Ford, to pay off GM and Chrysler Loans?

[98GMLS]

See below from Autoline Detroit, is this a April Fool's joke.

 

 

"Meanwhile, over at Ford, with sales, market share and profits on the rise, Chairman Bill Ford Jr. as well as the company’s Chief Executive Officer and President, Alan Mulally, announced that the company is willing to pay off the loans both General Motors and Chrysler still owe the Federal Government – in full. Of course, in exchange, the Dearborn automaker would receive seats on both company’s boards as well as on the government’s Automotive Task Force and the National Security Council. A cabinet position for Ford Executive Mark Fields apparently is also part of the deal."

[one2gamble]

I am going with yes, yes it is April 1st

[akirby]

You had to ask???

[FoMoCobra]

Ford will just issue more stock to pay off the debt :reading:

[atvman]

A more believable joke would have been that Ford was going to buy large chunks of GM stock upon release.

[J-150]

I friggin' hate April Fools Day.

 

Every friggin' year these media outlets outdo themselves with unfunny BS.

 

 

Guys, just don't even try. Please. Just STFU and report real news if you can (the news outlets, not BOF)

Edited April 2, 2010 by J-150

[AlRozzi]

Actually, this may be closer to the truth than we know.

 

Ford is a private-sector company subject to tax on income. That money in turn goes into the federal government, which in turn will need to obsorb because the government won't get all the money back on it's GM and Chrysler ownership stake.

 

Thanks, Ford.

[jpd80]

Let's hope Ford's income becomes big enough that their taxes

paid to the government are enough to carry GM and Chrysler......:shades:

[Noah Harbinger]

Actually, this may be closer to the truth than we know.

 

Ford is a private-sector company subject to tax on income. That money in turn goes into the federal government, which in turn will need to obsorb because the government won't get all the money back on it's GM and Chrysler ownership stake.

 

Thanks, Ford.

 

 

If you look at the relative cost of letting GM/Chrysler fail completely, $60 billion is a drop in the bucket compared to the fiscal carnage their collapse would have added, especially coming during the same months that the most jobs were already being lost.

 

If we'd lost GM and Chrysler a year ago, that would have just kicked the feet out from under the already limping economy.