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 Staff
Posted Dec 22, 2008 9:05 AM CST
Ford Scores PR Cred by Declining Bailout Cash
Ford Chief Executive Officer Alan Mulally testifies on Capitol Hill in Washington, Thursday, Dec. 4.   (AP Photo/Gerald Herbert)

(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.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.