Wednesday, July 2, 2008 Merrill Lynch cuts General Motors rating Detroit News Wire Services General Motors Corp. was cut to "underperform" from "buy" at Merrill Lynch & Co., which said "bankruptcy is not impossible" for the largest U.S. automaker, Bloomberg News reported today. "The key change in our outlook is a much lower forecast for [...]

Wednesday, July 2, 2008 Slumping sales cloud Big 3′s prospects June’s 18% decline tied to high gas, falling asset values; Outlook gloomy as financial pressures increase, consumers sit on sidelines Bryce G. Hoffman, Brian J. O’Connor and Eric Morath / The Detroit News This was supposed to be the year Detroit’s automakers started to turn [...]