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Ford chairman says U.S. loans would help turnaround

WASHINGTON
Tue Sep 16, 2008 6:17pm EDT

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WASHINGTON (Reuters) - Bill Ford, chairman of Ford Motor Co (F.N), said on Tuesday a $25 billion federal loan program for the auto industry would help accelerate the automaker's attempt to turn around its business.

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Speaking to reporters after meeting key lawmakers in the House of Representatives, Ford also said turmoil on Wall Street "makes it hard for everyone, not just companies" to access credit.

Ford said he has "clear sense" from lawmakers that loan assistance to the auto industry is a "separate issue" from the government response to the troubled financial services sector.

(Reporting by John Crawley; Editing by Andre Grenon)
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