If stock market sentiment is any indication of whether The Big Three will get federal bailout loans before they run into solvency problems, then the world looks terribly grim.
GM (GM) made a new 52-week low at $2.60, down 13% for the day, compared with its period price of $43 in October 2007.
Ford (F) is trading off to its 52-week low at $1.47, down 11%, compared to a high of over $9 last October. Odds are fairly reasonable that Ford will trade below $1 before the end of the year.
At this point, there is no chance that the current Congress will get this done before leaving DC.
Douglas A. McIntyre