Dead Man Walking.

With regret, we are upgrading our rating on General Motors from "Domino" to our second highest rating, "Dead Man Walking".

We anticipate raising the rating further to our top rating "Bye Bye Bye" as events warrant.

For reference, our rating scale of Peak Oil Calamities, from highest to lowest:

Bye Bye Bye
Dead Man Walking
Domino
Hold
Buy
Buy Like Your Life Depends on It
Buy Like My Bonus Depends on It
Buy Like My Life Depends on It

[Update: Though this editorial doesn't mention their healthcare or bond problems, he's thinking along the same lines otherwise, particularly on their hydrogen gamble.]