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Ford Scores PR Cred by Declining Bailout Cash
By not begging to feds, but supporting Detroit mates, company well positioned
By Jim O'Neill
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Posted Dec 22, 08 9:05 AM CST
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(Newser)
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Ford’s decision not to take any of the $17.4 billion in bailout cash granted General Motors and Chrysler is paying the company public-relations dividends that could translate into cash in its showrooms when the economy recovers, Advertising Age reports. It was also a good move, analysts say, to put out statements supporting its Detroit brethren.
Ford CEO Alan Mulally says his company can survive without help through 2009 and asked for a credit line only if the economy worsens severely. “To be able to look America in the eye and say, ‘We’re in a position where we don’t require a helping hand in this time of need, and thank you for offering it, but we will pass,’ shows a lot,” one analyst said.