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Fitch downgrades General Motors on diminishing liquidity

By Wallace Witkowski
Last update: 2:58 p.m. EDT Sept. 22, 2008

SAN FRANCISCO (MarketWatch) -- Fitch Ratings said Monday downgraded General Motors Corp.'s issuer default rating to CCC from B- because of the auto maker's diminishing liquidity and lack of access to capital. The outlook is negative. "External sources of capital for GM remain limited, indicating that liquidity drains will accelerate through year-end 2008," Fitch said in a statement.

More here: http://www.marketwatch.com/News/Story/Story.aspx?guid={F143E832-B30C-42C3-8ED6-1A27EDD12EB5**&siteid=yhoof2
 

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good god someone cant run a business....
 

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Wagoner is a crook intent on destroying dealers, suppliers, and retirees. shame on us for allowing this madman to continue. shame on those here who listen in any way shape or form to the advocates of continuing this guy's pitiful performance. if people would have any common snese, they would have listened to Ron Paul regarding Washington and Buickman regarding GM. I have the answers, problem is the ignorance in acceptability. oh well...see what happens when you don't LISTEN?
 

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Wagoner is a crook intent on destroying dealers, suppliers, and retirees. shame on us for allowing this madman to continue. shame on those here who listen in any way shape or form to the advocates of continuing this guy's pitiful performance. if people would have any common snese, they would have listened to Ron Paul regarding Washington and Buickman regarding GM. I have the answers, problem is the ignorance in acceptability. oh well...see what happens when you don't LISTEN?
We can all name you over 100 posts to which you have been very wrong about GM and another 100 posts on how many of your ideas wouldn't work and would cost GM more money. The rest of your posts are as this one, your 3 sentence copy and paste with a few words.
 

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We can all name you over 100 posts to which you have been very wrong about GM and another 100 posts on how many of your ideas wouldn't work and would cost GM more money. The rest of your posts are as this one, your 3 sentence copy and paste with a few words.
and your defense of Red Ink Rick is indefensible. the guy has virtually ruined GM, having lost more money than any executive in corporate history. you my friend are a fool.
 

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merge ford/gm, suspend dealership lawsuits over franchise termination, suspend cafe for 20 years for the new american car co(or get trucks out of the calculation), give em $75 billion, big tax credits toward volt technology. Do all this and yes I have been saying this for 2 or 3 years, except the cafe part which wasnt around, then.
 

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Wagoner is a crook intent on destroying dealers, suppliers, and retirees. shame on us for allowing this madman to continue. shame on those here who listen in any way shape or form to the advocates of continuing this guy's pitiful performance. if people would have any common snese, they would have listened to Ron Paul regarding Washington and Buickman regarding GM. I have the answers, problem is the ignorance in acceptability. oh well...see what happens when you don't LISTEN?

Please, just go away.
 

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Wagoner is a crook intent on destroying dealers, suppliers, and retirees. shame on us for allowing this madman to continue. shame on those here who listen in any way shape or form to the advocates of continuing this guy's pitiful performance. if people would have any common snese, they would have listened to Ron Paul regarding Washington and Buickman regarding GM. I have the answers, problem is the ignorance in acceptability. oh well...see what happens when you don't LISTEN?
Honestly, your post get very tiring and predictable. We all know you really don't like Rick Wagoner, we get it. The fact is though, you totally fail to grasp the real situation. You have focused all your efforts on attacking Wagoner yet missed any other outside factor that has caused GM to stumble.

It's like you are blinded to the fact GM is riddled with healthcare cost (moreso previously) or that the economy is not doing so good right now or that gas prices are pretty high realitvely speaking. Until you can make a post that actually address issues or at least correctly identifies them it will be hard for people to take your post seriously.
 

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I wasn't aware it could go any lower!
It can still go lower. To "CC", and then to "C".

Then, after GM has started defaulting on their debt, they will still be rated (there are ratings in the Ds) based on how likely the company is to survive. These ratings are even further below their current CCC.

So, yeah, there's room down there. Get the lawnchair and popcorn.
 

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Honestly, your post get very tiring and predictable. We all know you really don't like Rick Wagoner, we get it. The fact is though, you totally fail to grasp the real situation. You have focused all your efforts on attacking Wagoner yet missed any other outside factor that has caused GM to stumble.

It's like you are blinded to the fact GM is riddled with healthcare cost (moreso previously) or that the economy is not doing so good right now or that gas prices are pretty high realitvely speaking. Until you can make a post that actually address issues or at least correctly identifies them it will be hard for people to take your post seriously.
some things just never change. he needs to go as did Matt Millen and Kwame Kilpatrick. failure is failure and that is that. I simply continue to point out the obvious and some refuse to see the light. in actuality, there should be a stampede to drive this guy out of town.
 
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