We just felt that this story needed a follow-up since the industry has had some time to digest the news. Bill Ford Jr. released a statement to Ford employees to express his feelings against the pessimism about the U.S. auto industry. He did say, "Successful navigation of the path forward will require sacrifice and resolve." GM and Ford have plenty of cash and about $50 billion in credit lines between them, with no need for either company to sell bonds anytime soon. They have some time to turn things around.

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