From The Detroit News.....
DEARBORN -- Ford Motor Co. is super-sizing the financing package it announced last week and now plans to increase its borrowing capacity by more than $5 billion to as much as $23.5 billion.
Ford on Wednesday cited "overwhelming support by lenders" as the reason behind the move, but investor worries about the automaker's debt burden drove its shares down 4.2 percent.
I’m not sure how to react to this, while it’s good to see Ford moving forward with its restructuring plan it’s saddens me to see them revert to putting up all it’s assets to secure the loans that Ford needs to remain in business while it tries to turn itself around.
The UAW also appears to be a looming problem on the horizon, I just don’t see how the UAW can even try to force any kind of an unfair position, the company is in dire straits and needs to get its house in order.
Link
Joe
DEARBORN -- Ford Motor Co. is super-sizing the financing package it announced last week and now plans to increase its borrowing capacity by more than $5 billion to as much as $23.5 billion.
Ford on Wednesday cited "overwhelming support by lenders" as the reason behind the move, but investor worries about the automaker's debt burden drove its shares down 4.2 percent.
I’m not sure how to react to this, while it’s good to see Ford moving forward with its restructuring plan it’s saddens me to see them revert to putting up all it’s assets to secure the loans that Ford needs to remain in business while it tries to turn itself around.
The UAW also appears to be a looming problem on the horizon, I just don’t see how the UAW can even try to force any kind of an unfair position, the company is in dire straits and needs to get its house in order.
Link
Joe
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