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Big 3 Execs Finish With Senate

CEOs to make their case to the House tomorrow

By Nick McMaster,  Newser Staff

Posted Dec 4, 2008 4:14 PM CST

(Newser) – The CEOs of the Big Three wrapped up a six-hour session with the Senate Banking Committee during which they asked for a minimum of $34 billion in aid, the Washington Post reports. Chairman Chris Dodd vowed to draft a bill “in the next 24-48 hours" that stood a chance of passing both houses and ducking a Bush veto. The execs face the House Financial Services Committee tomorrow.

"We're here today because we made mistakes, which we're learning from," GM's Rick Wagoner told the panel. "And we're here because forces beyond our control have pushed us to the brink. Most importantly, we're here because saving General Motors, and all this company represents, is a job worth doing."

Chrysler Chief Executive Officer Robert Nardelli, right, shakes hands with Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., on Capitol Hill in Washington, Thursday, Dec. 4, 2008.
Chrysler Chief Executive Officer Robert Nardelli, right, shakes hands with Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., on Capitol Hill in Washington, Thursday, Dec. 4, 2008.   (AP Photo/Gerald Herbert)
General Motors Chief Executive Officer Richard Wagoner gathers his papers on Capitol Hill in Washington, Thursday, Dec. 4, 2008.
General Motors Chief Executive Officer Richard Wagoner gathers his papers on Capitol Hill in Washington, Thursday, Dec. 4, 2008.   (AP Photo/Susan Walsh)
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I am not going to leave town without trying.
- Chris Dodd, Senate Banking Committee

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Dec 4, 2008 8:32 PM CST
By Tasha Cherry ( Tashacherry.com) 12/5/2008 9:19:16 AM Bad News for 2009 The headlines today offer a grim reality for 2009. Stock markets are in a crisis and no doubt that it will hit 7000 by year’s end. Companies like circuit city are using the pension of its retired employees just to stay afloat. The failing of our banks and credit systems ripple down and affected many other sectors of the U.S. economy; the sector at the forefront today is the automotive. As congress listens to the automotive companies few understand the impact of what it would mean for them to fail. Collectively Ford, GM and Chrysler employee over 200,000 employees and is responsible for hundreds of thousands of pensions. Not to mention the companies that makes the parts for the big three. Job loss is 533,000 and the unemployment rate is 6.7 verses 6.5 in October that brings the number to date, negative a million, the largest drop since November 1974. That’s the worst in 34 years, while we are hitting historic numbers one can only assume that our worst days are ahead of us. As the news rally around the distressing information my question is why we aren’t rallying around possible solutions; this seems to me to be about survival not striving in the U.S. economy. Are the answers that we are looking for right in front of our face? How can we recognize the right solutions and not fight against the very things that will help us out of our crisis. The News reports that some are terrified that if we don’t get the housing and credit market under control that this could become worst that the recession. However, I know that God allowed my family to make it through the recession; I know this because here is sit and if he did it for them he will do it for us. While, I don’t presume to know all the answer I will share with you some practical things that I am doing. I am on a 7 day a weekly menu my parent often spoke of how they had fried chicken every Sunday. I change my menu every month but it’s the same concept; this is practical because you can go to bulk retail stores like Sams Club. You can also save cooking time by cooking that day’s menu for the whole month. An example would be if you wanted to make spaghetti sauce for the month. After you make the sauce you can vacuum seal them and when you are ready to cook them you just put the bag in a pot of boiling water and it will ready in a matter of minutes. Another thing that can help is to go through your budget and try to buy extra items every month. You might also want to invest in buying seeds for your spring or summer garden or even to trade. I will be posting more details on the menu; the menu is also

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