Ford — the only domestic auto manufacturer that didn’t take a federal bailout — is doing well and hiring people. Gee, how’d that happen?
Ford’s ability to operate profitably represents the success of its strategy started in 2006, when the company mortgaged most of its assets to borrow $23.5 billion. It used the funds to restructure the business so that it could weather the economic downturn and eventually return to a growth mode.
Ford stood out in the recession as the only domestic manufacturer not to file for bankruptcy protection and become a recipient of a federal bailout.
The upswing is translating into more jobs. Ford said earlier this year that it would hire about 5,000 workers at its U.S. factories.
Workers also will get a slice of the automaker’s profits.
