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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Showing posts with label congress. Show all posts
Showing posts with label congress. Show all posts
Thursday, December 11, 2008
Tuesday, December 9, 2008
General Motors GM - Ford F - 12/09/08 - Stock Report
Today, 12/09/08, General Motors ( GM ) and Ford ( F ) stocks are down in pre market trading. After, closing at $4.93 on Friday, GM stock is set to open lower at $4.75 per share. Ford ( F ) will also be opening lower around $3.32 after closing at $3.38 on Monday.
The big three automakers, General Motors, Ford, and Chrysler are getting closer to receiving bailout money but it still isn't a done deal. Democrats sent a proposal to the White House last night but Republicans are seeing fault in deal. Democrats are expected to vote in a special session this week in regards to giving the big three auto markers some sort of bailout.
The terms of the loan have 15 billion being handed out and the Government potentially taking stakes in the companies. These auto makers will most likely need more capital in a few months.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
The big three automakers, General Motors, Ford, and Chrysler are getting closer to receiving bailout money but it still isn't a done deal. Democrats sent a proposal to the White House last night but Republicans are seeing fault in deal. Democrats are expected to vote in a special session this week in regards to giving the big three auto markers some sort of bailout.
The terms of the loan have 15 billion being handed out and the Government potentially taking stakes in the companies. These auto makers will most likely need more capital in a few months.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Monday, December 8, 2008
General Motors GM - Ford F - 12/08/08 - Stock Report
Today, 12/08/08, General Motors ( GM ) and Ford ( F ) stocks are up significantly in pre market trading. After, closing at $4.08 on Friday, GM stock is set to open higher at $4.80 per share. Ford ( F ) will also be opening higher around $3.17 after closing at $2.72 on Friday. The big three automakers, General Motors, Ford, and Chrysler are getting close to receiving bailout money and these stocks are soaring December 8th, 2008.
Democrats are expected to vote in a special session this week in regards to giving the big three auto markers some sort of bailout. It is not clear how much of it will be given however. This is sending stock market futures higher in addition to the potential stimulus that is coming when Barack Obama becomes President.
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Democrats are expected to vote in a special session this week in regards to giving the big three auto markers some sort of bailout. It is not clear how much of it will be given however. This is sending stock market futures higher in addition to the potential stimulus that is coming when Barack Obama becomes President.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Wednesday, December 3, 2008
General Motors GM - Ford F - 12/03/08 - Stock Report
Today, 12/03/08, General Motors ( GM ) and Ford ( F ) stocks are mixed in pre market trading. After, closing at $4.85 yesterday, GM stock is set to open lower at $4.63 per share. Ford ( F ) also looks to be opening higher around $2.77 after hitting $2.60 yesterday at one point. Thursday and Friday, the CEO's of the big three automakers will be speaking to congress.
After reporting sales down 31% yesterday, Ford ( F ) said it wants a temporary $9 billion bridge loan from the federal government only if the economic crisis worsens or if a major competitor declares bankruptcy. In that event, Mullaly's salary would fall to $1, down from $21.7 million in 2007.
Chrysler LLC's plan for a government rescue includes a proposal that the auto makers and federal government establish "an independent joint venture" to develop improved energy technology, such as batteries for electric and hybrid vehicles. At the same time, Cerberus, its private-equity owner, is offering concessions to secure a $7 billion bridge loan.
Finally, after reporting sales down 41% for November, General Motors ( GM ) says it needs 4 Billion now to avoid Bankruptcy by the end of December. General Motors has asked lawmakers for up to $18 billion to avoid collapse, promising in return to slash executive pay sell poorly performing brands.
Together, the Big Three U.S. automakers are asking Congress for $34 billion in low-cost government loans -- $9 billion more than the roughly $25 billion the automakers had sought just last month.
YIKES! What do you think? Comment Below!
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After reporting sales down 31% yesterday, Ford ( F ) said it wants a temporary $9 billion bridge loan from the federal government only if the economic crisis worsens or if a major competitor declares bankruptcy. In that event, Mullaly's salary would fall to $1, down from $21.7 million in 2007.
Chrysler LLC's plan for a government rescue includes a proposal that the auto makers and federal government establish "an independent joint venture" to develop improved energy technology, such as batteries for electric and hybrid vehicles. At the same time, Cerberus, its private-equity owner, is offering concessions to secure a $7 billion bridge loan.
Finally, after reporting sales down 41% for November, General Motors ( GM ) says it needs 4 Billion now to avoid Bankruptcy by the end of December. General Motors has asked lawmakers for up to $18 billion to avoid collapse, promising in return to slash executive pay sell poorly performing brands.
Together, the Big Three U.S. automakers are asking Congress for $34 billion in low-cost government loans -- $9 billion more than the roughly $25 billion the automakers had sought just last month.
YIKES! What do you think? Comment Below!
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Tuesday, December 2, 2008
General Motors GM - Ford F - 12/02/08 - Stock Report
Today, 12/02/08, General Motors ( GM ) and Ford ( F ) stocks are indicated higher pre market. After, closing at $4.59 yesterday, GM stock is set to open higher in pre market trading at $5.10 per share. Ford ( F ) also looks to be opening higher around $2.70 after hitting $2.09 yesterday at one point.
Why are these stocks so volatile? Investors and traders are positioning their portfolios for what may happen in the coming days and weeks!
Today, December 2, Auto Sales and Truck Sales will be released at noon. These figures are expected to be horrible. The big three automakers are getting ready to submit their separate plans today to congress. All three companies are filing separate plans. Congressional hearings are planned for Thursday and Friday as these three companies are seeking as much as 25 billion in a bailout plan that would help them avoid bankruptcy. General Motors Corp., Ford Motor Co., and Chrysler LLC would refinance their companies' debt, cut executive pay, seek concessions from workers and find other ways of reviving their staggering companies.
Besides driving to Washington by Car versus a private jet, Ford Motor (F) Chief Executive Alan Mulally plans to tell Congress he is accelerating his company's development of hybrid and electric vehicles and is willing to cut his salary to $1 a year if Ford uses any federal funds. It is unclear how the CEO's of General Motors ( GM ) and Chrysler are travelling to Washington.
Expect more volatility in both GM and F stock as we get some clarity on the above.
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Why are these stocks so volatile? Investors and traders are positioning their portfolios for what may happen in the coming days and weeks!
Today, December 2, Auto Sales and Truck Sales will be released at noon. These figures are expected to be horrible. The big three automakers are getting ready to submit their separate plans today to congress. All three companies are filing separate plans. Congressional hearings are planned for Thursday and Friday as these three companies are seeking as much as 25 billion in a bailout plan that would help them avoid bankruptcy. General Motors Corp., Ford Motor Co., and Chrysler LLC would refinance their companies' debt, cut executive pay, seek concessions from workers and find other ways of reviving their staggering companies.
Besides driving to Washington by Car versus a private jet, Ford Motor (F) Chief Executive Alan Mulally plans to tell Congress he is accelerating his company's development of hybrid and electric vehicles and is willing to cut his salary to $1 a year if Ford uses any federal funds. It is unclear how the CEO's of General Motors ( GM ) and Chrysler are travelling to Washington.
Expect more volatility in both GM and F stock as we get some clarity on the above.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Sunday, November 30, 2008
General Motors GM - Ford F - 12/01/08 - Bailout Talks Resume
Focus shifts back to the big three automakers this week as General Motors ( GM ), Ford ( F ), and Chrysler LLC are preparing to report back to Congress for the second time in a month.
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.
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!
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Saturday, September 27, 2008
Bailout Plan: Congress Making Progress on Saturday 9/26
Today Congress appears to be making progress on the bailout/rescue plan for the financial markets. Hopefully we have a deal by tomorrow night 6pm EST when the Asian Markets open for trading.
If a bailout plan isn't agreed upon by that time....we could be looking at a serious down day on Monday. I think we have a few days grace period to get this done, as long as we don't hear the deal has stalled or looks unlikely.
When we get a deal, I think we will have a nice rally....but then people will focus back on the economy again. It's a vicious circle of pessimism!
Stay Tuned!
If a bailout plan isn't agreed upon by that time....we could be looking at a serious down day on Monday. I think we have a few days grace period to get this done, as long as we don't hear the deal has stalled or looks unlikely.
When we get a deal, I think we will have a nice rally....but then people will focus back on the economy again. It's a vicious circle of pessimism!
Stay Tuned!
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