Ford Bails Itself Out

Don Surber of the Charlston Daily News:

After posting record losses in 2008, Ford posted a $2.7 billion profit for 2009, the Detroit Free Press reported.

This was a stunning improvement of $17.4 billion from that loss of $14.7 billion in a single year.

That was without the $50 billion taxpayer subsidy that GM received. The tax subsidy — bailout — is unconstitutional and contrary to the international trade agreement promises that the United States has made to avoid subsidized automobiles.

“Ford, which has been criticized by the UAW for reinstating merit pay and other benefits for its salaried workforce, also said Thursday that it will pay profit sharing to 43,000 eligible U.S. hourly employees,” the Detroit Free Press reported.

Checks of $450 each will go out in March. The bailout cost every person in the United States $167.

I’ll never buy a Government Motors car. I always liked Fords anyway.

Commenter Imacyborg at YouTube

There’s no such thing as government job creation. The government has no money, only the money it takes from the private sector. Every time the government extracts resources from the private sector, it destroys productive private sector jobs in favour of unproductive government jobs.

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