The Truth About Cars » accurate appraisal http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Thu, 17 Apr 2014 14:58:32 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.1 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars » accurate appraisal http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com Ford PR: “We are also going to pay back our loans unlike other companies” http://www.thetruthaboutcars.com/2009/11/ford-pr-we-are-also-going-to-pay-back-our-loans-unlike-other-companies/ http://www.thetruthaboutcars.com/2009/11/ford-pr-we-are-also-going-to-pay-back-our-loans-unlike-other-companies/#comments Wed, 11 Nov 2009 04:50:32 +0000 http://www.thetruthaboutcars.com/?p=334912 Bomb thrower? (courtesy 1.bp.blogspot.com)

Responding to TTAC commentator Ohsnapback, Ford’s Communications rep defended his employer’s turnaround plan. “At Ford we have never said that we have won the battle already,” Jay Ward wrote. “Just that we are making considerable progress against our plan. You are right that the job is not done, but the evidence so far is overwhealmingly [sic] positive.” So far, so PR. And then . . . “We are managing our debt and working hard to pay it off. We are also going to pay back our loans unlike other companies (not just automotive – how about the banks while we are on the subject).” It’s a blunt and entirely accurate appraisal of GM and Chrysler’s chances of returning the government’s $72 billion (plus) “investment” in the failed domestic automakers. Ward goes on to underline Ford’s official position that its $10 billion no-to-low interest, 25-year “retooling” loan from the Department of Energy does not constitute a government bailout. ” . . . we did shun bail out money. We accepted government loans available to all auto manufacturers both domestic and foreign. We have committed to paying these back and I fail to see how we can be critisised [sic] for that.” And just in case you thought the attack on GM and Chrysler’s mega-suckle was a slip of the tongue, Ward makes a second strafing run. “If everyone else pays back every penny that Uncle Sam has ‘loaned’ them, I will eat my Mustang and my Flex.” Jay’s cars are safe. His ability to post on TTAC without interference from The Glass House Gang? Not so much.

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