'Ford wins election'
One of Detroit's automakers gets a pat on the back while another gets paddled for going back to the federal trough one too many times by the Wall Street Journal editorial board. The Journal opines that Ford is winning the election among consumers in the showroom.
Bailed-out Chrysler is losing market share and money, while the formerly bankrupt GM is gaining some sales at heavily discounted prices -- which means no profit.
Meanwhile, the Journal opposes a request for more bailout money for GMAC, the financial unit for both Chrysler and GM. The Journal counts at least seven different federal bailouts for GMAC compared with the one financial assist Ford Motor Co. has received.
Its bottom line on the battle between taxpayer-financed GM and Chrysler vs. Ford: "The people have voted. Treasury should now let consumers and investors decide which cars to purchase, and how to finance them."
Comments
| Jump to bottom |
Ford is winning
My tax dollars have already gone to bail out GM, GMAC, Chrysler several times over. Turn off the faucet from US Treasury.
mercantilist
The positive about Ford they recognized the problem much earlier and got a start on fixing it. To think of all of the Ford mistakes tied to globalism. Land Rover, Volvo, and Jaguar are among the prominent mistakes. If Ford had spent their money of Ford, Mercury and Lincoln they might have avoided the edge. Ford continues to stick it to American workers by producing the Fusion (and related products) and the new Fiesta in Mexico. And of course, Ford employs hoards of foreign workers in it's U.S. staffs. So before you buy a Ford make sure it is not a disguised import.
| Jump to top |
