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 - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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