Hackett to retire 1 October, Jim Farley to become CEOThe option to go chapter 11 was there for Ford too but the Fords refused to give up control of the company.
A failed GM was not an option for the industry or the government, it was a lender of last choice and still got burned $10 billion on sales of stock..
In an alternate reality,
Ford could have gone CH11, dumped all its debt and bad assets on Mercury, fired 40,000 workers and emerge from bankruptcy almost debt free like GM did.Wed, 05 Aug 2020 23:25:05 +0000
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