ChickOn2 Posted July 31, 2009 Report Share Posted July 31, 2009 annnnnndddd It's BACKhttp://www.daytondailynews.com/news/nation-world-news/house-approves-2b-more-for-cash-for-clunkers-229353.html House approves $2B more for 'cash for clunkers' By KEN THOMAS, The Associated Press Updated 1:31 PM Friday, July 31, 2009 WASHINGTON — The House has voted to rush an additional $2 billion into the popular but financially strapped "cash for clunkers" car purchase program.The bill was approved on a vote of 316-109. House members acted within hours of learning from Transportation Secretary Ray LaHood that the program was running out of money.Called the Car Allowance Rebate System, or CARS, the program is designed to help the economy and the environment by spurring new car sales. Car owners can receive federal subsidies of up to $4,500 for trading in their old cars for new ones that achieve significantly higher gas mileage.House Majority Leader Steny Hoyer said the new money for the program would come from funds approved earlier in the year as part of an economic stimulus bill. Quote Link to comment Share on other sites More sharing options...
magley64 Posted July 31, 2009 Report Share Posted July 31, 2009 (edited) well that was quick...so which is better for the us economy?foregn car made in USA, or domestic car made abroad?obviously american workers are a big part of the equation.american investors...and american execs are probably the smallest part of the equation (to me)... Edited July 31, 2009 by magley64 Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted July 31, 2009 Report Share Posted July 31, 2009 I thought that rhetoric died down after Microsoft said, you do that and we'll take more jobs over seas and you can kiss our butts goodbye. But I see your point! http://www.bloomberg.com/apps/news?pid=20601087&sid=aAKluP7yIwJY Quote Link to comment Share on other sites More sharing options...
Disclaimer Posted August 5, 2009 Report Share Posted August 5, 2009 Where Cash For Clunkers Money Is Being SpentVia JalopnikMore than $600 million has been requested for Cash For Clunkers vouchers. But where's it being requested from? Below, a state-by-state analysis of where the money's heading. The natural assumption would be states with the largest populations would be requesting the most money from the CARS Act pool of just-under-a-billion-bucks. Actually, domestic car-producing states who have a large stake in the industry, are where most of the transactions are occurring. According to data from the NHTSA, Michigan is the highest-ranked state in terms of spending with $34,420,500 in voucher requests through Monday afternoon. This far outpaces Ohio, which is in second with $29,274,000 in requested vouchers. California is the most populous state in the nation, but is in third with $26,433,000, followed closely by Minnesota with $26,168,000 in requests. The smallest states do tend to correlate more closely with population, with Wyoming and Vermont near the bottom with $302,500 and $1,650,000 respectively. The division with the least number of trades? You'd think it'd be the territory of Guam, which had a singular Cash For Clunker request for a total of $4,500. It's not. The District of Columbia beats Guam out with a total of zero Cash for Clunker requests. That's right, not a single person in Washington, DC took advantage of the program. Go figure. Overall, Cash For Clunkers appears to have popularity across the map with the highest concentration where people are concerned with the performance of the Not-So-Big Three. That makes sense to us. Quote Link to comment Share on other sites More sharing options...
Likwid Posted August 5, 2009 Report Share Posted August 5, 2009 Lots of clunkers in OH and MI.... Quote Link to comment Share on other sites More sharing options...
Bodyman Posted August 5, 2009 Report Share Posted August 5, 2009 Yeah I know how they do that, and it does suck! I think that its a way for the Government to regulate the industry. They have an interest in the business, and that gives them a way to control things. Stops putting older cars back into circulation, so that people will have to eventually have to buy new. Bummer!!! Quote Link to comment Share on other sites More sharing options...
magley64 Posted August 5, 2009 Report Share Posted August 5, 2009 i still think the definition of clunker is off...and the engine isn't the biggest factor in deciding the fuel efficiency of a vehicle...it's weight... Quote Link to comment Share on other sites More sharing options...
shittygsxr Posted August 5, 2009 Report Share Posted August 5, 2009 A while back I said rather than bail out the big three with "handouts" lets just replace police cruisers and aging city vehicles. American companies survive and aging fleets get replaced, win - win. I wonder if all of these car sales and the "cars" program have affected the stock price of ford?It seems that the share price of Ford went up about 33% in the last 90 days, I wonder if somebody has made a big profit? I guess insider trading laws don't apply to the government officials Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted August 5, 2009 Report Share Posted August 5, 2009 having skimmed through this i may have missed it, why dont(didn't) we invest all this money (that i thought we didn't have) into something a bit more longterm such as alternative fuels? Quote Link to comment Share on other sites More sharing options...
Likwid Posted August 5, 2009 Report Share Posted August 5, 2009 having skimmed through this i may have missed it, why dont(didn't) we invest all this money (that i thought we didn't have) into something a bit more longterm such as alternative fuels?Because then Big Oil would be out of business and all people that signed off on it will "die of natural causes" tomorrow Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted August 5, 2009 Report Share Posted August 5, 2009 awesome. Quote Link to comment Share on other sites More sharing options...
magley64 Posted August 5, 2009 Report Share Posted August 5, 2009 alternative fuel?you mean like cng? or hydrogen? or AAA batteries?the problem with compressed gasses is storage/refill stations...the problem with electricity is power storage/recharge times...these problems can be addressed, but it takes time... Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted August 5, 2009 Report Share Posted August 5, 2009 A while back I said rather than bail out the big three with "handouts" lets just replace police cruisers and aging city vehicles. American companies survive and aging fleets get replaced, win - win. I wonder if all of these car sales and the "cars" program have affected the stock price of ford?It seems that the share price of Ford went up about 33% in the last 90 days, I wonder if somebody has made a big profit? I guess insider trading laws don't apply to the government officialsI like your fleet idea, thats interesting. As for Ford, I thought they didn't take any government money (If I'm not mistaken) and the surge in their sales was due to the negative stigma of their domestic competition (chrysler and GM) who took bailout money. Quote Link to comment Share on other sites More sharing options...
shittygsxr Posted August 5, 2009 Report Share Posted August 5, 2009 I like your fleet idea, thats interesting. As for Ford, I thought they didn't take any government money (If I'm not mistaken) and the surge in their sales was due to the negative stigma of their domestic competition (chrysler and GM) who took bailout money.I am wondering what kind of information government officials are leaking out to their "buddies" there is a huge profit to be made when you know what kind of legislation is going to pass. For example the "CARS" program ran out of money last week and Fords stock closed right around $8 on Friday. After the announcement Ford stock opened at about $8.75 on Monday that is a 9.375% gain. With some of that info you could have made a killing in the options market. Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted August 5, 2009 Report Share Posted August 5, 2009 ^^ good point. I'm sure many of them have vested interests with the UAW too... Maybe we should buy in now before the next two bill gets approved this week!?! Quote Link to comment Share on other sites More sharing options...
dmagicglock Posted August 15, 2009 Report Share Posted August 15, 2009 http://www.foxnews.com/politics/elections/2009/08/14/asian-carmakers-doing-especially-cash-clunkers/ Quote Link to comment Share on other sites More sharing options...
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