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Business
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Title: Ford Would Have Shut Without Auto Bailouts, Rattner Says
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2012- ... uto-bailouts-rattner-says.html
Published: Oct 9, 2012
Author: Angela Greiling Keane
Post Date: 2012-10-09 10:36:19 by Brian S
Keywords: None
Views: 1024
Comments: 2

Ford Motor Co. (F), the only large U.S. automaker that didn’t receive a U.S. government bailout, would’ve failed along with General Motors Corp. and Chrysler LLC if President Barack Obama’s administration hadn’t rescued the industry, said Steven Rattner, who headed Obama’s auto task force.

“Ford would have closed because it wouldn’t have been able to get parts, because the parts industry in this country was in arguably worse shape than the assemblers,” Rattner said today at the Center for American Progress in Washington.

Rattner, now chairman of the Willett Advisors LLC investment firm, led the $63.4 billion bailout in 2009 of GM and Chrysler, which he said would have fired all their workers and ceased to exist without the bailout.

President George W. Bush, who preceded Obama, “did the right thing” by beginning the bailout process, giving $17.5 billion to GM and Chrysler in 2008, Rattner said.

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#1. To: Brian S (#0)

Complete bullshit, ford is a wildly successful company. Unlike the USA, they picked a capable leader to run their company.

calcon  posted on  2012-10-09   10:54:50 ET  Reply   Trace   Private Reply  


#2. To: calcon (#1)

Complete bullshit, ford is a wildly successful company. Unlike the USA, they picked a capable leader to run their company.

Ford dealerships are fairly independent of the main company. Believe me, the article is spot on.

Almost every country in the Middle East is awash in oil, and we have to side with the one that has nothing but joos. Goddamn, that was good thinkin'. Esso posted on 2012-01-13 7:37:56 ET

mininggold  posted on  2012-10-09   10:58:41 ET  Reply   Trace   Private Reply  


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