Ford Risks everything (literally) to save company

[hsdfcu]

Very scary times.
Ford to put all U.S. assets up as collateral for financing deal - 11/27/06 - The Detroit News Online

Ford is no longer able to borrow based on its "good name". If they don't eventually turn a consistant profit and default on their loans, it would take a HUGE Government bailout to save Ford Motor Company as we know it....or it could be taken by creditors and sold off to the highest bidder in pieces (all North American factories, offices, etc.) Is this a good idea? Do they have any other choice?

 

[Donnyj]

With there latest offerings of automobiles in the last year, I feel confident they will pull out of this. The Fusion was already ranked highest in initial quality over Camry and Accord. Ford had the second highest recommended rating worldwide right behind Toyota. They took over the second spot just this year from Honda.Domestic models gain major ground in Consumer Reports reliability ratings - Autoblog

http://www.automotivedigest.com/view_art.asp?articlesID=20702

 

[Dusty]

I am still a believer in Ford Motor Company as an automobile manufacturer. I own Ford stock and bonds and am not if any fear of them going under. Like all the other US automobile manufacturers, they are having problems, but none so difficult that they can't overcome them. The one constant for all US automobile manufacturers is the Unions. If the Unions don't hobble the auto makers, they will all win in the end. If they push for additional current and future benefits, that can push them over the edge and into bankruptcy. I have no idea where they stand with the current contract, but if history has taught us anything, it is that the UAW always wants more when it comes contract time.

 

[hsdfcu]

With there latest offerings of automobiles in the last year, I feel confident they will pull out of this. The Fusion was already ranked highest in initial quality over Camry and Accord. Ford had the second highest recommended rating worldwide right behind Toyota. They took over the second spot just this year from Honda.Domestic models gain major ground in Consumer Reports reliability ratings - Autoblog

http://www.automotivedigest.com/view_art.asp?articlesID=20702

Weird since JD power ranks it below average: I hope they make it since we do not need the gov (our money) to bail another automaker out.

 

[AndyM]

I hope they make it since we do not need the gov (our money) to bail another automaker out.

I'm assuming you're talking about Chrysler Corporation?

Government money was never loaned to Chrysler Corporation.
The federal government guaranteed repayment of private loans to Chrysler, which were all paid back in full years ahead of time. (Chrysler Corporation Loan Guarantee Act of 1979)


Anyway, hopefully Ford Motor Company will pull out of this.
One of the only ways this can happen is through the major restructuring they have started, reducing any redundancies and duplication in the company (Mercury, for example), and in the future, possibly look into a partnership with a strong foreign company.

 

[turbo36]

I'm assuming you're talking about Chrysler Corporation?

Government money was never loaned to Chrysler Corporation.
The federal government guaranteed repayment of private loans to Chrysler, which were all paid back in full years ahead of time. (Chrysler Corporation Loan Guarantee Act of 1979)


Anyway, hopefully Ford Motor Company will pull out of this.
One of the only ways this can happen is through the major restructuring they have started, reducing any redundancies and duplication in the company (Mercury, for example), and in the future, possibly look into a partnership with a strong foreign company.

You are correct, very few people know the real story it was not a "bail-out" and the loans were paid back early as you stated. Our government has "bailed" out a lot of things in the past such as banking, farming and most of the other countries in the world but is has never "bailed" out a car company.

 

[Alan L.]

Very scary times.
Ford to put all U.S. assets up as collateral for financing deal - 11/27/06 - The Detroit News Online

Ford is no longer able to borrow based on its "good name". If they don't eventually turn a consistant profit and default on their loans, it would take a HUGE Government bailout to save Ford Motor Company as we know it....or it could be taken by creditors and sold off to the highest bidder in pieces (all North American factories, offices, etc.) Is this a good idea? Do they have any other choice?

Good riddance. I bought a 1986 Taurus brand new and it took off on its and luckily didn't kill anyone. Ford would never agree to even meet with me, and I was thrown out of the Ford dealership.

I hope they go broke, considering the crap they have been building for the last 30 years.

Well, not really because I hate to see those workers lose their jobs. But I am bitter after the way I was treated. Many others were too, I managed to find several that had the same problem.

Well, I do like the new Mustang GT, if it had GM on the name tag I'd buy one.

 

[AndyM]

Good riddance...
I hope they go broke, considering the crap they have been building for the last 30 years.

Gosh. Tell us how you really feel.

Since I just sold my 1983 Ford van, I am without a Ford product for the first time since I was 17 years old.

Though no product line is entirely flawless, I've had pretty good luck with Ford products. I've come to the conclusion that anyone who manufactures over two million vehicles a year is going to have a few units with some problems at some point. Ford's quality, along with General Motors, have improved many times over during the last twenty years.

With the exception of my Kia-made Festiva that went through three transmissions within the first 12,000 miles, and a Contour that had front-end issues that repeatedly weren't corrected after 90,000 miles, I have had good luck with Ford products.

I have had two Tauruses, three Tempos, a Mercury Tracer, a F-150, and a Ranger that I was very happy with, and were generally problem-free with the exception of general maintenance.

I shopped for Fords the last two times, but ended up with Chevrolets both times because of a huge difference in price... couldn't pass up the $4000 rebate on the 2004 Cavalier, or the price I got on the 2005 Malibu!
I never thought I would ever own a GM product, but I like what I have seen there too.

I'm pulling for Ford, but it can only happen with the cooporation and teamwork of Ford employees, both hourly and salaried, suppliers, and the union to work toward the common goal-- Survival.

 

[Donnyj]

I have worked in 2 different Ford dealerships in the last 16 years and have never seen or heard of any Ford taking off by itself. Most "unknown" throttle sticking issues leads directly to the customers floor mat or aftermarked floormat being pushed under the gas pedal. You will notice alot of automobiles have a retaining clip on the drivers side which holds the floormat from sliding forward. Must be there for a reason.

I can assure you by the constant decrease of warranty work {except 6.0 diesels} that Ford is building some of the best vehicles in there history. There is just not enough work to go around anymore. Diesel techs and Senior Master Techs like myself are getting all the work. I'm still able to keep one helper and myself busy.

 

[turbo36]

Good riddance. I bought a 1986 Taurus brand new and it took off on its and luckily didn't kill anyone. Ford would never agree to even meet with me, and I was thrown out of the Ford dealership.

I hope they go broke, considering the crap they have been building for the last 30 years.

Well, not really because I hate to see those workers lose their jobs. But I am bitter after the way I was treated. Many others were too, I managed to find several that had the same problem.

Well, I do like the new Mustang GT, if it had GM on the name tag I'd buy one.

I had the same experience with a GM product in 1988 and even thou I can get the GM Family discount since them I have chosen not to give them the opportunity to screw me again (well except for the 2001 Corvette convertible I bought in a "mid-life crises moment". Bad service can happen with any brand.