Ford is losing money, just like GM and Chrysler, yet they won't go begging from their no-longer-so-rich Uncle Sam for a handout:
Ford Motor Co. says it lost $5.9 billion in the fourth quarter but it has no plans to seek federal aid unless economic conditions worsen.
The second-largest U.S. automaker says it burned through $5.5 billion in cash during the quarter...
Reminds me of some tough times I went through; yet whenever my well-meaning dad would offer me a quick $100- or so to get me through to payday, I would always - always - turn it down. I thought it important to learn from my privitation, and I knew that when I succeeded in life, that victory would be mine, and not owed to any other.
GM and Chrysler will always be beholden to the government now, and like the Soprano family, the government will never fail to call in a debt for repayment, with some serious interest payments to boot. All this, of course, comes complete with the spectre of "dire consequences" if you don't pay ball...
Ford, if they stay their current course, will not have that albatross, and will be free to design whatever automobiles the public wants, as opposed to what the government tells the other two companies that the people allegedly need.
So who will be the winner in five years? Ford seems to have a long-term plan, while GM and Chrysler are just junkies, careening from failure to failure, and whining for more cash when they inevitably hit the wall. Someone should remind them that even a rich uncle has his limits.
In the meantime, I'll look at a Ford first next time. Shoot, just sign me up for this one....
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