Clunkers program! That was a horrible idea, all those perfectly good cars junked before their time. The amount of energy and resources going into building their replacements was worth a thousand(unsourced wicked guess) times the fuel savings offered by the replacement vehicles.

All those beautiful beaters killed for political expedience... sniff.
 
2013-01-11 09:23:09 AM  
I always buy imports. I make sure that they're 100% manufactured in foreign countries.

It's the American thing to do.
 
2013-01-11 09:23:14 AM  

Linoleum_Blownapart: Damn. I bought Ford stock when the tsunami hit Japan. I figured they were in the best position to benefit. Bought in at $16, and today's good news gives them a stock price that came back up to $13.

I'm not very good at this.


I bought Ford at $5, so I'm better than you :P

/except that I lost a few bucks on other stocks
//but SanDisk was a GREAT buy $8--->$42
 
2013-01-11 09:23:14 AM  

Dinki: I guess a $5.9 billion government loan doesn't qualify as a bailout.


Since it's not a bailout now, wasn't a bailout when it happened constantly before the crash and hasn't become a bailout since it's continued to happen after the crash, no, it's not a bailout.

Companies of all sizes get loans from the government all the time to perform various restructuring operations. They're not now and never have been bailouts.
 
2013-01-11 09:23:37 AM  

Linoleum_Blownapart: Damn. I bought Ford stock when the tsunami hit Japan. I figured they were in the best position to benefit. Bought in at $16, and today's good news gives them a stock price that came back up to $13.

I'm not very good at this.


Bought at $1.75, sold at twice that, have been kicking myself ever since.
 
2013-01-11 09:23:58 AM  
Republitard logic: It's a car company, therefore when bootstrappiness succeeds the same thing can be applied to all car companies. (Never mind when it doesn't, 'cause that's God's will!)
 
2013-01-11 09:24:30 AM  
My parents bought a brand new Ford Escort in 1985 (the sweet spot of the lemon years between '83-'87) That car lasted literally 4 years and needed a new engine twice in that time. The third time it died, they got a Dodge Caravan (1989). Now that was a good damn car. That experience will be forever burned in my memory and it will take a lot of convincing for me to buy a Ford car. Trucks are another story.
 
2013-01-11 09:24:56 AM  
mrlewish

karnal: Dinki


I guess a $5.9 billion government loan doesn't qualify as a bailout.


That wasn't part of a bailout.....Ford wasn't on the verge of bankruptcy at the time. The government offered lows interest loans to help auto manufacturers meet new fuel-efficiency standards that was put in place. The money was to help manufacturers develop fuel-efficient vehicles.

??? you mean subsidized research? Or they weren't selling enough cars at a profit to afford the research? Either way it's a bail out in my book. Anything else is a RepubliCON excuse.


For all I care, you can call a Twinkie 'Mi Los Submarinos' as you suck all the white cream out - but it wasn't a bailout.

It would be no different than the city you live in telling you that you have to upgrade your A/C because the EPA banned the use of a certain kind of freon in air conditioners and then offer you a low or no interest loan to get it done.
 
2013-01-11 09:25:57 AM  
We bought a Ford Flex. Crazy kinda truck-wagon thing. I like it. Runs well for now.
 
2013-01-11 09:27:14 AM  

proteus_b: Linoleum_Blownapart: Damn. I bought Ford stock when the tsunami hit Japan. I figured they were in the best position to benefit. Bought in at $16, and today's good news gives them a stock price that came back up to $13.

I'm not very good at this.

I bought Ford at $5, so I'm better than you :P

/except that I lost a few bucks on other stocks
//but SanDisk was a GREAT buy $8--->$42


I bought Ford at under $4. Then I sold. Way too soon.
 
2013-01-11 09:28:10 AM  

karnal: That wasn't part of a bailout.....Ford wasn't on the verge of bankruptcy at the time. The government offered lows interest loans to help auto manufacturers meet new fuel-efficiency standards that was put in place. The money was to help manufacturers develop fuel-efficient vehicles.


I agree with karnal on this one. If this were an apropos-of-nothing sub-market loan to a financially viable company just for shiats and gigs, you could call it "corporate welfare." But that's really not the context in this instance.
 
2013-01-11 09:29:52 AM  

mrlewish: karnal: Dinki


I guess a $5.9 billion government loan doesn't qualify as a bailout.


That wasn't part of a bailout.....Ford wasn't on the verge of bankruptcy at the time. The government offered lows interest loans to help auto manufacturers meet new fuel-efficiency standards that was put in place. The money was to help manufacturers develop fuel-efficient vehicles.

??? you mean subsidized research? Or they weren't selling enough cars at a profit to afford the research? Either way it's a bail out in my book. Anything else is a RepubliCON excuse.


Since when is a LOAN subsidizing anything? The gov't makes interest on the loan. Why do lib's hate banks so much if they think handing out loans is such a nice gesture?
 
2013-01-11 09:30:22 AM  

whatsupchuck: Bought at $1.75, sold at twice that, have been kicking myself ever since.


I bought at just under $2.00 and sold at just under $13.00 a little over a year later. The Ford stock alone kept my IRA from losing money over that period and has since created a nice extra bit of padding.

I also snapped up some extra GE stock and some financials. I wish I'd taken that approach with more stocks though. Early 2009 was a great time to profit off of the stupidity of panicky idiots if you knew you had some time to let things recover.
 
2013-01-11 09:31:02 AM  

rolladuck: Ford got a $6B line of credit, while GM and Chrysler received actual bridging loans. They all received loans in order to finance and payoff their healthcare and fund their pension systems--the part that the GOP loves to call a handout to the unions. Nevermind that it was Bush that approved it. GM and Chrysler also eventually went bankrupt because they had corrupt senior-level management practices that had lost their way. Essentially senior leaders surrounded themselves with YesMen, voted themselves perks bonuses and raises while screwing over their employees. Ford wasn't completely immune to it, but the problem was far from rampant. Fortune had a good spread on the comparison between the companies across several issues back in 2010.


Don't forget the roll the Southern Republicans played in sinking the US auto. They brought in Asia and German car companies to the south with little or no taxes and built them state of the art factories. Then they complained when the big 3 with sunken capital, old factories, and large number of retired workers moved their factories, with the help of NAFTA, to Mexico and Canada to get the same benefits foreign makers got coming to the US. Those right to work states were able to get jobs that adjusted for COLA got about the same money and benefits as unionized workers while actively working to destroy the unions that had set those wages.
 
2013-01-11 09:31:55 AM  

mrlewish: karnal: Dinki


I guess a $5.9 billion government loan doesn't qualify as a bailout.


That wasn't part of a bailout.....Ford wasn't on the verge of bankruptcy at the time. The government offered lows interest loans to help auto manufacturers meet new fuel-efficiency standards that was put in place. The money was to help manufacturers develop fuel-efficient vehicles.

??? you mean subsidized research? Or they weren't selling enough cars at a profit to afford the research? Either way it's a bail out in my book. Anything else is a RepubliCON excuse.


"Hey. Do this."
"No. I can't afford to waste the cash."
"I'll give you money to do this."
"Okay."
"Bailout!!!"
 
2013-01-11 09:31:59 AM  

Omnivorous: As I recall, they literally told Fartbama to go f**k himself.

Uh no. As Tom Walsh, business editor of the Detroit Free Press, will tell you, Ford was in on the first calls to the president requesting emergency aid.

But you can believe in fluffy unicorns if it makes you feel better.


Fluffy Unicorns are real, Best Korea proved this...
 
2013-01-11 09:33:46 AM  
To be fair they did take billions in low interest government loans. Still their turn around has been impressive. And even more impressive they've managed to increase (a lot) the quality of their fleet in the process.
 
2013-01-11 09:35:55 AM  

WhippingBoy: I always buy imports. I make sure that they're 100% manufactured in foreign countries.


Yeah, my TSX was made in Japan, and I have been driving the piss out of that thing for 8 years. Still sounds and drives like brand new.

I'm not feeling much motivation to buy a vehicle made in the US by UAW workers. I'd love to support their families, but they don't love to support making a quality product.
 
2013-01-11 09:39:09 AM  

LL316: Since when is a LOAN subsidizing anything? The gov't makes interest on the loan.


The Government made interest on the TARP program too. But I'm betting nobody is calling that anything other than a bailout.
 
2013-01-11 09:45:15 AM  

Linoleum_Blownapart: Damn. I bought Ford stock when the tsunami hit Japan. I figured they were in the best position to benefit. Bought in at $16, and today's good news gives them a stock price that came back up to $13.

I'm not very good at this.


I bought in at 10 bucks. I punch those numbers into my calculator, it makes a happy face.

TaTa motors is doing really well too. They are due to be selling in the US market next year I think.
 
2013-01-11 09:48:20 AM  
Derponomics
 
2013-01-11 09:52:17 AM  
REAL bootstrappy businesses don't care about the rest of the economic world, money supply or credit; they'll sell their products no matter how many people are unemployed, terrified of the future and hoping just to eat today.
 
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