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2 things though:
1) When there are other large companies doing decently considering the state of economy that are a good buy right now, why fart around with the big 3 and try to decide if bankruptcy>then reorganize blah blah...don't think $1.40 a share will turn into $24 anytime soon.
2) When Mulally was brought in from Boeing by Bill Ford, Mulally clearly stated that a plan was needed with some amount of time (I think he said like 2 years) to turn Ford around, and if it couldn't be done, the decision would be to liquidate the assets to maximize what shareholder value is left, and that's the unfortunate end. Clearly they are close and NOW they are in front of congress with their hands out...
I found it humorous when Mulally was asked by the congressional committee if he's be willing to take a paycut...I would have told the senator "I will work without pay if you will because your return to the US citizens is FAR worse than that of Ford to its shareholders."
The auto execs need to grow some stones. And quick.
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'84 Carrera Coupe
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