By Caroline Salas

June 20 (Bloomberg) — General Motors Corp., Ford Motor Co. and Chrysler LLC credit ratings may be lowered by Standard & Poor’s as higher gas prices inflict “financial damage” on the auto industry.

S&P placed the carmakers’ credit ratings, already five levels below investment grade, on CreditWatch negative, according to a statement today. New York-based S&P, a unit of McGraw-Hill Cos., said it may also downgrade their financing arms. While the carmakers will be able to pay their debts this year, their cash may shrink to “undesirable levels” by the end of 2009, S&P said.
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POSTED: 2:54 pm MST February 1, 2008

UPDATED: 3:16 pm MST February 1, 2008

Ariz. — An elderly couple was seriously injured Friday when their car slammed into the back of a big rig unloading new cars at a Scottsdale Lexus dealership.Police said the woman was driving when the couple’s sedan, heading east on McDowell Road at about 40 mph, collided with an 18-wheel car hauler that had stopped in the roadway to unload cars.The new vehicles had all been unloaded from the truck, allowing the couple’s sedan to go up the car hauler’s ramp and slam into the back of the cab before coming to rest hanging halfway off the ramp.Police said the couple was taken to a Scottsdale hospital, the man with life-threatening injuries.

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UPDATE

Chrysler continues to operate truck, SUV plants

Robert Sherefkin
and Philip Nussel
Automotive News
March 20, 2008 - 3:25 pm ET

DETROIT — Strike-bound American Axle & Manufacturing Holdings Inc. has moved some of its parts production for Chrysler LLC from the United States to its operations in Mexico.

” It was a way to protect us from being shut down after the strike began” Chrysler spokeswoman Michele Tinson said today.

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July shutdown will be mandatory for most employees
DETROIT — Chrysler LLC plans to shut down for two weeks this summer, according to a memo sent by CEO Bob Nardelli to employees today.
The company will take a ” two-week mandatory shutdown for the weeks of July 7 and July 14,” said Nardelli in the memo.
” As a private company, we need to think like owners and do our part to accelerate Chrysler’s recovery and transformation,” he said. …  story  Published: Mar 13 2:04 pm U.S. Eastern