A lot has happened since my last entry. Cash for Clunkers came and went, Ed Whitacre is broadcasting his GM vision, and President Obama is addressing the AFL-CIO. To be fair, the Cash for
Clunkers can be deemed a success. There has been a tremendous response at dealerships as Americans held out for their $4500 credit. Many vehicles were traded in and something amazing happened: your neighbor bought a new car and the price of a used car rose in some cases as much as $3-$5K. Sure, sure, the dealers were given an extra day to file the paperwork, but the computer system was down...wah-waahh. What I haven't seen is just how many dealerships are still waiting to get paid. Some were on the bubble to begin with so it will be interesting to discover just how many more have had to close, but hopefully most did not.
Ed makes the news again and I am glad he is the Chairman of GM. He may seem like an outsider, but his sensibility and straight-talk may have more people believing GM does make a good car (unless it is a Pontiac, Saturn, or Hummer). And with a 60-day money-back guarantee, what could possibly go wrong (other than Ford making better vehicles and not requiring a bailout)? And speaking of bailout, it was reported that it was never the intention of Chrysler to ever be in a position to pay back the billions received in bailout money. Nice to know that they are keeping up the tradition of substandard performance alive.
And lastly, The Big "O" (no, not Oprah) addressed the AFL-CIO, guaranteeing Americans jobs and health care. I appreciate the bravado, but I hardly think addressing the group that lead us to American automotive ruin really needs to hear this message. Then again, he did support the working middle-class and they support him. No
lying here, please, but let's all keep an eye on it. And on a somber note, my beloved Formula One racing will have to make due without
BMW. Not even engines will be supplied after 2009. More than the races will be interesting to watch as the economy puts a squeeze on the most expensive auto sport in the world.
Clunkers can be deemed a success. There has been a tremendous response at dealerships as Americans held out for their $4500 credit. Many vehicles were traded in and something amazing happened: your neighbor bought a new car and the price of a used car rose in some cases as much as $3-$5K. Sure, sure, the dealers were given an extra day to file the paperwork, but the computer system was down...wah-waahh. What I haven't seen is just how many dealerships are still waiting to get paid. Some were on the bubble to begin with so it will be interesting to discover just how many more have had to close, but hopefully most did not.
Ed makes the news again and I am glad he is the Chairman of GM. He may seem like an outsider, but his sensibility and straight-talk may have more people believing GM does make a good car (unless it is a Pontiac, Saturn, or Hummer). And with a 60-day money-back guarantee, what could possibly go wrong (other than Ford making better vehicles and not requiring a bailout)? And speaking of bailout, it was reported that it was never the intention of Chrysler to ever be in a position to pay back the billions received in bailout money. Nice to know that they are keeping up the tradition of substandard performance alive. 
And lastly, The Big "O" (no, not Oprah) addressed the AFL-CIO, guaranteeing Americans jobs and health care. I appreciate the bravado, but I hardly think addressing the group that lead us to American automotive ruin really needs to hear this message. Then again, he did support the working middle-class and they support him. No
lying here, please, but let's all keep an eye on it. And on a somber note, my beloved Formula One racing will have to make due without BMW. Not even engines will be supplied after 2009. More than the races will be interesting to watch as the economy puts a squeeze on the most expensive auto sport in the world. 
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