Wednesday, Aug 13, 2008
Hummer production line for sale?
Bloomberg: GM Debt Rating Lowered Further Into Junk by Moody's
"General Motors Corp. had its credit rating on $29 billion in debt lowered one step further into junk status by Moody's Investors Service on concern that falling U.S. sales will hurt efforts to boost cash flow". Without cash from the Fed, an industrial train wreck is almost upon us.
Posted by alan @ 08:56 PM (345 views) Add Comment
4 Comments
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1. Eternal Sceptic said...
The writing was on the wall for gas guzzling behemoths in the 70's. If GM could not read the signs, should we really mourn their passing?
2. Yellerkat said...
No doubt its shares have soared.
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. This comment has been removed as it was found to be in breach of our Blog Policies.