I thought Ford was the only auto that didn't take the bailout money... Bad intel / search fu or ?
Since you asked :
What The Automakers Got
The breakdown of the Automotive Industry Finance Program had loans to provide operating cash to GM and Chrysler, as well as money available for the car buyers through GMAC. General Motors was awarded a $13.4 billion loan with $6 billion set aside for GMAC. Chrysler was given a $4 billion loan. These amounts were determined to be the best alternatives for the companies by congress.
Does that mean that Ford did not get any money from the government? Hardly. Congress decided that the best alternative for Ford was to get funds from the Term Asset-Backed Securities Loan Facility (TALF), which is a government program for auto, student, and other consumer loans. These were very low-cost government loans to the tune of $5.9 billion that helped Ford tip-toe past bankruptcy and overhaul their factories to bring out more fuel-efficient technology. The Obama administration痴 plans of having a million electric cars on the road by 2015 were being funneled through Ford and two other companies (Nissan and Tesla), and Ford fans had the audacity to call GM 敵overnment Motors.
Despite hiding behind the trees for a couple of years, the bailout finally caught up with Ford as evidenced by the Fordç—´ Twin Cities Assembly Plant in Minnesota which was closed in 2011.
That was the tradeoff for Ford. They promised to fast-track development of energy-efficient vehicles and consolidate operations by making å*µreener cars that the Obama administration wanted to see.
Ford Credit borrowed $15.9 billion dollars as opposed to GMAC, GM痴 financing arm which borrowed $13.9 billion. These numbers make the perception that Ford was the only Detroit-based company that didn稚 need a federal handout during the economic crash completely false.
For their part, GM agreed to streamline the number of brands they produce. The big three CEOs agreed to work for $1 a year and sell their corporate jets as well.
Let痴 be honest here: Ford has gotten a free pass and earned market shares for being the only US automaker that 電idn稚 take bailout money, when they did in fact, take government loans with the condition of making cars that the government wanted. Which company was truly 敵overnment Motors in the real behind the scenes scenario? That would be Ford, of course. So basically the Ford Ecoboost was produced via Government money.
All of this information is public and easily researched.
