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TMFBomb (92.13)

Ford throws GM under the bus (the SUV?)

Recs

4

December 03, 2008 – Comments (2) | RELATED TICKERS: F , GM

This excerpt from a Wall Street Journal e-mail alert cracked me up:

Ford CEO Alan Mulally says he is confident his company can survive the recession but is "very concerned" about the future of GM and Chrysler. He added that he had been unprepared to offer details when he testified before Congress but says he is now armed with a recovery plan.

So, Ford, what you're telling me is that:

1) You want a $9 billion credit line from the government, but

2) you are too proud to admit you need it, and

3) you'll go even further to say that your two rivals are in trouble.

I get the impression that if Alan Mulally were down on his luck and needed to crash on your couch for a few months, he'd complain about the lumpiness of the cushions.

I'm hoping Mulally's comment leads to more cattiness and bitter finger-pointing among the Big 3...makes for good blogging!

 

2 Comments – Post Your Own

#1) On December 03, 2008 at 5:24 PM, Imperial1964 (98.25) wrote:

He could be right about not needing it.  In the short-term the other two need it worse.  For Ford it depends on how soon the economy recovers.  For GM and Chrysler, they need cash NOW.

 

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#2) On December 03, 2008 at 11:24 PM, TMFBomb (92.13) wrote:

Imperial,

 Fair enough.  Still, I'm not giving them the benefit of the doubt.  Check out Morgan Housel's article from earlier today...gives some insight into why I refuse to trust Ford's projections:

http://www.fool.com/investing/international/2008/12/03/one-more-reason-we-shouldnt-bail-out-detroit.aspx

-A

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