Fords remarkable renaissance, and the boom in the price of Ford stock, is another win for Obama, the Detroit bailout (and our stock portfolio). Even though Ford didnt go bankrupt and need the bailout money, Ford CEO Alan Mulally told Congress that Ford wouldnt last 6 months if both GM and Chrysler were allowed to go under, because the big 3 share the same supplier network. Ford pushed for the stimulus passage and received $5.9 billion in low interest government loans to retool its manufacturing plants to produce more fuel-efficient cars.
Posted on: Wed, 05 Mar 2014 12:54:35 +0000