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