Word: carli
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When congress voted in june to play car dealer, some observers fretted that offering consumers $3,500 to $4,500 to trade in a gas guzzler for a more fuel-efficient new car wasn't going to be generous enough to attract many takers...
Turns out the terms may have been too rich. Cash for clunkers (the official name is Consumer Assistance to Recycle and Save, a.k.a. CARS, but nobody calls it that) had customers scrambling to car dealerships in droves after it went live on July 27. Despite being in effect for only a few days, the program helped drive July auto sales to an annualized rate of 11.2 million vehicles, from just 9.7 million in June. In reaction, Wall Street economists have ratcheted up forecasts for third-quarter economic growth...
...interest of goosing the economy and helping automakers, the current program requires new-car purchases and doesn't mandate huge jumps in gas mileage. Happily, the first wave of buyers opted for cars more fuel-efficient than the law demands. The top three sellers in the first week were the Ford Focus, Toyota Corolla and Honda Civic (all made in the U.S. but with lots of foreign parts). Now the turned-in vehicles (the Ford Explorer led the list) are headed for the scrapyard, but only after their engines are snuffed with a solution of liquid glass (sodium silicate...
...Erin Arvedlund (Portfolio) carefully details how Madoff's marks, some of them supposedly sharp hedge-fund managers, became feeder funds for Madoff's enterprise by willfully or negligently failing in their due diligence to check out the bogus Madoff claims. "The same people did more research on buying a car than they did on the man who handled their money," she writes...
...ethnic Hazara member of parliament has made a name for himself in recent months with a non-stop, everyman campaign by car, bicycle and on foot that has spanned 24 of Afghanistan's 34 provinces. In a country where ethnic fault lines are steeped in bloodshed, Bashardost is trying to bridge the divide by appealing to common grievances such as corruption, insecurity and a lack of basic services. His trademark black vest features an embroidered white dove of peace. But he talks tough about President Hamid Karzai and self-serving warlords he says have betrayed the Afghan public through their...