J.P. Morgan Upgrades Ford, GMTuesday, July 10, 2007
At the time this article ran on LewRockwell.com, and while the rest of the market sagged, J.P. Morgan upgraded the stock rating on General Motors and Ford. The reason? Betting on positive outcomes concerning worker benefits and “normalized” car sales. GM saw a 21.3% drop in its light vehicle sales for June, while Toyota, Honda, and Nissan all gained. Don’t even try to make sense of it.