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Just in from the Associated Press: 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...

If you didn't see this one coming you must have been born yesterday. 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. The report said that a $5.4 billion portion of the $10.5 billion owed by Chrysler is "highly unlikely" to be repaid, while full recovery of the $50 billion sunk into GM would require the company's stock to reach unprecedented heights...

From CNNMoney.com 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...

Gee, even Dub Schwartz saw this one coming.  DOW JONES NEWSWIRES New-vehicle sales are expected to increase 18% in August from July in the U.S. on the popular "Cash for Clunkers" government program, but still remain down 6% from a year earlier, according to Edmunds.com...

Whether Cash For Clunkers was a success, or whether it even was a good idea is another topic for another day. Today I'm interested in (and isn't that the self-centered point of a blog, what interests me?) the makeup of the most purchased and most clunkerized vehicles. 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...

One of the morning hosts on WRSC FM 103.1 here in State College just got a speed camera ticket from Maryland in the mail. Apparently not only the guilty are getting them though... Maryland Students Use Speed Cameras for Revenge High school students in Maryland are using speed cameras as a tool to fine innocent drivers in a game, according to the Montgomery County Sentinel newspaper...

Cash for clunkers! Step right up and get your free money! Did everyone forget we're talking about government bureaucracy here?..

The Road Runner could always right through the "Free Bird Seed" signs and avoid the various ACME traps that Wile E. Coyote set up for him. Why aren't we as smart as that?..

Govt to suspend 'cash for clunkers' is how the headline reads. 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??..

"So we are acting as reluctant shareholders, because that is the only way to help GM succeed. What we are not doing, what I have no interest in doing, is running GM."  - President Obama 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...