Financing Questions Still Dog Ford
When a Goldman Sachs analyst questioned the true cost of aggressive financing plans at Ford (F Quote) and General Motors (GM Quote) last week, it was a man-bites-dog story: Rarely does Wall Street snap so deeply into the hind quarters of corporate America. But now one of those dogs, Ford, has bitten back.
In a filing with the Securities and Exchange Commission, Ford says that the Goldman report overestimated the impact on cash numbers of finance incentives, like 0% loans, that have substantially boosted consumer auto demand over the past year.
Even if that's so, however, Ford's case in its defense is lacking in details on some important questions, which could feed further distress on transparency-crazed Wall Street. Ford, already in investors' bad books because of lackluster sales and market share performance, rose a dime on Wednesday, to $11.
Keen
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