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Not lucky, subsidized [1]. [1] Company with $15 million revenue in 2008 gets $465 million "loan" in 2009, https://techcrunch.com/2009/06/23/the-government-come

Not lucky, subsidized [1]. [1] Company with $15 million revenue in 2008 gets $465 million "loan" in 2009, https://techcrunch.com/2009/06/23/the-government-comes-through-for-tesla-with-a-465-million-loan-for-its-electric-sedan https://techcrunch.com/2009/06/23/the-government-comes-throu... https://www.statista.com/statistics/272120/revenue-of-tesla https://www.statista.com/statistics/272120/revenue-of-tesla Of course, Ford got $5.9 billion bailout, because capitalism is the lie profiteers tell to the wage slaves as they privatize profits while socializing losses.

ianai 3y ago
I’m not seeing reputable sources reporting ford got bailouts. Nor do I see ford on this list. https://projects.propublica.org/bailout/list https://projects.propublica.org/bailout/list
- ly3xqhl8g9 3y ago
  It's in the first paragraph of the linked article [1]. They were called "loans" in the government-speak of the post-2008 crash, but if you look at the semantics, they were just risk-free bailouts. [1] "the U.S. Secretary of Energy will be giving details about the first loans to come out of the government’s $25 billion program to help auto manufacturers. Ford got a $5.9 billion loan, but Tesla Motors, Silicon Valley’s electric car manufacturer, is receiving $465 million from the program"
  - dahdum 3y ago
    How is not a loan if they’ve been repaying it?
    - ly3xqhl8g9 3y ago
      Can I, just a random citizen, get a loan from the government for not even billions or hundreds of millions but let's say $100,000? I will of course repay "in due course, at the appropriate juncture, in the fullness of time" [1], at 0% interest. There is nothing loan-like in government "loans" (of 2008, or of 2021, see the PPP heist [2]) almost by definition: no interest, no shares changing hands, not even a share buyback restriction (how most of the government loans are spent anyway). [1] https://www.youtube.com/watch?v=iKYEUXlYcSI https://www.youtube.com/watch?v=iKYEUXlYcSI [2] "How Did PPP Scammers Steal $100+ Billion", https://www.aura.com/learn/ppp-loan-fraud https://www.aura.com/learn/ppp-loan-fraud
  - mediascreen 3y ago
    Bailout or not, the loan was however repaid nine years ahead of time in 2013. https://www.cnbc.com/id/100759230 https://www.cnbc.com/id/100759230
  - ianai 3y ago
    Looks like Ford argued for it in 2009 and in 2010 didn’t take it. https://thehill.com/homenews/administration/59862-rejecting-bailout-wins-political-capital-for-ford/ https://thehill.com/homenews/administration/59862-rejecting-... https://en.m.wikipedia.org/wiki/American_Icon:_Alan_Mulally_and_the_Fight_to_Save_Ford_Motor_Company https://en.m.wikipedia.org/wiki/American_Icon:_Alan_Mulally_...
    - ly3xqhl8g9 3y ago
      Just avoiding the inevitable I suppose: June 22, 2023, "Ford agrees to $9.2 billion US government loan" [1]. That's the joke in the end: there are no companies (and there is no government), just a bunch of chaebols [2], at least South Koreans don't lie to themselves. [1] "Ford previously took out a $5.9 billion loan under the program in 2009. That loan was fully repaid as of last year (2022), according to the DoE. [3]", https://edition.cnn.com/2023/06/22/business/ford-department-of-energy-loan/index.html https://edition.cnn.com/2023/06/22/business/ford-department-... [2] https://en.wikipedia.org/wiki/Chaebol https://en.wikipedia.org/wiki/Chaebol [3] https://www.energy.gov/lpo/ford https://www.energy.gov/lpo/ford
ajmurmann 3y ago
That's corporatism, not capitalism.
- poorlyknit 3y ago
  Real communism has never been tried!

ianai 3y ago

I’m not seeing reputable sources reporting ford got bailouts. Nor do I see ford on this list. https://projects.propublica.org/bailout/list https://projects.propublica.org/bailout/list

ly3xqhl8g9 3y ago
It's in the first paragraph of the linked article [1]. They were called "loans" in the government-speak of the post-2008 crash, but if you look at the semantics, they were just risk-free bailouts. [1] "the U.S. Secretary of Energy will be giving details about the first loans to come out of the government’s $25 billion program to help auto manufacturers. Ford got a $5.9 billion loan, but Tesla Motors, Silicon Valley’s electric car manufacturer, is receiving $465 million from the program"
- dahdum 3y ago
  How is not a loan if they’ve been repaying it?
  - ly3xqhl8g9 3y ago
    Can I, just a random citizen, get a loan from the government for not even billions or hundreds of millions but let's say $100,000? I will of course repay "in due course, at the appropriate juncture, in the fullness of time" [1], at 0% interest. There is nothing loan-like in government "loans" (of 2008, or of 2021, see the PPP heist [2]) almost by definition: no interest, no shares changing hands, not even a share buyback restriction (how most of the government loans are spent anyway). [1] https://www.youtube.com/watch?v=iKYEUXlYcSI https://www.youtube.com/watch?v=iKYEUXlYcSI [2] "How Did PPP Scammers Steal $100+ Billion", https://www.aura.com/learn/ppp-loan-fraud https://www.aura.com/learn/ppp-loan-fraud
- mediascreen 3y ago
  Bailout or not, the loan was however repaid nine years ahead of time in 2013. https://www.cnbc.com/id/100759230 https://www.cnbc.com/id/100759230
- ianai 3y ago
  Looks like Ford argued for it in 2009 and in 2010 didn’t take it. https://thehill.com/homenews/administration/59862-rejecting-bailout-wins-political-capital-for-ford/ https://thehill.com/homenews/administration/59862-rejecting-... https://en.m.wikipedia.org/wiki/American_Icon:_Alan_Mulally_and_the_Fight_to_Save_Ford_Motor_Company https://en.m.wikipedia.org/wiki/American_Icon:_Alan_Mulally_...
  - ly3xqhl8g9 3y ago
    Just avoiding the inevitable I suppose: June 22, 2023, "Ford agrees to $9.2 billion US government loan" [1]. That's the joke in the end: there are no companies (and there is no government), just a bunch of chaebols [2], at least South Koreans don't lie to themselves. [1] "Ford previously took out a $5.9 billion loan under the program in 2009. That loan was fully repaid as of last year (2022), according to the DoE. [3]", https://edition.cnn.com/2023/06/22/business/ford-department-of-energy-loan/index.html https://edition.cnn.com/2023/06/22/business/ford-department-... [2] https://en.wikipedia.org/wiki/Chaebol https://en.wikipedia.org/wiki/Chaebol [3] https://www.energy.gov/lpo/ford https://www.energy.gov/lpo/ford

ajmurmann 3y ago

That's corporatism, not capitalism.

poorlyknit 3y ago
Real communism has never been tried!