SUBSIM Radio Room Forums - Ford Cuts Debt By $9.9B On Tender Offers,Cuts Interest Costs

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Ford Cuts Debt By $9.9B On Tender Offers,Cuts Interest Costs

http://online.wsj.com/article/BT-CO-20090406-708248.html

Quote:

Ford Motor Co. (F) said a refinancing would cut $9.9 billion from its debt in a move that stokes pressure on rival General Motors Corp. (GM) to secure a deal with its creditors.
The cash and equity offer launched by Ford last month received a better-than-expected reception from its creditors, cutting an annualized $500 million in interest expenses.
Ford and its rivals are still struggling under the weight of falling global auto sales, and the move will help the company's stated aim of avoiding any resort to U.S. government aid.
The company has managed to take advantage of efforts by GM and Chrysler LLC (C.XX) to reach deals with their stakeholders to secure further U.S. support.
Ford has already reached a deal with unions to restructure commitments to a union-run health-care plan.
"Ford is upstaging GM with what its doing, said Pete Hastings, senior analyst at Morgan Keegan. "It's handling things more smoothly than GM and accomplishing what it needs to do without the government getting involved.

:woot: My Ford stock is up to $3.50+ :woot:

I've been watching Ford since the beginning of all this bailout business.

They seem (Ford) to have a handle on this that the other two don't seem to get. :hmmm:

Quote:

pressure on rival General Motors Corp. (GM) to secure a deal with its creditors.

Now whom would that be? :-?

Is this what they mean my 'management':hmmm: Perhaps Wall Street could sit in on a session as well as Freddie Mac and Fannie Mae. Good for Ford. I will keep driving my Lincoln and Mountaineer. :D

Oh oh oh!! I am so happy!! :woot::woot::sunny::()1:

Ford Posts $2.3 Billion Profit

Quote:

Ford returned to profitability in its second quarter, thanks to a one-time gain, and slowed its cash burn amid speculation that it may issue more equity to reduce its debt.

My stock hit $7 today! Woot, I can buy a new shirt!

Ford is up, GM is down.

Now whats the difference between these two corporations?