Comments on: Ford sues IRS for $445 million

By: Scarface03

Scarface03 — Tue, 15 Jul 2008 17:47:02 +0000

xyunya,
Isn’t it true that cash is at least investable, whereas a tax credit exists only in an accountant’s ether?

By: Impulsive

Impulsive — Mon, 14 Jul 2008 23:54:01 +0000

… na-na, na-na-na …

By: zoomzoomer

zoomzoomer — Mon, 14 Jul 2008 23:34:00 +0000

I can teach you, but I have to charge..

By: xyunya

xyunya — Mon, 14 Jul 2008 19:24:03 +0000

Scarface03, cash in a bank or credit with IRS treated the same on the books. I am not an accountant, but if I remember correctly from graduate class, companies prefer tax credits then cash, since there are more possibilities with them. Cash is dead asset for corporation and looked upon negatively by investment community (it should be invested and making money). I guess situation is different at Ford, they are beyond investment community opinion.

By: Scarface03

Scarface03 — Mon, 14 Jul 2008 17:54:25 +0000

mayer_ray_nagin,
Hmm, a country without government. That’s a good idea. Get rid of your federal, state, and local governments, and you won’t have to send Osama a thank-you card, you could just hand it to him as he bursts into your house to exterminate your devilish existence.

xyunya,
From what I remember about your self-made stature, you have a better grasp of this than I, but when your company is circling the drain, I would imagine it’s better to see a half billion on a bank statement and not an accountant’s mysterious credit column. Ford probably wishes they could have just not made the overpayments, which would have been more money to them than just the interest they’re suing for now.

By: RaineMan

RaineMan — Mon, 14 Jul 2008 16:57:34 +0000

Wow… that is rediculous. You’d think they would have solved this issue years ago… then they could have made some more competent cars.

By: jumpoffit

jumpoffit — Mon, 14 Jul 2008 15:30:53 +0000

i wonder if i can still sue McDonald’s for making their coffee TOO hot for me hmmmmmmmmm

By: xyunya

xyunya — Mon, 14 Jul 2008 13:45:26 +0000

mayer_ray_nagin, politicians aren’t dumb. That is why Ford pays millions into PAC and creates PACs – to buy politicians. We have the best system money can bye.

By: mayer_ray_nagin

mayer_ray_nagin — Mon, 14 Jul 2008 13:30:00 +0000

Screw the federal government, and all the state and local jurisdictions too. I hope Ford wins. I hate governments, politicians, and anybody who depends too much on governments. I’ve said it before and I’ll say it again: “if osama had taken out congress while it was in full session, I’d have sent his ass a thank you card.” Dumb-ass politicians, all of them.

By: xyunya

xyunya — Mon, 14 Jul 2008 13:13:35 +0000

This 25 to 15 years old tax credits! Companies pay estimated taxes every quarter and settle at the end of the year and refile even later when financial picture becomes clearer with time. Suffice to say that most companies have those credits and usually don’t mind them. Furthermore, book value of some companies are only those tax credits and they are being bought as means to offset tax. Generally speaking, if company plans to stay in business and stay or become profitable – those credits is like cash. I reckon, Ford does not see its way out of debt or there are plans to sell the whole FoMoCo if they starting this silly game.

By: ihustle

ihustle — Mon, 14 Jul 2008 12:13:34 +0000

Are you guys crazy? Of the big 3 Ford is definately leading the way, and is the only one who is staying consistent with there sales #’s

By: JohnnyBlazE

JohnnyBlazE — Mon, 14 Jul 2008 11:14:53 +0000

zeecks right;

govt. and ford are in cahoots and this is the only way they can accomplish what has now been made illegal.

We are all Children of the Matrix

By: Carwatcher

Carwatcher — Mon, 14 Jul 2008 04:34:15 +0000

Ford is trying every avenue including the government to get money they don’t have. Maybe the IRS will be an investor.

By: A4

A4 — Mon, 14 Jul 2008 01:27:15 +0000

this is a swift move… touche ford, screw the bastards if they wont help you.

By: 1c3d0g

1c3d0g — Sun, 13 Jul 2008 20:17:36 +0000

Ford’s da man now!

By: Impulsive

Impulsive — Sun, 13 Jul 2008 17:23:34 +0000

‘zeeck’’s da man.

By: tripleonefive

tripleonefive — Sun, 13 Jul 2008 12:47:52 +0000

Well FoMoCo needs the cash and who else has more cash then they know what to do with but the US govts IRS
I hope Ford wins so they can use the $$$ to keep Volvo and develop some new cars for Lincoln and Turn Merc into the Euro division
Dont change the MKX front to make it look like the MKS and MKZ I think they are going to do that

By: josh

josh — Sun, 13 Jul 2008 09:15:38 +0000

How fast would the head accountant be fired after this was found out??

Probably why ford hasn’t made any money in a while…

By: Kaizen

Kaizen — Sun, 13 Jul 2008 07:12:36 +0000

Well, there goes that potential government buyout scenario. Don’t want to piss off big brother.

By: Got Handling?

Got Handling? — Sun, 13 Jul 2008 05:48:54 +0000

Desperate Moves

By: zeeck

zeeck — Sun, 13 Jul 2008 05:22:26 +0000

damn right it’s better than yours

and i wonder if this is just a scam to have the govt. “help” out ford, since it’s apparently illegal now

By: elviososa

elviososa — Sun, 13 Jul 2008 05:12:52 +0000

Go Ford! It’s about time to kick IRS’ ASS!!!

By: Impulsive

Impulsive — Sun, 13 Jul 2008 04:36:56 +0000

… and they’re like, it’s better than yours …

By: TOZO

TOZO — Sun, 13 Jul 2008 03:47:56 +0000

I don’t get the number dispute, but kudos to Ford for standing up to the evil feds.

By: F451

F451 — Sun, 13 Jul 2008 03:47:38 +0000

They are each in bed to with one another…I guess it wasn’t as good for one as it was for the other. Where’s my cigarette?

By: johnnycanuck

johnnycanuck — Sun, 13 Jul 2008 03:40:56 +0000

This is great. It’s nice to know Ford’s accounting geniuses are even farther behind than their chassis department. If I was still chasing things owed to me from 1983 I’d probably still be stalking some college chick who’s now 300lbs looking for that blowjob I never got after a frat party. Be it myself or Ford, I fear neither of us is going to cum out ahead.

By: olds307

olds307 — Sun, 13 Jul 2008 03:34:58 +0000

the IRS wants interest when YOUR late, so Ford has every right.

By: justinhk2000

justinhk2000 — Sun, 13 Jul 2008 03:34:43 +0000

YESSSSSSS I AM RIGHT SCORE 1 FOR JUSTIN

By: justinhk2000

justinhk2000 — Sun, 13 Jul 2008 03:34:16 +0000

alrite this is the smartest thing Ford has ever done, now i haven’t read the article yet so i might b wrong about this someone correct me but they finally found a way to make money. perfect and they sue their own goverment for 445 mil again genius that’s the most profit they will ever earn (asumin they win the case) in the last 5 yrs

By: olds307

olds307 — Sun, 13 Jul 2008 03:31:07 +0000

my milkshake brings all the boys to the yard