Take my factory, please...

I've said it before, that one of the Big Three will not be within the coming 5 years. I may be overly pessimistic, and I certainly hope I am wrong but I am not optimistic. Today Ford announced it would leverage its assets as collateral for an 18 billion dollar loan. Do you understand the magnitude of that loan?!? Not only in the amount by cash but in the degree of risk? I shutter to think what will happen if things turn more sour, as if that is possible. One question however, if Ford cannot sell-off some of its facilities now, why would anyone want them for collateral?

At the same time tonight is the deadline for eligible employees of Ford to accept buy-outs. The hope is sufficient numbers will leave the payroll to at least eliminate the jobs bank, and allow for future plant closures without the usual pain. Of course tomorrow begins the lay-offs to make up the difference if enough haven't decided to leave. I know there will be lay-offs at my office this week, I think I will be OK, but you never know.

It's a great time to work in the auto industry.