Ford Rules out Bankruptcy Option

(June 29th, 2006 under Automobile Industry )
Ford Motor Corp is currently in a turnaround plan which hopes to make the automotive giant profitable again by 2008. Ford says the plan is progressing ahead of schedule but there are tough conditions in the near future. Decreasing sales of SUVs and the rising cost of materials will create difficulties in the coming months. On Wednesday, Standard and Poor's cut its rating on Ford debt deeper into junk bond territory, reducing it from single B-plus to double B-minus. Despite the increased pressure, Chief Executive Bill Ford stated that bankruptcy is not an option for the automaker. For more information, please visit the MSNBC article here: http://www.msnbc.msn.com/id/13609125/ Ray

This entry was posted on Thursday, June 29th, 2006 at 9:50 am and is filed under Automobile Industry .


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