How ford survived the recession?
Answers
Answer:
On Nov. 29, 2006, Ford Motor made a surprising pitch to the nation’s biggest banks. In a packed ballroom at a New York hotel, Ford’s chief executive, Alan R. Mulally, said he would mortgage all the company’s assets for billions of dollars in loans to finance an overhaul of the troubled automaker. Although the economy was healthy then, Mr. Mulally said the money would give Ford “a cushion to protect for a recession or other unexpected event.”
At the time, the request was considered an act of desperation. But the $23.6 billion in loans it received turned out to be Ford’s salvation.
Answer:
hey mate here your answer:
among Detroit's, "big three" automakers , ford was only one that came out alive from the great recession ...... Tesla's elon musk ,for one , has predicted that the 116-years old automakers won't survive the next recession with the amount of industry disruption his electric car company it about to bring...
Explanation: