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Questioning - USA - Doubting Detroit's Turnaround
New York, NY,USA -TheStreet.com, by Nat Worden -9/7/2005: -- General Motors and Ford have had a rough year. But the worst may be yet to come... August sales numbers show that deep discounting has run its course. Now the companies face a sales hangover. Their product mix still favors gas-guzzling trucks and sport utiilty vehicles, while prices at the pump have soared above $3 a gallon in the wake of Hurricane Katrina... On Wednesday, Standard & Poor's managing director of ratings services, Solomon Samson, told TheStreet.com that his firm remains nervous that more credit downgrades could be forthcoming for the automakers. (Reuters quoted another S&P analyst making similar remarks overnight in Europe)...
posted by Unknown @ 3:33 PM
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