Tuesday, May 10, 2005

Ford and GM's Bonds downgraded to "Junk"

This actually happened a few days ago, but looking at my portolio in the contest, it explains quite a bit. I've lost 2.21% on Ford since yesterday. That could easily change and move back up, but according to this article from the Economist, that may not be likely.

From the looks of it, I probably should have bought GM. At least they have a major institutional investor backing them up and have recently brought on new management. The article does not mention anything Ford has done to turn the tide of pessism regarding American motor companies.

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