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bankruptcy has been a viable exit strategy for companies for decades and decades
and airlines ALWAYS go bankrupt
but i'm not sure when gm stopped being profitable??
they realized $3+bil in profits on 300+ billion in sales last year and are only ~2% off that number for 2004.
yes, there's a glut of pri8marly SUVs for sept but that is mainly due to market shifting from that style of vehicle
gm is also ranked as one of the best corporations to work for, according to forbes so they must think their pension coifers are safe
re: san diego
The deficit is due to a mix of factors, including underfunding by the city dating to 1996, benefits granted but not funded, and HUGE investment losses in 2000-02.
For now, the city has still strong ratings from Fitch and Moody's Investors Services.
some analysts feel that Standard & Poor's action "is analytically defensible" but "exaggerates the impact of the current situation."
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