Ford adds to Detroit's bailout denial
This is what all Americans wanted?Ford CEO Alan Mulally told Phil LeBeau that Ford was "truck and SUV focused because THAT is what the customer wanted. Now that the market has shifted, Ford has to try and shift with them." Thus, the need for the bailout.
I can't stand this tired line. If true, why has Ford lost marketshare for decades? How did Honda and Toyota get so big? Why have the Big 3 been suffering for years if they were building exactly what consumers wanted?
The Big 3 put all their eggs in one basket because it offered the greatest profit. Even after events like 9/11 and Katrina, NOTHING changed. Hey, but that's what consumers wanted.
Labels: Ford
posted by Dahcredyns at
6:59 AM
2 Comments:
I favor the money, at least the $25 billion since it was part of the energy plan that includes CAFE. Still, accept some responsibility - just once it would be nice to hear the Big 3 admit they made some serious mistakes. But its not their fault, its all the fault of consumers?
Indigo Incarnates
If it looks like a bailout, flaps like a bailout, and quacks like a bailout... it's probably a bailout. As I posted on CleanMPG, I have no doubt that the bailout will be structured as a loan. BUT the CEOs will just pocket the money and never repay a single penny. And thus the loan will become a bailout that way.
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