facebook
twitter
rss
account
search
search
 

Ford exec: As GM goes, so goes industry

Dec. 3, 2008 at 7:38 PM   |   Comments

WASHINGTON, Dec. 3 (UPI) -- Ford chief executive Alan Mulally told The Washington Post Wednesday that if GM goes bankrupt, the rest of the U.S. auto industry will follow.

In a meeting with Post editors and reporters, Mulally said, "We really believe that if GM goes into bankruptcy, it will take the industry into bankruptcy."

Mulally, who came from Boeing to take over Ford in 2006, and the heads of the other Big Three automakers were in Washington to appear before committees in the Senate Thursday and the House on Friday, asking for $34 billion in bailout funds.

Mulally has said Ford is in good shape and doesn't need a federal bailout, unless the economy gets much worse, so Ford is asking only for the ability to access up to $13 billion in bailout money over the next year.

"We see recovery starting in 2010," Mulally said.

Mulally and the other auto execs drove to Washington in hybrid vehicles instead of flying in corporate jets.

Topics: Alan Mulally
© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Some iPhone users getting checks for liquid damage Some iPhone users getting checks for liquid damage
2
Boeing announces job relocations, business unit consolidation Boeing announces job relocations, business unit consolidation
3
Outrage over FERC decision on LNG exports Outrage over FERC decision on LNG exports
4
Coca-Cola company, other soda makers, pledge to cut calories Coca-Cola company, other soda makers, pledge to cut calories
5
Thailand requests FMS sale of Lakota helicopters Thailand requests FMS sale of Lakota helicopters
Trending News
x
Feedback