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From GM today
"Bankruptcy would not be in the interests of our employees, stockholders, suppliers or customers, and we believe speculation about a possible filing is exaggerated and unconstructive."
From Ford:
Ford Motor Co. CEO Alan Mulally ruled out a bankruptcy filing, saying the automaker was focused on its turnaround and managing its cash "very, very carefully" as a market slowdown spreads to Europe and Asia.A bankruptcy filing "makes no sense to us," Mulally said in an interview with Reuters. "Clearly the most important thing for us is to continue to build our viable Ford."
and from Standard and Poors:
S&P said yesterday it would considering cutting the credit ratings of GM and Ford Motor Co. deeper into junk status.
"We believe GM currently has adequate liquidity for at least the rest of 2008 as measured by cash balances and available bank facilities, but the accelerating deterioration in industry fundamentals will be a serious challenge to liquidity during 2009," S&P said in yesterday's statement.
more: (requires registration)http://www.autonews.com/article/2008...311109998/1142
"Bankruptcy would not be in the interests of our employees, stockholders, suppliers or customers, and we believe speculation about a possible filing is exaggerated and unconstructive."
From Ford:
Ford Motor Co. CEO Alan Mulally ruled out a bankruptcy filing, saying the automaker was focused on its turnaround and managing its cash "very, very carefully" as a market slowdown spreads to Europe and Asia.A bankruptcy filing "makes no sense to us," Mulally said in an interview with Reuters. "Clearly the most important thing for us is to continue to build our viable Ford."
and from Standard and Poors:
S&P said yesterday it would considering cutting the credit ratings of GM and Ford Motor Co. deeper into junk status.
"We believe GM currently has adequate liquidity for at least the rest of 2008 as measured by cash balances and available bank facilities, but the accelerating deterioration in industry fundamentals will be a serious challenge to liquidity during 2009," S&P said in yesterday's statement.
more: (requires registration)http://www.autonews.com/article/2008...311109998/1142