Actually Ford's financial position has greatly improved in the last 2 years. In 2008 they were mortgaged to the hilt but more than half of that has been paid back in the last couple years.
The thing to remember is they actually borrowed more than they needed from the markets in 2007 and early 2008 and then borrowed some from the Fed when they were handing out cash. While the rest of their balance sheet looked horrible they had a huge amount of cash on hand to meet immediate cash needs (and then some) - something the other automakers didn't have and couldn't get when the credit crunch came. Kind of like getting a huge cash advance on your credit card before the credit card company cuts you off. The boys running Ford knew what was coming and made plans to deal with it.
Chief Financial Officer Lewis Booth announced the action earlier this week at an investor presentation in Frankfurt, Germany. Ford spokesman Todd Nissen confirmed that the payment was made Thursday. Ford's total debt now stands at $12.2 billion, down from $33.6 billion at the end of 2009.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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