Word: cash
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...these problems with one policy: to stimulate demand for American cars while making the U.S. auto fleet cleaner, greener and more efficient? It sounds like the kind of slick two-for-one pitch you might hear from a used-car salesman, but that's exactly what proponents of a "cash for clunkers" program are promising. (See the 50 worst cars of all time...
...broad outlines, the prospective policy - for which a number of proposals have been put forward in Congress - would offer Americans cash rebates of up to several thousand dollars if they traded in an old, inefficient car for a new, greener one. The ailing U.S. automakers would receive a shot in the arm - potentially worth up to 2 million additional sales a year - while polluting cars would be taken off the road and replaced with more efficient ones. (All cash-for-clunkers programs require the old cars to be scrapped rather than resold.) "There are significant environmental advantages and substantive benefits...
...President Barack Obama has signaled that he would favor a cash-for-clunkers-style program, saying in a speech on March 30 that he wanted to work with Congress on finding money for rebates in existing stimulus spending. And similar programs already in place in Germany and other European countries have proved very successful - thanks to continental Europe's cash-for-clunkers plan, analysts say that European car sales are now running at more than 13 million vehicles a year, up from an 11 million pace at the start of the year. "It has been pretty successful...
According to The Wall Street Journal, "If confirmed, Mr. Allison will become point person for what has become an unpopular program. He'll have to defend plans for spending the program's remaining cash, and would likely represent the administration if it requests more bailout funds, which many observers expect." (See "Four Steps to Ending the Foreclosure Crisis...
...that shippers' insurance firms have been willing to pay for (up to $3 million for a single vessel). About 20,000 merchant ships traverse the waterway each year; there have already been 74 attacks and 15 hijackings in 2009, compared with 111 attacks last year. The pirates generally want cash, not trouble. They've treated their hostages well, and violence has been rare. All of that changed, of course, last week when a quartet of Somalis seized Phillips from the U.S.-flagged Maersk Alabama. In the wake of the U.S. action, some pirates and Somali warlords have pledged to take...