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Archive Home > 2009 > April > 09 > A brilliant bet

A brilliant bet

When Ford took out billions of dollars in loans for an overhaul in 2006, nobody knew it would be the company’s salvation

By Bill Vlasic / The Bulletin
April 9, 2009

DEARBORN, Mich. — On Nov. 29, 2006, Ford Motor made a surprising pitch to the nation’s biggest banks. In a packed ballroom at a New York hotel, Ford’s CEO, Alan Mulally, said he would mortgage all the company’s assets for billions of dollars in loans to....

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