Subject: Re: Ford pursues poor credit risk people
1.) Thanks to "culture" --- the bust-outs. Credit-Criminals. Roaches. Bogues.

Or the 'equity impaired'

Or the ones who can't finance a hamburger....

Are very very profitable business IF done the right way. For instance, if someone sort of knew Don Foss in michigan when he was a teenager, and subsequently made sure to do a tiny sliver of business with Credit Acceptance Corporation via REAL DIRECT business --- AND purchased some stock starting whne he was 19 years old in 1994....well....that guy knew that bad culture will breed more of this business....and that guy would be portly, a generous lover, and today....be right on. (For the non-businessmen here who think they are investors because of their porfolio shit, feel free to look up Credit Acceptance Corporation (CACC) since the mid 90's.... abd as a REAK busunessman he pursued the Bust Out business from 2000-2007 with CACC as the indirect lender but he did it in a LIMITED WAY --- only accepting the business that looked realistic and solvent....and maybe that fella got retro cash from that endeavor and parked the cash abroad so you freaking mooches can't touch it and can shove the "1%'er" sandyleelee TMF stuff up your bums :)

Anyhow, bad culture has churned out this demographic. And hey, some make money hand over fist .

Trouble is, when Corporate Idiots bred on college campus (you people) do it --- such as CEOs like Mr Farley (not smart at all) they lose their freaking asses in the long term. Because the bust-outs don't pay...they get repo'd....and it's negtive equity and losses at the auction.

People like Dummy Blue Oval Standards Farley use the BUST OUT business to peddle metal he's having tgrouble selling and yeah, for awhile it works.

Then come the losses.

Then the lower residual values.


Then the less competitive lease offers.

Ford Motor Credit did this with limited success with escorts and rangers back in the day.

Toyota Motor Credit is smarter -- they are liberal with a certain demographic that has NO credit....at times NO social security number....but they come to the table with 20-30% cash down equity thus giving them incentive to pay off the damn truck or car.....AND giving Toyota. loyal customer win a certain growing demographic.

CEO's like the one referred to by the OP haven't seen the ball since the kickoff.

Leave business to real men, sir.

Boom.

Somebody won.