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Thread: Big 3 Speaking Today

  1. Default Big 3 Speaking Today

    All 3 CEOs drove to Washington and are speaking at the moment.

    GM CEO says they will go bankrupt by the end of this month if no action is taken to bail them out.

    Markets recovering a bit.

  2. Default

    Rumors going around that bailout seems likely now.

    On a side note........wow this forum is dead today.

    Edit: Thanks for reminding me about that none9999, whoops.

  3. Default

    Stockcharts doesnt update the DOW volume till later in the day....

  4. Default

    I wrote to my local rep to say NOT to bail out the Automakers, it's a waste of Taxpayer money (as if it's not already put to waste). I would rather they allocate the billions to help those people with unemployment and food stamps, it's about the principal of the matter not the money necessarily.

    You can write you your local rep through his/her website click below

    https://writerep.house.gov/writerep/welcome.shtml

  5. Default

    wouldn't the auto companies going bankrupt (the timing is during a fairly major recession, otherwise I would think its a good idea) also create lots of unemployed workers?

    trickle effect GM => suppliers => dealers.....which in turn would affect all the shopping venues since even more people would have less to spend. I mean lots of businesses are struggling as is, wouldn't any other major event send them packing?

    i totally understand that these auto companies deserve to be restructured, but don't you think that the timing would create a horrible black hole for our economy? I figure at this current time the economy is at a major junction, and the auto companies could send it into a deeper spiral of recession.

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