Big Three's New Year's Resolution: Stop with the negative reports!

Even with it being Christmas time, General Motors, Ford, and Chrysler can't catch a break. These grinch-like days continue to worsen for the Detroit Big Three, and yesterday GM and Ford's stock plunged yet again following another downgrade report of 2009 estimates.

Standard & Poor's Rating Services said it would not raise its "CCC" junk ratings for General Motors and Chrysler in the near future, despite emergency loans from the U.S. and Canadian governments to help them avoid bankruptcy. Moody's Investors Service lowered Ford's rating from "Caa1" to "Caa3," an even lower junk bond status.

Now, I am not a brainiac when it comes to this whole "status" thing, but obviously for us folk who need to have things spelled out for them, downgrading is B-A-D. This is even more of a blow considering that the cash that is being lent on an emergency basis is still a non-factor in terms of the long-term prospects for the car makers.

You're a mean one, Mr. Grinch....

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