GM, Ford Motor Debt Ratings Cut to Junk by Moody's

This article belongs to the GM, Ford and Chrysler bankruptcy watch story arc.

peakoil.com, energyresources -> bloomberg.com :

General Motors Corp. and Ford Motor Co., the two biggest U.S. automakers, were lowered to junk by Moody's Investors Service following two quarters of losses at both companies' North American auto operations.

GM and Ford have struggled to maintain U.S. market share this year, resorting to offers of employee discounts to all buyers in an effort to boost sales. GM and Ford's market share slipped for much of this year as Asian automakers such as Toyota Motor Corp. attracted customers and the rising price of gasoline encouraged purchases of more fuel-efficient vehicles sold by foreign companies.

- Those who have been following this might be forgiven for asking, what took them so long?

Post a Comment:

Comments are closed for this entry.

« Africans hit hard by... | Main | Energy Prices Hit... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004
2. 2010 Honda Civic Hybrid preliminary specifications released
3. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
4. How to insert currency exchange rates into Google Spreadsheets
5. Live spot gold price quotes chart on COMEX
6. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
7. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
8. Real-time live gold and silver price quotes chart on COMEX

Featured articles on lowem.log :

1. 2010 Honda Civic Hybrid preliminary specifications released
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
4. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
5. New efficient nanotech materials may boost enhanced geothermal power systems
6. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
7. Singapore property market recovery seen as private home sales surge 52% in Jul 2009
8. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004

Custom Search