General Motors GM - Ford F - 12/11/08 - Stock Report

Today, 12/11/08, General Motors ( GM ) and Ford ( F ) stocks are up in pre market trading after the House passed the auto bailout bill by 19 votes. After, closing at $4.60 on Wednesday, GM stock is set to open higher at $4.75 per share. Ford ( F ) will also be opening lower around $3.20 after closing at $3.25 on Monday.

Last night, 12/10/08, The House of Representatives passed the auto bailout bill 237 -170. The bill needed just 218 votes to pass. The 14 billion bridge loan bill now stumbles into the Senate as early as tomorrow. The real problems are in the Senate as there are many voters opposed to this bailout bill. If Ford, General Motors, and Chrysler get this bridge loan, they will be back in a few months for more money. Conditions aren't likely to get better. Some say by the time this is all said and done, they will need 100 billion combined. However, this would save over 2 million jobs. This is a touchy subject and I could argue either side. Bankruptcy would kill our already horrible economy but it might eventually bring more jobs if we can get this problem fixed in bankruptcy. These car companies need to make better cars not to mention cars people want to drive. We will have an update when more news comes.

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