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.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Tractor Hydraulics - The Basics - by Curtis Von Fange. Hydraulics was one of the greatest inventions for helping man compound the work he can do. It’s amazing how a little floor jack can lift tons and tons of weight with just the flick of a handle. What’s even more amazing is that all the principals of hydraulic theory can be wrapped up in such a small package. This same package applies to any hydraulic system from the largest bulldozer to the oldest and smallest tractor. This short series will take a look at the basic layout of a simple hydraul
... [Read Article]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
