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Ford to issue up to $1 billion in new stock
Ford to issue up to $1 billion in new stock
Posted on Monday, December 7th, 2009 at 4:05 PM EST. (Employee News)
Ford Motor Co. will issue up to $1 billion in new stock, according to documents filed by the company with the U.S. Securities and Exchange Commission after the markets closed on Friday, The Detroit News reported.
In the filings, the automaker said the proceeds will be used for “general corporate purposes,” the paper said. Ford has been periodically issuing new shares to whittle away its debt, which remains a competitive disadvantage after its cross-town rivals, General Motors Co. and Chrysler Group LLC, eliminated much of their debt during their bankruptcy reorganizations earlier this year, the story said. (The Detroit News)
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Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
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