Wednesday, November 12, 2008

Automaker Bailout
Democrats in Congress are demanding that Ford, GM and Chrysler get access to the $700 billion bailout fund. Americans are hoping that Ford, GM and Chrysler will use that money to make a car that lasts for more than 3 months.

House Speaker Nancy Pelosi says the failure of one or more of the major American automobile manufacturers would have a devastating impact on the economy... although not as much as the devastating impact crappy and gas-guzzling American cars have had on the economy.

Amex Appeal
American Express is now trying to get access to the $700 billion bailout fund. It's not clear what Amex would do with the money, but it is expected to simply pay off its huge Visa and Mastercard bills.

New Iran Missile
Iran test fired a new missile today. The government denies the weapon is intended to attack Israel, despite the fact that the warhead has been programmed to detonate only when it comes withing 50 feet of bagels, lox or chopped liver.

Obama's Rules
President-elect Barack Obama is barring federal lobbyists from donating to his transition and inaugural events. Instead, he's asking them to just give their money to GM.

GM Stock
G.M. shares fell 13% percent Tuesday to $2.92, its lowest point since 1943. Incidentally, in 1943 the price of a new GM car was also $2.92.


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