From Automotive News….
DETROIT -- Ford Motor Co. said today that it plans to obtain a financing package totaling $18 billion to help fund its restructuring. The automaker said it expects to complete the package by Dec. 31. Upon completion, Ford Motor expects to boost the liquidity for its automotive operation to approximately $38 billion, consisting of cash and available credit lines.The extra money will provide a liquidity cushion against a recession or other unanticipated events, Ford said in a prepared statement. It also will address negative cash flow. As much as $15 billion of the financing packaging will be secured with Ford's automotive assets, the company said.
Wow, Ford has finally managed to secure financing while it tries to pull itself up by the bootstraps, the best solution of course for avoiding situations like this is to make a winning product line that sells well and then Ford can avoid ever having do this again.
Joe
DETROIT -- Ford Motor Co. said today that it plans to obtain a financing package totaling $18 billion to help fund its restructuring. The automaker said it expects to complete the package by Dec. 31. Upon completion, Ford Motor expects to boost the liquidity for its automotive operation to approximately $38 billion, consisting of cash and available credit lines.The extra money will provide a liquidity cushion against a recession or other unanticipated events, Ford said in a prepared statement. It also will address negative cash flow. As much as $15 billion of the financing packaging will be secured with Ford's automotive assets, the company said.
Wow, Ford has finally managed to secure financing while it tries to pull itself up by the bootstraps, the best solution of course for avoiding situations like this is to make a winning product line that sells well and then Ford can avoid ever having do this again.
Joe
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