Ford Chairman and Chief Executive Bill Ford Jr. said the Detroit auto industry is in a “precarious” situation, but does not see bankruptcy as a risk at Ford, reports Reuters. “We don’t see it at all,” Mr. Ford said when asked if it were possible the company would seek Chapter 11 bankruptcy protection. Ford said that the company remains profitable and has plenty of cash. “We have got just one big problem, and it’s the U.S. auto business, and we’re going to fix that,” Ford said.
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