Ford CEO: Ix-nay on the ankruptcy-bay

While General Motors and Chrysler mull over a possible merger and rumors fly as to who is going to claim bankruptcy first, Ford is having none of that talk, and CEO Alan Mulally even stated publicly that seeking bankruptcy just wouldn't make sense for the company, stating, "“It absolutely doesn’t work for us. It doesn’t make sense to us,” Mulally told Automotive News. “People aren’t going to buy cars from bankrupt companies when they have great choices.”

True dat.

While the seven zero losses continue to build though, one has to wonder what exactly this company still has in mind. Ford has said that they have almost completed the restructuring that will position them back into the black, but that won't be any time soon. Mulally did not comment on any plant closure or job cuts at all, but you can bet that those are the first things that will happen if the company doesn't seek protection.

So, which is worse? Fighting to shovel water out of a sinking ship or just jumping on to a raft in front of millions who are probably wincing about such a thought? Either way, it's a no-win situation in the short term.

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