No they did not. Ford took out a mess of loans that were backed by the US government. Near 6 billion dollars that they are paying back. They even had their "Blue Oval" trademark in the pawn shop for awhile but finally paid up and got it back.
The last accounting for GM that I read comes to we tax-payers being out 15 billion dollars. Not exactly "chicken feed." Some sources say 9, some 11, and others 15 billion. Technically, I think we lost 9 billion on GM that we will never get back and the US government has another 15 billion invested in what used to be GMAC finance company. Chrysler is completely gone as a US company. Sold for next to nothing to Fiat with an agreement to keep it going for X amount of time (I did not read all the fine print of that very convoluted deal). Chrysler and RAM are solely owned by Fiat of Italy.
I am not a huge Ford fan - or at least wasn't until recently. I give them credit for keeping themselves afloat and not whining to the US government to be bailed out due to gross miss-management like GM did.
I think every US taxpayer ought to get a huge price break on every GM since we all bank-rolled their incompetence.
I also question the logic that "jobs were save" by the bail-outs. That would only be true if . . . collectively . . . less people were going to buy cars if GM went under. I doubt that. The slack would of been picked up by another car company and it takes X amount of workers to make X amount of cars. I doubt ANY jobs would of be lost in the final total job count for the auto industry.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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