Ford, GM No Better Than Junk (credit rating cut)

[radfringe]

Ford, GM No Better Than Junk
David Utter | Staff Writer | 2005-05-06
http://www.webpronews.com/business/topbusiness/wpn-54-20050506FordGMNoBetterThanJunk.html

Standard and Poor's cuts the credit rating of two Detroit automakers to junk status, sending share prices down.

The American auto industry takes another hit, as two of the Big Three automakers find their debt rated as "junk" by ratings agency Standard & Poor's.

For the two companies, the rating means an increased difficulty in borrowing capital and precious few options for doing so.

The woes faced by American carmakers seem to accumulate without end.

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questions:

1. How long before the repugs bail-out Ford & GM?
2. At what point during a broadcast will the reich-wing-radio-blather-heads blame it all on Clinton? Or on the Dems?
3. When will GM and Ford announce layoffs? Bankruptcy?
4. When is the official date the recession will begin? or a depression?

[B Calm]

1. Trust me! They'll blame the union labor!

[radfringe]

3. NPR story (Thursday)

cited high gas prices and people steering away from purchasing high-end gas-guzzlers

but yes, I forgot about blaming the unions...

[Kolesar]

2. Nissan got bailed out by Japan for $ 6 Billion ... eom