Good News From The Auto Industry

[dalakhani]

Or maybe we can build better mass transit? Or maybe we can improve our snow removal system? Maybe a million things...

Like it or not, and i dont always agree with Riot, but we are in a brave new world. The old paradigm is indeed gone forever. American Society is changing and the way we view debt, credit and consumption will never be the same.

And Ford DID ask government help and DID use it in the form of TALF.

As far as non talf, Ford basically is issuing junk bonds to restructure its debt. Their old debt load was crushing. They had liquidity but some big notes were coming due. They just pushed it off into the future (back to the old ways) and are hoping that there is a serious rebound.

The good news? There was actually a market for the debt!