Ford makes statement on GM bankruptcy, hopes for level playing field

[wickedstangs]

<p>Filed under: <a href="http://www.autoblog.com/category/ford/" rel="tag">Ford</a>, <a href="http://www.autoblog.com/category/gm/" rel="tag">GM</a></p><img vspace="4" hspace="4" border="1" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2009/06/80389542-580op.jpg" /><br /><br />While all eyes are on General Motors, its <a href="http://www.autoblog.com/2009/06/01/officially-official-gm-files-for-chapter-11-bankruptcy/">Chapter 11 bankruptcy</a> filing and the additional $30 billion in loans the automaker will receive from the US government, FoMoCo doesn't want the Obama administration to forget the Blue Oval is restructuring without the help of the federal government. And the Blue Oval issued a press release asking for a level playing field going forward.<br /><br />Ford mentioned that it would like to see a quick resolution to GM's bankruptcy filing, and it made a point to remind the White House that a healthy supply base is equally important. Then, Ford got right to the point with its biggest issue. <br /><blockquote>"We look forward to working with the Obama administration to ensure that the government's majority ownership of GM will not change the industry's competitive dynamics and that a level playing field will be maintained."</blockquote> Since the new GM will be owned principally by the US government, Ford has reason to be concerned. And with nearly $20 billion in government loans that may never be repaid, a level playing field could already be out of the question. Ford has also lost billions over the past couple years, and since it mortgaged all its assets to steer clear of federal assistance, the Dearborn automaker will have to repay every penny or risk losing everything. Hit the jump to read Ford's release.<br /><br />[Image Source: Bill Pugliano/Getty]<p><a href="http://www.autoblog.com/2009/06/01/ford-makes-statement-on-gm-bankruptcy-hopes-for-level-playing-f/" rel="bookmark">Continue reading <em>Ford makes statement on GM bankruptcy, hopes for level playing field</em></a></p><p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2009/06/01/ford-makes-statement-on-gm-bankruptcy-hopes-for-level-playing-f/">Ford makes statement on GM bankruptcy, hopes for level playing field</a> originally appeared on <a href="http://www.autoblog.com">Autoblog</a> on Mon, 01 Jun 2009 18:58:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2009/06/01/ford-makes-statement-on-gm-bankruptcy-hopes-for-level-playing-f/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19053928/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/06/01/ford-makes-statement-on-gm-bankruptcy-hopes-for-level-playing-f/#comments" title="View reader comments on this entry">Comments</a>


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[ears]

so my question is how is the government buying majority of gm??? i thought that was a commi kinda thing!! how is ford ever gonna compete with the govi!!! this really dont make too much sence to me!! if anyone has a bit of insight then please clarify for me!!

 

[spdpilot]

Government Motors..... Ford is screwed. If Ford kicks their butt, do you think the Government is going look stupid by losing all the taxapayer money? Hell no, they are going to do what anyone with that much power would do, leverage the power and crush the competition.

This is a fundamental breakdown of the free market system. Free as in, no government intevention. Reminds me of the cold war when the USSR set up "Businesses" to make cars. They looked like real businesses, but really they were just Government made cars. And look at the crap they cherned out! People drove what the government gave them.

I never thought we would see the day. Government owns all these businesses and owns all the banks. If it is accepted now, they will just own more and more.

 

[BadBullitt]

so my question is how is the government buying majority of gm??? i thought that was a commi kinda thing!! how is ford ever gonna compete with the govi!!! this really dont make too much sence to me!! if anyone has a bit of insight then please clarify for me!!

Of course it doesn't make sense ,this is the F..ing Obama administration and this is a Commie kind of thing.Government Motors.....WTF!

 

[ears]

thats what i thought, its a socialist movement!!! which is completely against the constatution!!! who knows of a way to put this down??? or do we have to wait 4 years?? man o man, when obama said change, he sure meant it didnt he!!! f this bs man!!! i dont even see how this can be done in the first place, who can ok this!!! and how the hell did it get all the way through capitol hill without getting shot down!!! i mean i know polatitions are retarted, but could they really be that stupid!!! this is illegal!!! or so i thought!!

 

[sdsubzero4]

It call majority rules and the Democrat has the majority of congress and pretty much whatever Obama wants, Obama gets! Suks for us but great for them.

 

[ears]

but how do they get by with doing that when its against the law???
and what can we, the people, do about it???

 

[sdsubzero4]

They are not really breaking the laws. GM filed for bankruptcy and GM decides to sell their brands to people willing to pay for it. Its the capitalist systems. In this case, GM sold to the government. One way we can change all this is next year, we can vote out all the Democrats in the House because its election time for the House of Representatives. In this country, we vote out the representatives who we are not satisfy with and put in those who we think will do the job for us. That's how we correct this mess.

 

[ears]

yea this is a capitolist society, but its not supposed to involve the government,,,,, that would be socialist!!!! and we are not a socialist society!!! so....

 

[sdsubzero4]

Vote them out at the next election!!!

 

[Shane361]

Just how does the gov get the money to buy 60%...tax payers rite..not their money to do so. Most socialistic move in our history and the start down a very dark road.-Shane

 

[ears]

x2!!!! man we need to get these fu*ckers out of office!!! this is redonkulous man!!!i think my go to slogan for this thread is gonna have to be!!!>>>>>>

 

[Shane361]

Not sure there will be a reverse to out country after 4 years of this. All I can say at this point is "FOR THE BETTER OF THE COUNTRY". If that dont makes sense...just ignore it.-Shane

 

[ears]

i still dont see how this can happen!!! i thought that the government buying buisness like this was illegal, and not even to mention,,,,,, wrong!!!!so even though danny tried to explain a bit i dont get it!!! i dont understand how our GOVERNMENT can blaintntly ignore the law!!! and how this came about!!! i mean i obviously know that gm declared bankruptcy, and the gove bought them, but i mean how do they get around the constatution so easily!!!>
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[Shane361]

I think a socialistic plot was cloaked under the veil of the STIMULAS PLAN. Like I said, he is an illegal immigrant terrorist deep in the plot and idle Americans are allowing the demise of this county cause they want change. Ignorant Americans that voted him in and ignorant Americans that will allow this autrocity to continue.-Shane

 

[ears]

ill bet those stupid fu*ckers are kickin themselves now!!!:shot: man i wish there were something that we could do right now!!!! oh and >
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[Shane361]

Yeah I got a feeling all the Republicans are "I told you so" and the Democrats are wondering "what they hell did I do?":dontknow:

 

[Fighting Sailor]

NO, the Democrates are very smug about thier president. They think all this is wonderful! The liberal mindset is such that they twist any situation into a positive for them... Remember when Clinton got a hummer in the oval office? They applauded him for his forthrightness and "humanity"!!! essentially he was a hero in thier eyes! Hillery was applauded for "standing by her man", the fact is that each had enough dirt on the other to bury them.... It is the clinton political machine (backed by the liberal media) that put this guy in office. The clinton's started to sell us off to the Red Chinese, now Obama will finish what they started.... Welcome to the USSA!!!

 

[spdpilot]

i still dont see how this can happen!!! i thought that the government buying buisness like this was illegal, and not even to mention,,,,,, wrong!!!!so even though danny tried to explain a bit i dont get it!!! i dont understand how our GOVERNMENT can blaintntly ignore the law!!! and how this came about!!! i mean i obviously know that gm declared bankruptcy, and the gove bought them, but i mean how do they get around the constatution so easily!!!>
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It is not as illegal as you might think. Now "if" the justice department wanted to make in very uncomfortable for them to own businesses, they could. But I don't see that happening.

The government is set up with checks and balances between the branches. But the system is failing right now.

People are not upset about this because most of them want this. At least that is what the election is saying. Everyone who voted for him was warned. Yes, it is sad.

Like Subzero said, get out and vote. I still believe in our system and I really believe in the long run that people will see this for what it is and the left wing is going to have a back lash of such proportion that they may never see one of their guys in the office of the President for a real long time.

Really a President doesn't have nearly as much power as the legislative branch does. He only does what they allow him to get away with. The real impact happens when you vote for congress and senate candidates.

None the less, everytime we swing this far left, we lose a little something that we never really seem to get back. These are scary people to me, but our power is in the vote. SO GO VOTE!! Be vocal!

 

[spdpilot]

NO, the Democrates are very smug about thier president. They think all this is wonderful! The liberal mindset is such that they twist any situation into a positive for them... Remember when Clinton got a hummer in the oval office? They applauded him for his forthrightness and "humanity"!!! essentially he was a hero in thier eyes! Hillery was applauded for "standing by her man", the fact is that each had enough dirt on the other to bury them.... It is the clinton political machine (backed by the liberal media) that put this guy in office. The clinton's started to sell us off to the Red Chinese, now Obama will finish what they started.... Welcome to the USSA!!!

Hopefully we don't allow this go too far! China and Iran are the issues that concern me. I think the liberal leadership will take care of itself here, but if we allow China and Iran to get to much authority over us (Like China paying off our debt), then that could be very dangerous. Oh how the liberals want them all to love us. Group hug?? Sure!! Hey, what is that under your shirt??!!! I thought you liked us now?

A hard lesson it will be.