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Posted on 3/3/23 at 8:37 am to CollegeFBRules
So Ford Didn't take a $6B government loan in 2009? Or your chosen news service didn't tell you?
Posted on 3/3/23 at 12:29 pm to CollegeFBRules
quote:
One feature Ford has over GM - they didn’t ask the government to save their arse.
Well that’s not entirely true, or at all true depending on how you look at it. But it’s true that they relied on the fedgov a whole lot less.
Ford took loans from the fedgov that were supposed to upgrade facilities to build fuel efficient vehicles but clearly provided them liquidity during the time. They also lobbied for cash for clunkers, which subsidized purchases of said fuel efficient vehicles. So they certainly got some help.
GM on the other hand, was not bailed out at all. The owners of the company lost their entire investment. The fedgov bought the company, put it through bankruptcy under its own terms, then sold the company. It’s a new company, the workers may have been bailed out, and you can still buy some of the same vehicles, but it is a complete mischaracterization that they were “bailed out”. The fedgov simply wanted their demise to be on their terms.
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