Ford Might Not Need the Money

LCT Magazine
Posted on December 3, 2008
JUST IN CASE: Ford Motor Co. submitted a plan to Congress yesterday outlining its strategy to restore profitability, or break even, by 2011. Ford will be introducing electric and plug-in hybrids, eliminating its corporate jets, cutting executive compensation, and asking its labor union to be more flexible. Ford is asking the feds for a $9 billion line of credit, but believes it can get through the financial crisis without borrowing the money unless market conditions sink way down. The Detroit News is carefully tracking this story along with news updates and analysis of GM and Chrysler's lobbying efforts.

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