"Both are overexposed to the truck segment, both are losing market share, both have too many dealers, and both face an automotive depression: Sales declined 18% in 2008 and are going to decline 20% or more in 2009," he says. Still, Levy reminds, Ford CEO Alan Mulally arranged to borrow $24 billion soon after arriving at Ford in 2006. "Ford's key advantage in this environment is that they went to market and mortgaged assets to get liquidity in advance, so they don't have to beg the government for credit," he said. "That's the key difference: one company got the cash at the right time."