Bankruptcy IS An Option

If you have to constantly tell people that bankruptcy is not an option, guess what? It's an option. Autoblog reports: Ford: bankruptcy "not an option". From Reuters

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?

Comments

[Joel A]

"Ford has no credibility in our books* any longer"

I'm curious. Reasons? Would make a good cross-post material for my blog :)