Thursday, November 13, 2008

GM pleads for assistance from US Government

The stock prices of American auto makers have all taken a sharp, and steep decline in the last 3 months, most recently in just the past couple of days the stock price of GM and Ford have tanked to all time lows in the last 50 years. The auto makers are telling the government they need a hand out from the government and the US taxpayers.

Where do the legislators draw the line in the most recent decline in the US economy? What do the automakers want? Perhaps a subsidy like the farmers get? I think the economy would be best off by the US taxpayer getting a tax break to buy a new car from either GM, Ford, Chrysler, or Jeep. Give the people the tax credit of $5000 or more and watch them flock to the showroooms especially when gasoline prices have fallen an incredible 50 percent in only a month and a half here in the USA.

We'll see what happens with this issue as it continues to unfold. It will be interesting to say the least. If you're an investor, I think you'll want to buy up some Ford and GM stock now, because they are at all time lows and you may never see this price again for that stock.

Rich Baxter - Car and Truck Talk Blog

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