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?
"Ford has no credibility in our books* any longer"
I'm curious. Reasons? Would make a good cross-post material for my blog :)
Posted by: Joel A | Friday, June 30, 2006 at 11:43 AM