Ford says does it not need short-term loans from bailout
Ford Motor Co. said Friday it would not need a short-term loan from the government, but lauded the Bush administration's decision to extend aid to its cash-strapped competitors and renewed a request for a nine billion dollar line of credit.
"We do not face a near-term liquidity issue, and we are not seeking short-term financial assistance from the government," Ford president and chief executive officer Alan Mulally said in a statement.
Ford said it hoped to restructure its business without government assistance but requested the nine billion dollar line of credit as a "critical backstop or safeguard against worsening conditions."
The US government announced earlier Friday it would provide ailing automakers with 13.4 billion dollars in short-term financing in support of their restructuring, setting strict conditions to prove their viability
I applaud ford and will continue to buy their trucks.....