Ford Bailout and Restructuring Success...5000 NEW JOBS

[glenn kangiser]

Just goes to show... the bailouts finally had a positive effect...even when many of us thought we were ripped off......

Ford has started construction on a $1 billion manufacturing and engineering complex on the site. The complex will create 5,000 jobs and be able initially to produce 240,000 vehicles and 270,000 engines a year from 2014, Ford says.

Ford Creates 5000 new jobs after The Big Bailout.....Faith my friend...faith in our leaders

[johnecash]

Glen,

I thought that Ford declined the bailout money?

  -J.C.-

[Squirl]

The last I heard Ford didn't get bailed out.

http://money.cnn.com/2011/08/02/autos/fords_brilliant_bailout_plan_may_hurt.fortune/index.htm

I don't blame them for opening plants in India and China.  Much of their profits are coming from those markets.  I love how people say that huge corporations aren't opening in the U.S. because of regulation.  Look at the Indian and Chinese government requirements and U.S. companies have a great deal in the U.S..  The chinese require almost all companies selling in China to open a plant there and all companies doing business in china must be 50% owned by a chinese company.  The Indian government is as corrupt as the russians and requires constant and huge kickbacks. Corporations are still lining up.

[glenn kangiser]

I was about to say you were right upon further research about Ford, but I guess it depends on how you look at it.  Seems they did get taxpayer money.

http://blogs.cars.com/kickingtires/2010/12/report-ford-took-federal-funds-too.html

In talking on Skype to a professor in China I learned that the corporations only need to partner with a Chinese company for about 6 years as I recall, but the partnership may be beneficial to them anyway. 

The communism in China is more of a Socialism according to my Chinese friends and there are also Chinese socialist capitalists who are getting extremely rich right now.  They play golf, go on business trips and have meetings just like their American counterparts. 

The profits made in China and India do not benefit the middle class worker or Americans to speak of. Our economy is in the crapper and Wall Street is in the midst of civil war right now with lawsuits against each other.  (Not specifically auto makers).  The huge profits from outsourcing have nothing to do with concern for the US Citizen and everything to do with fat corporate profits for the Corporate food chain.  Investors may get a bit of trickle down while the workers here are left without jobs.  Corporations are people who do not give a damn about the peasants necessary to keep them operating.  They can be Indian, Chinese or any other cheap source of labor.

I do not hold this against the people of these countries.  This is our own US monster.  I have many friends all over the world including India and China.  Globalization is not a friend of the American middle and lower class worker, but we may as well go along with it as we have allowed it to go that way through our allowance of so much corruption in our self serving leadership.  I realize that there is little we can do in reality.  We are only serfs.  We can whine though. 

[Ajax]

I was about to say you were right upon further research about Ford, but I guess it depends on how you look at it.  Seems they did get taxpayer money.

http://blogs.cars.com/kickingtires/2010/12/report-ford-took-federal-funds-too.html

That's most likely not taxpayer money, but money from the FED.
From the link

funds to the automotive lending companies totaled just $57.9 billion out of $3.3 trillion in TARP funds

This is incorrect, TARP was less than $800 billion.  But talking those types of numbers again leads back to the FED.