Ford Refuses Bailout Aid

Ford has had it's worst year ever with a loss of $14.6 billion in 2008. But the company refuses to let the government aid them with bailout money. Competitors like GM and Chrysler are involved in the bailout. Ford says they have enough liquidity to stay afloat. But at the end of 2008, Ford had $24 billion in cash on hand and a debt of $25.8 billion (more debt than assets). So why is the company not involved in the bailout? Ford believes that the economy will improve in the months to come. Some analysts believe the economy will get better around July, but how can they know that? Ford will continue to support themselves during these hard times until the economy significantly worsens or one of their competitors files for bankruptcy protection. If the economy continues into this recession, it will be the longest on record since the Great Depression of the 30s. Because most of my class is graduating in May, this recession is an important factor for us. Are we going to be able to get jobs in retail? Will the economy start to stabilize in the coming months? I am kinda worried, but only time will tell! Props to Ford for refusing government aid when that money can be used elsewhere. I really hope things work out for the company that made the automobile popular!