Standard & Poor's cut its rating on Ford debt deeper into junk territory on Wednesday, lowering it one notch to single-B-plus from double-B-minus and saying "2006 would be a more difficult year for Ford than previously anticipated".Sigh. This is interesting, however:
Bill Ford told the paper the company had no interest in taking itself private, despite reports that it has studied doing so amid a falling share price and a flurry of private-equity-backed deals.Private, eh? No more mega scrutiny, eh? Ford has no credibility in our books* any longer, so anything that comes out of the corp. means nothing. We predict both bankruptcy and Ford going private.
*So we have books. Wanna make something of it?