FinancialBounce.com

The sun is still shining even though we had a pretty bad day with the Dow today. I was talking to a friend who was trying to convince me to invest in some stocks he had been trading (penny stocks). Apparently with all the crap going on with the big companies, his smaller company stocks made him a couple of grand today. Nice. Definitely makes me envious compared to the beating that my portfolio is taking place.

We had Ford (Stock ticker: F) drop to almost under a buck (yeah, a share of Ford stock cheaper than a McDonald McChicken sandwich–a sandwich that’s on the freakin’ daily dollar menu) and Google (Stock Ticker: GOOG) drop to about 260. What a day. [I normally focus on the stocks I watch and own, so I appologize for always mentioning stocks like Yahoo (Stock ticker: YHOO) and Google.]

We also had that little Jet-Pooled incident with the CEOs of the “Big 3″, but on more serious news: the Dems actually are delaying the auto-bailout vote.

The $25 billion rescue plan for the auto industry, desperately sought by Detroit’s beleaguered Big Three, collapsed Thursday as Congress drew the line at one more bailout and Democrats said they wouldn’t even consider it until the companies produced a convincing plan for rebuilding their once-mighty industry.

Just for the record, the “Big 3″ automakers in the United States of America are: General Motors Corp. (Stock ticker: GM) , Ford Motor Co. (Stock ticker: F) and Chrysler LLC (Privately owned).

What do I think is going to happen with these? Well, I had a pretty long discussion regarding the auto industry with a good friend of mine earlier today. I pretty much believe that the government will bailout the auto industry. I was up at 6AM watching Fox News, MSNBC, etc. and a lot of the arguments going on is that why bailout the mortage industry where they don’t really “produce” anything and not the auto industry where they symoblize America outside of the United States and product goods that we use. I somewhat agree, but at the same time… I think corporate America is going to go through a lot of changes. With the way these officers are getting mutli-million dollar salaries while we’re going through an economic meltdown (I’ve never really used the word meltdown before, but c’mon…), there NEEDS to be some sort of “MAJOR” cutback. First thing I see is that these officers should get their earnings trimmed down and be at equal par with how the companies are truly performing.

I’m going to be watching the market and possibly buy some good shares in Ford and GM. Sort of a scary thing at this point, but money isn’t made without a gamble.