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Title: Harry Reid: Auto Bailout Probably Saved Ford [ Fprd didnt get or need help ]
Source: realclearpolitics.com
URL Source: http://www.realclearpolitics.com/vi ... ilout_probably_saved_ford.html
Published: Jul 22, 2010
Author: realclearpolitics.com
Post Date: 2010-07-22 15:51:16 by WhiteSands
Keywords: Harry Reid:, liberals
Views: 24811
Comments: 6

SEN. HARRY REID (D-NV): "Isn't it a good thing today in America that we have an automobile manufacturing sector? If it had been up to them [Republicans], General Motors would be gone. If it were up to them, Ford Motor Company would probably be gone. Chrysler definitely would be gone."

Ford did not take any bailout money from the government.

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Begin Trace Mode for Comment # 6.

#1. To: WhiteSands (#0)

Reid was right when this was posted earlier too:

http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=11423

go65  posted on  2010-07-22   15:51:56 ET  Reply   Untrace   Trace   Private Reply  


#5. To: go65 (#1)

Reid was right when this was posted earlier too:

Lay off the Stupid pill Go65. No GM, no Chrysler means more profits for Ford.

Man are you stupid.

Nebuchadnezzar  posted on  2010-07-22   19:08:39 ET  Reply   Untrace   Trace   Private Reply  


#6. To: Nebuchadnezzar, no gnu taxes, whitesands, reaganisright (#5)

No GM, no Chrysler means collapse of suppliers for Ford

Fixed that for you.

And you should read this:

http://online.wsj.com/article/SB122703811621838291.html

WASHINGTON -- The chief executives of Detroit's Big Three auto makers appealed in dire language for U.S. taxpayers to help their industry, but couldn't dispel doubts in Congress that have clouded prospects for a government-led rescue.

In appearances Tuesday before the Senate Banking Committee, the leaders of General Motors Corp., Ford Motor Co. and Chrysler LLC, together with the head of the United Auto Workers union, argued the shaky U.S. economy couldn't withstand a collapse of any of the companies.

And, here's the testimony of Ford's CEO pleading for government assistance in 2008.

http://www.scribd.com/doc/8655984/Ford-CEO-Alan-Mulally-Oral-Testimony

Despite this downturn, Ford does not anticipate a near-term liquidity crisis.In fact, we expect our automobile business to be profitable in 2011.But we do support a government bridge loan because it is critically important to the U.S. auto industry. Specifically, Ford requests access to $9 billion in bridge financing – something we hope we will not need to use.Instead, as we continue to drive change in our company, this line of credit will serve as a critical safeguard, if events require it.And if we did need to access this loan, we would use the money to continue our aggressive transformation and restructuring.

go65  posted on  2010-07-22   22:20:37 ET  Reply   Untrace   Trace   Private Reply  


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