Tuesday, October 26, 2010

Corporate Welfare, Come Hell or High Water

Good news for them that's got:

Ford Posts 6th Straight Profitable Quarter

The Ford Motor Company said on Tuesday that it earned $1.7 billion in the third quarter and that it expected to have zero net debt by the end of December, one year ahead of forecast.

It was the sixth consecutive profitable quarter and the best third quarter in more than 20 years for Ford...

...Ford has been able to accelerate its turnaround, without much help from the economy, by not only selling more vehicles but increasing the average price buyers pay.

And for this they get a nearly half billion dollar tax break from one of the most economically hard-hit states in the union, and the chance to employ 900 workers at the bargain rate of $14 an hour in a state that lost more than 800,000 jobs between 2000 and 2009.

They've got the state pinned to the ground and they know it. Nice of Granholm to help them rape it while it's down there.