Ford Is Using Its Cash Hoard to Pay Some Suppliers Early
Ford Motor Company (NYSE: F) is helping out some cash-strapped suppliers by paying its bills early.
Ford has created a new early payment program intended to ensure that cash-strapped parts makers have access to cash flow and working capital as they restart production.
Ford restarted most of its U.S. factories on Monday after a two-month shutdown amid the coronavirus pandemic. The shutdown probably cost Ford more than $10 billion, but the automaker has been able to weather the crisis thanks to an ample cash reserve that it set aside for an economic downturn several years ago.
Source Fool.com
