GM Death Watch

[Joanne98]

GM sunk to new all time lows on news S&P puts automakers on watch list.


Standard & Poor's Ratings Services has placed the corporate credit ratings of automakers General Motors (GM), Ford Motor (F) and Chrysler on CreditWatch with negative implications. A negative CreditWatch means ratings have a one-in-two chance of being downgraded in the next three months.

S&P suggests that the companies' sales will continue to be hurt through 2009 by "deteriorating U.S. industry conditions," largely the result of high fuel prices.
http://globaleconomicanalysis.blogspot.com/2008/06/gm-death-watch.html

[Barack_America]

1. Breaking: State of Michigan death watch has commenced.

*sigh*

[BeatleBoot]

2. Chrysler will die off well before GM

My opinion.

[lapfog_1]

3. As will Ford. - n/t

[zeemike]

4. The investors and owners don't care

They are diversified and are making up for any loss in the auto sales 10 fold by the profits from energy and hedge funds.
And in fact when they do go under ot will make labor in America so cheep with all those unemployed workers competing for a job at McDonald's.