Why save the American Automakers

Why save the American Automakers - Colin Fleming ACCT 116A...

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Colin Fleming ACCT 116A Why save the American Automakers? It has been difficult to turn on the television, pull up a website or listen to the radio without hearing about the impending bankruptcy of “the big three”. We all know that the industry itself nearly built America into what it is today, but at what point should they throw up the white flag? Should they at all? From a thirty thousand foot level, it is apparent that we must do all within our rights to save the hundreds of thousands of jobs, Billions of taxpayer dollars and the pride of our nation. We must also acknowledge that there is an eventual point of no return, one which may be nearing soon, or here already. Of the “Big Three”, Ford appears to be the most likely to survive; while GM and Chrysler are fending off Bankruptcy, Ford’s stock price has quietly risen 131.48% since President Obama took office and is the second best performing stock in the S&P 500 since election day (CNBC). Ford is however certainly not without it’s challenges however, globally defining it’s brand has been a challenge in addition to servicing the $30 Billion loss the company has posted over the past three years. A key element in Ford’s relative strength is the automaker borrowed more than $23
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This note was uploaded on 08/28/2010 for the course ACCT 101 taught by Professor Tuttle during the Spring '09 term at San Diego.

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Why save the American Automakers - Colin Fleming ACCT 116A...

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