Did you Know Ford has got it's mojo back? Can you imagine a Ford Mustang with out the famous "Blue Oval" it just wouldn't be the same.Yes its true Ford regained control of its logo, 6 years after Ford mortgaged its famous Blue Oval logo along with other assets in an attempt to avoid bankruptcy. “This is one of the best days that I can remember,” Bill Ford said, on a conference call with reporters to celebrate the return of the assets. “This is enormously emotional for me personally and for my family.”
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This only means that the Detroit car maker is back on the track, with the highest first quarter profit since 2000. Ford had pledged to its lenders in a ground-breaking financial deal in 2006, pledge which provided $2.35bn in new loans, in the last minute before credit markets froze and the U.S. market fell into recession. Until 2006 Ford survived only by means of loans, while Chrysler and GM went bankrupt being saved by the US government.
Besides the blue oval logo, other pledged assets included factories and trademarks of the well-known F-150 pick-up truck and Ford Mustang. The risk of losing them made the company cut costs anywhere and everywhere they could. Congratulations to the Ford Motor Company and all the employees - its great to see you back on track to make solid earnings - now lets go and buy some Ford Motor Company stock - F
