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As a man thinks, so he is. Some people are never. Recent Posts
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CarSpace Alternate RouteTurn off the nav system, crumple up that MapQuest printout, and let's find out where the next random turn may take us! Oct 21, 2009 - I'm Shocked... Shocked
WASHINGTON — The shockingly poor financial management of General Motors and Chrysler weakened their case for a government bailout, but officials feared letting the automakers collapse would severely harm the U.S. economy, the former head of the Obama administration's auto task force says... "We were shocked, even beyond our low expectations, by the poor state of both GM and Chrysler. Looking just at the condition of GM's finances and Chrysler's new-car pipeline, the case for a bailout was weak," Rattner wrote. In case you missed it Mr. Rattner, they collapsed and filed bankruptcy anyway. The case for a bailout was weak, but rather than let economic nature take its course, you had to meddle, and in the process threw our money down a black hole from which it will never, ever return. Next time you have an idea, sit on your hands and keep quiet.
Sep 9, 2009 - No, Really??
The federal government is unlikely to recoup all of the billions of dollars that it has invested in General Motors and Chrysler, according to a new congressional oversight report assessing the automakers' rescue. I don't know about you, but I'm shocked that throwing money at a dying company like GM didn't just turn things right around. Oh wait, Cash for Clunkers restarted car sales and all was fixed, right? And some people wonder why folks are skeptical about the government getting involved in anything. Read more at the Washington Post
Sep 2, 2009 - What's Forced Up...
The auto industry temporarily awoke from its slumber last month thanks to the U.S. government's "Cash for Clunkers" program, led by a 17% sales jump at Ford Motor Co. and higher sales from Japan auto makers Toyota Motor Corp. and Honda Motor Co. Why do I get the feeling that some "experts" are going to be surprised when the cars aren't selling in October.
Aug 28, 2009 - Foul Weather Ahead?
DOW JONES NEWSWIRES
Aug 27, 2009 - Carometric Pressure
What we're looking at is a population of buyers who suddenly were pushed over the edge into buying (almost) any new car of their choosing. Highlights from the Washington Post: Eight of the top 10 new cars purchased through the program came from Honda, Hyundai, Nissan and Toyota, which claimed the top spot with its Corolla. I don't think it's any coincidence that Fords were the only vehicles in the top ten from the "manufacturer's formerly known as the Big Three" and that Ford was the only one not bailed out to prevent a bankruptcy. The way that worked so well is why I have doubts that C4C was a good idea. Government meddling in markets and unitended consequences go hand in hand. The Import Wars, which started with some minor skirmishing about 40 years ago and turned into a full-fledged invasion when Detroit was throwing K-cars at the beaches to try and stop the landings, seem to have a winner.
Aug 21, 2009 - Fun & Games
Maryland Students Use Speed Cameras for Revenge Just as we all know... nothing ever can go wrong with a government program
Aug 14, 2009 - The Check Is In The Mail
Did everyone forget we're talking about government bureaucracy here? Dealers across the country are reporting that reimbursement issues continue to stall the wildly popular incentives program. They have submitted requests for rebates on 338,659 vehicles sold, at a cost of about $1.4 billion to the government, according to sales data summarized by Transportation Department officials. David Wilson, a Toyota dealer in Orange County, Calif., told Automotive News that he has been paid for only three of 92 claims he submitted before Aug. 2, leaving him on the hook for about $374,000. In total, he has 450 unpaid claims filed for $1.9 million. Psssst... David. You really didn't think they had that money to give away for real, did you?
Aug 5, 2009 - There Is No Such Thing As Free Bird Seed
Why aren't we as smart as that? The Vice President is calling cash for clunkers "an unqualified success". If you ignore the consequences of the program and think you've scored political points by giving away money we don't have you might think that. But questions are arising. Jeremy Anwyl, CEO of Edmunds.com, noted that August is typically a hot month for auto sales because bargain hunters search for deals on outgoing model year vehicles as car dealers clear out their lots to make room for the new models. At least somebody is as smart as the Road Runner! Read the entire AP story
Jul 31, 2009 - Pleading Poverty?
Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases. Excuse me?? Wasn't that the whole idea??? I certainly hope some of this "fiscal restraint" shows up while they're talking about bankrupting us with national health care. Congress truly is the opposite of progress.
Jul 30, 2009 - Promises, Promises
As I said a few days ago, those lips were moving when he said that. Given a chance to give taxpayers stock certificates for their share of the government's ownership stake in General Motors Co. and Chrysler Group LLC, the Senate rejected a proposal which also would have blocked the government from using any more money from last year's Wall Street bailout to help out the car companies. Sen. Dick Durbin, D-Ill., said the amendment would dilute the power of the government to deal with the companies, especially GM. Uh huh... not interested in running GM... not at all.
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