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The Big Three Still Looking for a Bailout
4-Dec-2008
Written by: Sayed Islam
The price of gasoline decreased to $44 per barrel recently, and the price of gasoline is approximately $1.80 per gallon in the United States.
The price of gasoline decreased to $44 per barrel recently, and the price of gasoline is approximately $1.80 per gallon in the United States. Nevertheless, the Big Three from Detroit are still requesting for a bailout. According to the Business News Bulletin section of Forbes.com, Camilla Webster is reporting, “General Motors is asking for $4 billion by the end of December just to survive into 2009, and shares were down over 9 percent as Chief Executive Rick Wagoner began his remarks. Ford Motor, which has requested a $9 billion loan that it claims would only be used in an emergency, was down over 1 percent. Chrysler is privately held.”
The probability of the Big Three appears to be better because the automakers turned in a comprehensive plan to lawmakers. An analyst at RGE Monitor, Rachel Ziemba, believes that the bailout is not a long term solution.
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