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Ford did borrow 7 billion from the gov't?

'01LS1

By '01LS1
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SouthCo Senior Enthusiast

SouthCo

Posted
Posted

Nice find. I have a cousin who bust my chops and calls my truck Government Motors. He actually likes my truck but likes to hate a little too. He actually bought my 03 Tahoe and loves it. He has a Landcruiser, Odyssey, Jeep, and Excursion, but likes to talk up Ford because he thinks I care. I dont. But I did send him a link to this just to get him going.

Daryl LBZ Senior Enthusiast

Daryl LBZ

Posted
Posted

Good, now I'll save this on my phone, and then when someone gives me any crap I'll throw it in there face haha!

00Silverado4x4 Senior Enthusiast

00Silverado4x4

Posted
Posted

I've got caught crap about this same thing. Then I remind them that my truck is an '06 and was built before GM was totally in the drink. Frankly I don't really care "AND" GM has long since paid back their debt so it doesn't matter. I look at it this way, if I bought a good truck, I call it good. If I bought a bad truck, I call it a pile, don't care who "owns" the company that built it. What got me ticked off was some of the other companies that used the bailout to pay out bonuses to their high wigs instead of getting getting out of trouble...

MikeNH Senior Enthusiast

MikeNH

Posted
Posted

Yep, the Ford money is a open secret if such a thing exists. People love to say how they like Ford because they didn't take TARP loans which is true but they still took govt money, just in a different form.

'01LS1 Senior Enthusiast

'01LS1

Posted
  • Author
Posted

I've got caught crap about this same thing. Then I remind them that my truck is an '06 and was built before GM was totally in the drink. Frankly I don't really care "AND" GM has long since paid back their debt so it doesn't matter.

 

 

GM & Chrysler version of paying back the tarp money was using "other" borrowed gov't money to pay it off.

There is a better explanation of this out there, but best I can do at the moment.

Then there is this version for those wishing to read. http://www.factcheck.org/2010/05/general-motors-debt/

Last I heard is that the tax payers are still in General Motors for approximately $14 billion & a little less than half that on Chrysler.

 

Ford's CEO has really played up the fact that they did not take TARP money, which is true. But they did take gov't money. It is one of the best marketing deals out there. How many people have moved to FORD products because they believe it is a privately funded company & not a tax supported company?

 

Point to all of this, there was not a domestic mfg. that did NOT dip into your tax dollars to keep going. Just keep thinking about all those FORD shirts out there that need some editing.

jro909 Senior Enthusiast

jro909

Posted
Posted

yes ford took money...they were just ahead of the curve, why do you think they axed mercury?..its just GM and chrysler got more press

Doug_Scott Senior Enthusiast

Doug_Scott

Posted
Posted

GM in canada took more than they needed and were only required to pay back a percentage. The amount over they took just happened to be equal to the amount they had to repay. Then they advertised the hell out of how they paid back in full years before it was due.

jro909 Senior Enthusiast

jro909

Posted
Posted

i don't know why people make a big fuss over a company borrowing money...the majority of people in america take loans to stay afloat via credit cards and banks..

'01LS1 Senior Enthusiast

'01LS1

Posted
  • Author
Posted

i don't know why people make a big fuss over a company borrowing money...the majority of people in america take loans to stay afloat via credit cards and banks..

 

 

Yes, a majority of businesses borrow PRIVATE money with terms they will pay it back. What the car mfg's did was take public money(or add to the public debt) that they do not intend on paying back. Huge difference.

jro909 Senior Enthusiast

jro909

Posted
Posted

i don't know why people make a big fuss over a company borrowing money...the majority of people in america take loans to stay afloat via credit cards and banks..

 

 

Yes, a majority of businesses borrow PRIVATE money with terms they will pay it back. What the car mfg's did was take public money(or add to the public debt) that they do not intend on paying back. Huge difference.

 

 

so what about credit unions that are currently loaning my money out to strangers? my point is their is no point in pounding the war drum over this stuff, it happens daily to more companys then just the auto industry...if you don't like it, cash out your capital and live off the grid

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