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 U.S. auto sales that [...]

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 things around.
Long-overdue restructurings were [...]