The Lesson of Ford: Raise Money When You Can, Not When You Have To

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There’s an ancient Wall Street saying that goes something like this: “The best time to raise money is when you can, not when you have to.”

The moves that Ford Motor (F) made to strengthen the balance sheet (stock offerings, refinancings, selling of non-core businesses) in better times (2007) were the deciding factor between bankruptcy and survival.  CEO Alan Mulally saved the farm.

Now THAT’S a CEO.

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