You have an earnings penalty and a cash benefit, neither of which is overwhelming.

I still think it's unlikely, ... I think GM has the liquidity it needs. In addition to the cash, it has $50 billion in untapped borrowing.

It's a footnote, ... I think it's a minor help to Ford's cash position. I suppose anytime you get about a quarter of a billion dollars it's welcome, but it doesn't change the big picture.

I think the effect has already been felt on Ford's earnings because Ford and the other automakers book themselves in profits when they produce and ship the cars to the dealers.

I think the effect has already been felt on Ford's earnings because Ford and the other automakers book themselves in profits when they produce and ship the cars to the dealers,

In the light of the fact that GM burned through $7bn in cash last year, it was clear additional urgent action was required.