S&P cuts both Ford and GM's bond ratings to Junk status

J

Jim Howe

In this months issue of Manufacturing Engineering the"newsdesk" carries a paragraph entitled "Foreign Automakers Grab More US Share". The article sites amongst other things that Foreign automakers expect to invest $4 billion and hire 9000 americans over the next three years and that they currently control 26% of the US market. When was the last time we heard that GM, Ford or Chrysler were investing billions and hiring thousands? Can GM, Ford and Chrysler recover? In my opinion its a little late in the day, not impossible mind you but can they match the $4 billion?
 
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