Chicago Tribune Bill Barnhart column.

Chicago Tribune (Chicago, IL) | May 6, 2005 | Copyright

Byline: Bill Barnhart

May 6--In a world where getting voted off the island induces tears and appearances on the next morning's network TV show, it's not clear who will cry for General Motors and Ford.

Thursday, the credit rating of both companies was reduced to non-investment grade, or "junk" status, by Standard & Poor's.

The move was expected among denizens of the stock and bond markets, though it came earlier than many had forecast.

The downgrade, especially if one of the other major credit-rating agencies follows suit, effectively ...

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