BBC News: Ford's junk rating cut further (BB Minus)

(What was that about our BOOMING economy Mr.*president?)
Thursday, 5 January 2006, 23:52 GMT

Ford's junk rating cut further

Standard & Poor's (S&P) has slashed the debt ratings of Ford once again, pushing the US carmaker even further into "junk" territory.

S&P said the move reflected a drop in Ford's market share and fears over whether it would be able to reinvigorate its US business.

The US credit rating agency's decision came a day after Ford posted a slide of 8.7% in December sales. A junk status rating suggests a company is more likely to default on its debt. S&P cut its ratings on Ford and its finance arm Ford Credit "BB minus", the third highest junk rating.

Sputtering sales

Ford, along with rival General Motors, has been struggling to reverse declining sales and profits in the key US market. Both companies have seen sales of their gas-guzzling sports utility vehicles, or SUVs, hit by changing consumer tastes and the rising cost of fuel.

(more at link below)

<http://news.bbc.co.uk/2/hi/business/4586308.stm>

Haven't you heard? It's going great, turned the corner, makin' progress, headed in the right direction ..."

We're prosperous again.

whatever this may say about the economy in general, this is mostly the fault of the poor management at Ford and their unresponsiveness to the changing automobile market, IMHO anyway.

Too bad, but they made the choice to go the way of the dinosaur. Bought into their own marketing propaganda. Irony, irony.

Hey! I have a Ford

and a Lincoln?? Maybe I'd better look for that old VW Beetle I used to have. It's still running. I saw it the other day down the block.

:kick: