Ford Gets 9.2 Billion Bailout errrr Loan

BB_TX wrote:

StonedPanther wrote:

BB_TX wrote:
Lot of difference between a loan to a financially stable and viable company and giving money to one that is not.

Sure is LOL
……….

Ford had a $2 billion loss in expected profits, and yet still had a year end profit of $10.4 billion. I call that financially stable and viable.

Fords $2 billion loss was due to their EV division and Quality issues resulting in too many warranty repairs. Ford's CEO Farley (who needs to be fired) stated it will rely on it's ICE division to financially support it's EV division while he lays off ICE division employees.

Part of doing business. Losses are accrued when starting up new products until they become profitable.

Bionic Man wrote:
Unfathomable amounts of $. There is no way to avoid the current “green” agenda.

No biggie,fed just prints more greenbucks
:B

FishOnOne wrote:

BB_TX wrote:

StonedPanther wrote:

BB_TX wrote:
Lot of difference between a loan to a financially stable and viable company and giving money to one that is not.

Sure is LOL
……….

Ford had a $2 billion loss in expected profits, and yet still had a year end profit of $10.4 billion. I call that financially stable and viable.

Fords $2 billion loss was due to their EV division and Quality issues resulting in too many warranty repairs. Ford's CEO Farley (who needs to be fired) stated it will rely on it's ICE division to financially support it's EV division while he lays off ICE division employees.

Direct oil and gas subsidies are far greater than $2b.

https://www.eesi.org/papers/view/fact-sheet-fossil-fuel-subsidies-a-closer-look-at-tax-breaks-and-societal-costs

The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year; with 20 percent currently allocated to coal and 80 percent to natural gas and crude oil. European Union subsidies are estimated to total 55 billion euros annually.

propchef wrote:



Direct oil and gas subsidies are far greater than $2b.

Huh?, the number is 9.2 Billion.


"The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year"

Wonderful. So they handout a subsidy to one corporation worth almost 50% of the subsidies handed out to an entire Industry which is hundreds of times larger? That's great...................for someone, the average taxpayer not so much.

Well, good for them. You'd think they'd be able to use some of the profits from their $100,000+ trucks everybody seems to be buying.

StonedPanther wrote:

propchef wrote:



Direct oil and gas subsidies are far greater than $2b.

Huh?, the number is 9.2 Billion.


"The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year"

Wonderful. So they handout a subsidy to one corporation worth almost 50% of the subsidies handed out to an entire Industry which is hundreds of times larger? That's great...................for someone, the average taxpayer not so much.

Read that again.

If you're OK with $20bb in subsidies for oil (that makes record profits every year) you should be OK with $2b to save jobs.

propchef wrote:

StonedPanther wrote:

propchef wrote:



Direct oil and gas subsidies are far greater than $2b.

Huh?, the number is 9.2 Billion.


"The United States provides a number of tax subsidies to the fossil fuel industry as a means of encouraging domestic energy production. These include both direct subsidies to corporations, as well as other tax benefits to the fossil fuel industry. Conservative estimates put U.S. direct subsidies to the fossil fuel industry at roughly $20 billion per year"

Wonderful. So they handout a subsidy to one corporation worth almost 50% of the subsidies handed out to an entire Industry which is hundreds of times larger? That's great...................for someone, the average taxpayer not so much.

Read that again.

If you're OK with $20bb in subsidies for oil (that makes record profits every year) you should be OK with $2b to save jobs.

You need to read it again.

The fossil fuel Industry employs somewhere in the neighborhood of 950,000 in the US. That's Oil/Natural Gas/Coal, which only includes extraction and processing, not the other millions of jobs in trickle down industries such as plastics, distribution, etc. Those are real jobs.

20 Billion \ by 950,000 = $21,052 per REAL JOB

A 9.2 billion taxpayer funded loan to a corporation, not an entire industry, which may/might/possibly;y CREATE 11,000 jobs maybe? $836,363.00 per POTENTIAL job

Well that's rich LOL.

Now a "loan" is not exactly a "subsidy" per se but come on man, you really believe the spew? If 3 batteries plants are going to be so great with 11000 jobs and "profitable" why is a taxpayer funded loan or subsidy even needed. Ive seen these government involved deals at all levels fail over and over again. How about Solyndra? How about Lordstown motors? read into that.

StonedPanther wrote:

BB_TX wrote:
Lot of difference between a loan to a financially stable and viable company and giving money to one that is not.

Sure is LOL

blt2ski wrote:
I see more positives than negatives to this loan. The chance that their is private money per say to do this is reasonably slim. Loans like this happen frequently in other countries.
Not saying one should or should not agree. Personally I feel this is a good thing.

Marty

Yes, plenty of positives. There is also plenty of positives to handing out 400 billion to pay towards peoples student loans. Loans that folks agreed to pay back when they signed on the line in order to attend classes such as "Lady Gaga and the Sociology of Fame" or "The Art of Walking"

Heres some more positives.

Chrysler built a huge factory in western PA in the late 60's/70's. The government stepped in with "help". Tax breaks, new highways, etc. The economy tanked in the early 70's and it never opened after all the taxpayer money was spent.

In the 80's Volkswagon moved in that plant with government help. 10 years of tax breaks, etc. They built the Rabbit there. 10 years later the tax breaks ended, Volkswagon moved back to Germany. At least the taxpayer did not put money out on the front end LOL.

Then along came Sony and moved into that plant. The same type of government deal. 10 years almost to the day and the tax breaks ran out, Sony closed down and moved those operations back to Japan.

Right down the road Phillips built a new factory with government help about 10 years ago. Its closing down June 30th, jobs moved to Mexico.

The Government has never generated so much as one cent of income.

Plenty of positives indeed.

Sounds like a union infestation...

The amount of money they give up by giving corporations tax breaks for moving their manufacturing is chump change compared to the taxes they collect off the workers who work there.