Quote:
Originally Posted by GUMP
So where exactly did Ford get their money?
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Hate for this thread to get off track but since no one else is going to answer.
Ford borrowed $23.5 billion from a bank to restructure in 2006. They put up the Mustang(R), F150(R) and even the Ford blue oval(R) for collateral. In this restructuring event they liquidated many assests that were not a part of the core company. Getting rid of such items as Ford Field in Michigan, Shares of Mazda, Jaguar, Aston martin and consolidated some vehicles platforms. Ford has repayed the loan and has their debt ratings upgraded to investment-grade. They now have their collateral back.
Ford did go to washington not to ask for bailout money but to ask to have available a loan if it was needed in the future. There is no doubt that the auto industry was hit hard in the Econonomical downturn that took place and all were struggling.
They focused on becoming a global car company while focusing on its brand.(instead of trying to run multiple companies in different parts of the world differently). They focused intensly on safety and quality and set there sites on regaining market share and brand reconignition. (They brought back familiar names such as Taurus). They also stopped relying on economies of scale to be profatable.
This is just a small part of everything that Alan Mulally(came to Ford in 06 from boeing) and the managment team did with the company to make it into what it has become today.
And now back to the original program...
When will the rules be set in stone?
Still wondering what the difference is between the V10s?
Looking forward to seeing the showdown. I'll be there but will have just picked up the BIW the week before so I won't be racing in it unfortunately. Indy is always a great time!