11-29-2006: At the time, the request was considered an act of desperation. But the $23.6 billion in loans it received turned out to be Ford’s salvation.
Plunging car sales have driven its two American rivals, General Motors and Chrysler, to the brink of bankruptcy, forcing them to borrow $17.4 billion from the federal government to stay in business
Ford has about a year’s worth of cash left to carry it through a still-depressed car market.
Click on the following to read the rest of the story: Well-Timed Borrowing Sets Ford Apart From Rivals - NYTimes.com
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