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.
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