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re: yet another example of how Republicans are not for free market/limited government
Posted on 6/5/17 at 2:32 pm to Big Scrub TX
Posted on 6/5/17 at 2:32 pm to Big Scrub TX
quote:
Presumably the same way it factors into the "Big 3" also having received massive government support.
Incorrect. Ford received nothing.
Posted on 6/5/17 at 2:42 pm to HeyHeyHogsAllTheWay
not true
Forbes
(from 2012)
Forbes
(from 2012)
quote:
Ford Motor owes the government $5.9 billion it borrowed in June 2009, the same month GM filed for bankruptcy.
The Obama Administration, dreaming of a million electric cars on the road by 2015, loaned Ford the money to help it pay for development of hybrids and EVs, and to retool its factories to produce smaller, cleaner vehicles. While not characterized as a “bailout” by any means, let’s be honest: Ford’s loan – received at a critical time when other sources of financing weren’t available to automakers or their suppliers – no doubt helped the carmaker survive the industry crisis and contributed to its strong market position today, especially after the Obama Administration finalized tougher fuel economy rules this week.
quote:
No company was a bigger beneficiary of the DOE’s green car funding initiative than Ford. It received two-thirds of the $8.8 billion loaned under the department’s Advanced Technology Vehicle Manufacturing program. Congress appropriated $25 billion for that program in late 2008, during the waning days of the Bush Administration, around the same time the auto company CEOs were getting grilled on Capitol Hill.
Posted on 6/6/17 at 11:45 am to HeyHeyHogsAllTheWay
quote:Do you enjoy being wrong so much? And I wasn't even referring to these specific and recent green subsidies. I'm referring to many decades of both direct and quasi-direct government support.
Incorrect. Ford received nothing.
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