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Ford was the only one of Detroit's three automakers able to avoid taking a direct government bailout in 2009 to bypass bankruptcy. However, that doesn't mean it hasn't been able to benefit from some government largess.

Ford ended the first quarter with a knee-wobbling $34 billion in debt, but the Blue Oval has been making good on its bills in impressive fashion over the past three months. The automaker has paid off $7 billion in loans in the second quarter, saving the company $470 million in annual interest payments.

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