President Obama visited a Ford plant in Chicago on Thursday. (PHOTO CREDIT: Getty Images)
Chicago, Illinois (CNN) - President Barack Obama praised autoworkers at a Ford plant in Chicago Thursday, and reiterated his administration's high hopes for the U.S. auto industry.
Ford is the only major U.S. automaker that didn't take a government bailout.
"That was a testament to your hard work and choices the company made," the president told the workers. "If your competitors had gone down, the suppliers you use here would've gone down, too. And the brand of American autos would've diminished."
Alan Mulllay of Ford has really transformed Ford, having sold off a lot of money losing niche brands and now focusing on Ford and Lincoln only.
The stock is doing very well and has room to run. I bought 1000 shares at $2.43 a share and my investment is up over 300%. Just wish I had bought a lot more.
But Ford did it by itself, without a bailout from the federal govt.