Business news digest

NATION

GM extends discount to nonemployees

NEW YORK — General Motors Corp. said Friday it is extending its employee-discount program to a wider group of nonemployees in an effort to boost sales in a weak automotive sales environment.

GM will allow employees to offer the discount to any one person through Thursday. Employee discounts are normally limited to employees and their immediate family.

GM spokeswoman Susan Garontakos said the discount is good for all of GM’s vehicles. The exact amount a buyer would save depends on the particular model.

S P downgrades debt on 3 large air carriers

MINNEAPOLIS — Standard Poors downgraded the debt of some of the nation’s largest carriers Friday, saying high fuel prices are likely to cause heavy losses this year at American, United and Northwest Airlines.

S P airline analyst Philip Baggaley said that in general, carriers face “perhaps a bit greater risk of liquidation” although he quickly added, “We think the airlines we’ve reviewed here are large and viable airlines.”

He said the airlines have enough cash for the next several quarters. But he is more concerned about later next year because some of that cash is likely to be gone, and because the relief on lending covenants won by American, United and Northwest will be expiring.

Associated Press