Posted by: David Kiley on August 29, 2008
I have heard alot of industry-speak, but I’m not sure what to make of this, as reported in Automotive News:
DENVER — Ford Motor Co. executives are telling lawmakers and other policymakers that suppliers as well as automakers are in critical need of low-interest federal loans soon.
Ford purchasing chief Tony Brown was part of the automaker’s pitch to policymakers here today at the Democratic National Convention.
But even Ford isn’t able to say what amount of federal money it needs.
“We’re still dimensioning,” Brown told Automotive News after chatting with Sen. Debbie Stabenow, D-Mich. He was accompanied by Bruce Andrews, Ford vice president of government affairs and a former Democratic congressional staff member.
Stabenow led the effort to add a provision to last year’s energy law authorizing $25 billion in loans for factory retooling to produce vehicles with fuel-saving technology.