Ford Family Jewels pledged to Louie the Liquidator - formerly known as Guid

Henry Ford, founder of Ford Motor Co., famously hated and distrusted bankers. One can only imagine how the man who pioneered the moving assembly line in the early 20th century might have reacted upon learning that his heirs were getting set to hock the company's assets to banks, private-equity firms and hedge funds. The Ford family, led by Bill Ford Jr., chairman of the No. 2 U.S. automaker and great-grandson of the founder, has few options for raising capital to avoid bankruptcy, and none are attractive. They face the industrial version of handing the family jewels to a pawnbroker.