Oh Crap

Not again. Reuters (11.01.05):

"General Motors Corp. and Ford Motor Co. both reported 23 percent declines in October U.S. sales on Tuesday, as high gasoline prices further undercut demand for big sport utility vehicles. In contrast, Japan's Toyota Motor Corp. and Honda Motor Co. Ltd. posted monthly sales gains of 5 percent and 4 percent, respectively." Sales at GM and Ford drop 23 percent

Let's see. SUVs on average don't get great gas mileage, so when the price of gas goes up, it's more expensive to drive them. Because of that, people aren't as inclined to buy them. Thus your sales decline. Cripes. Imagine that. According to J.D. Power's, "Toyota had the biggest U.S. retail market share in early October". AP (11.01.05):

"General Motors Corp.'s debt was slashed deeper into 'junk' territory Tuesday after Moody's Investors Service lowered its long-term rating due to uncertainty about the auto giant's massive restructuring. The credit rating agency lowered GM debt by two notches to a 'B1' from a 'Ba2,' both speculative-grade ratings." Moody's Cuts GM Rating Further Into Junk