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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, Newser User

Posted Dec 22, 2008 9:05 AM CST

(Newser) – 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.

[Images (4)]

[Quotes (1)]

Ford Chief Executive Officer Alan Mulally testifies on Capitol Hill in Washington, Thursday, Dec. 4. (AP Photo/Gerald Herbert)

Ford CEO Alan Mulally speaks at the New York International Auto show, April 4, 2007. (AP Photo)

Ford vehicles sit on a Ford dealers lot in Zionsville, Ind., Dec. 10. (AP Photo)

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That they have actually come out and supported two very bitter but worthy competitors says as much about the corporate culture as anything. - Doug Spong, advertising exec

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Ford Scores PR Cred by Declining Bailout Cash