Due Tuesday 12/02/08, the big three automakers will present a plan to the Democrats in their last attempt to get a bailout before seriously looking at Chapter 11. On Wednesday, 12/03/08, these three companies will be grilled by the Senate during a hearing followed by a hearing with the House of Representatives on Friday, 12/05/08. If everything goes well we could be looking at a bailout during the following week. GM, F stock could be very volatile during this period as well as the overall stock markets.
"We cannot afford to see these companies fail," said Ron Gettelfinger, the UAW chief, calling on Congress to approve the aid during a special session the week of Dec. 8, 2008.
The board of General Motors was last night understood to be locked in discussions to save the US car leader from filing for bankruptcy.
This whole situation could effect the markets this week so make sure you stay tuned!
For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE and get my posts right on your homepage or emailed to you.
