Ford cites possibility of Global Economic Collapse as a reason for $
Posted December 2nd, 2008 by Susan
output
on why bailout/loan money is needed by Ford from today's submission to Congress. I guess the 'terminology' has gone main stream.
(Bullet Point 3 Below)
"Finally, the industry cannot use the current financial markets to
finance its cyclical needs, as these markets are presently frozen, and any one of the following items could put severe pressure on our
short-term and long-term liquidity:
* A significant industry event, such as a bankruptcy of one of our
competitors, causes a disruption to our supply base, dealers and
creditors;
* The economic decline is greater than present forecasts and
industry volumes decline to per capita levels not seen since the great
depression era; or
* There is a global economic collapse, creating additional cash demands."
FORD MOTOR COMPANY BUSINESS PLAN
SUBMITTED TO THE
SENATE BANKING COMMITTEE
December 2, 2008
PDF
www.freep.com/assets/PDF/...
Page 5
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Part of the presentation, regarding the alleged "need" for
such a loan, comes across to me as something of a cleverly disguised political threat. Basically, you make the money available to us or you're going to have some angry voters to contend with at the polls. Much of it comes through like an expanded Ford commercial. (I own a Ford....of Mazda heritage).
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"An economy built on fiat money is a society on its way to ashes."