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Monday, April 20, 2009

Being Fair To Ford

I don't know how it happened, but a reporter from the NY Times did sympathetic story about Ford's proud but desperate struggle to survive, on it's own two feet and do what it has to get it's costs and financial situation in order without major government handouts.

The problem is that now it faces two major domestic rivals and a world of other car companies in which handouts and bailouts are the norm. Most likely they will have to throw in the towel and dance to Obama and the Car Czar's crazy tune.

"That was when the car market crashed and the auto companies began burning through huge amounts of cash. A month later, Mr. Mulally was in the spotlight — along with G.M.’s chairman, Rick Wagoner, and Chrysler’s chairman, Robert L. Nardelli — during Congressional hearings on Detroit’s financial woes.

Mr. Mulally said Ford never intended to ask for federal help but needed to support the industry during its crisis.

“From Day 1, we had no desire to access the government money,” he said.

Ford parted ways with G.M. and Chrysler in December, when its two rivals effectively came under government supervision as part of their loan agreements.

Last month, the presidential task force forced Mr. Wagoner to resign at G.M. and began an effort to replace the company’s board.

Meanwhile, Mr. Ford, whose great-grandfather founded the auto company, and Mr. Mulally continue to pursue their long-range turnaround plans."

Give up Ford and learn the lesson Obama and people like him are teaching us all. Failure is the new path to success.

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