Wednesday, April 8, 2009

Ford in uphill challenge despite cutting debt $9.9 billion


Posted by Yen Ho
Written by Kendra Marr

The good news: Ford announced yesterday that it cut its debt by $9.9 billion.

The bad news: Analysts say the automaker's finances could still crumble later this year despite the aggressive restructuring.

While Ford has strived to set itself apart from its struggling Detroit rivals, who have turned to the Treasury Department for federal loans, it must tackle the same economic slump that has dragged down the entire industry.

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