Ford’s (F) comeback from the brink of bankruptcy has become more official with the announcement from Moody’s that they have upgraded Ford to investment grade. This is a fabulous accomplishment as Ford didn’t need to declare bankruptcy despite the worst recession since the “Great Depression.” I believe Ford’s template will likely be a case study in business schools across the country, but history shouldn’t forget that if it weren’t for the bankruptcy filings of GM and Chrysler, it is unlikely that Ford would have gotten the concessions from the UAW needed to avoid filing bankruptcy themselves.
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