Ford Had a Better Idea: No Bailout

By Julia A. Seymour
Business & Media Institute
11/4/2009 3:16:04 PM

Ford Motor Company took everyone by \”surprise\” Nov. 2, when it announced nearly a billion dollars in profit for the third quarter of 2009. The company also said it would be \”solidly profitable\” by 2011.

 

CNN repeated the announcement on Nov. 3 \”American Morning,\” saying, \”Turning now to the Big Three in Detroit, Chrysler extends its buyout offer to more than 20,000 employees while General Motors is still trying to restructure spending billions of bailout dollars, but Ford – which didn’t take any cash from Uncle Sam – is back in the green again, posting a profit of nearly $1 billion for the third quarter.\”

 

The announcement was big news, but what should have caught more journalists’ attention was the fact that Ford managed to turn things around without the help of a federal bailout – the very bailout reporters promoted in 2008 and 2009.

via www.businessandmedia.org