Ford burns through first $7.7 billion bailout. Now it wants more. Seriously, what is...

11-09-2008, 04:29 AM

...the problem here? "Ford announces $129M 3Q loss, burns $7.7B in cash," http://news.yahoo.com/s/ap/20081107/ap_on_bi_ge/earns_ford ; "Congress weighs loans for automakers," http://www.reuters.com/article/politicsNews/idUSWBT00966320080909

So I'm wondering, first, what is wrong with these carmakers that they're apparently so a.ss-backward in the industry that they can't even get on their feet with $7.7 bil. I'm wondering, secondly, where the $7.7 bil actually WENT.
Uh, JMB, I don't have my "mind made up" about anything. I realize what a company this size going under would do to the rest of the economy.

Please. Since you have such deep knowledge. Enlighten us. Perhaps you could throw in a bit about what an illusion the "free market" is.

11-09-2008, 04:30 AM

Let 'em burn as far as I'm concerned...give the money to the people...we'll spend it!!!

11-09-2008, 04:30 AM

The money went to all the Top Dogs in salary and bounuses.
They need more because their cars suck and nobody buys them.

11-09-2008, 04:30 AM

The company has cash on hand incase of down turns of the economy or whatever. The cash paid for salaries, insurance, capital etc because no one is buying new autos for them to make a profit. Welcome to the Bush economy and the disaster capitalism that Milton Friedman style of economics has brought us to.

Ford never modernized their plants making them more efficient and less costly. They also never made cars in the numbers that would be in demand that are ultra fuel efficient, especially during times when gas was approaching $5 a gallon. Dumb move on their CEO's part. GM is in the same position.

11-09-2008, 04:31 AM

I was going to attempt to answer that question, but I am afraid any educated response would not be understood, because it appears to me that you already have your mind made up, and no one is going to change it.

artgurrl, explained it very well, which saved me a lot of typing.

11-09-2008, 04:31 AM

Into their pockets. They need to keep a better track of what people do with these bailouts.

11-09-2008, 04:32 AM

They had to pay all the union thugs.

11-09-2008, 04:33 AM

The govt = crowd of idiots. If I actually didn't want these failure corporations to go under, I would friggin nationalize them and scare the crappy management off.