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Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Ford racks up $2.6 billion profit

Ford Motor Co. reported a second-quarter profit of $2.6 billion as U.S. sales rose 20 percent and the automaker continued to gain market share.

Concept Car of the Week: Oldsmobile Aerotech (1987)

In late 1984, Oldsmobile management had so much confidence in the potential of its new inline four-cylinder engine Quad 4, that a small team was assigned to the creation of the Aerotech, a research vehicle designed to demonstrate the engine's performance by setting a new world speed record. Ed Welburn, then assistant chief designer, was mostly working on the 1988 Cutlass Supreme but his passion for race cars made him the ideal candidate to be handed the assignment by Oldsmobile 2 studio's chief David North. Inspired by Le Mans racers such as the Porsche 917LH and Jim Hall's Chaparrals, he designed a long, flowing car that immediately seduced design director Chuck Jordan and GM management.