Word: scrapped
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...Germany. And this week, the police charged with patrolling the harbor released evidence showing that Germany's hugely popular cash-for-clunkers program may have some unintended beneficiaries: organized-crime groups and individuals who export the old cars to the Third World instead of crushing them into scrap. (Watch a video on how the cars-for-clunkers process works...
...plan is meant to help scrap dealers too. They get the old cars for free, the idea being that they can then earn money by selling the scrap metal to steel companies. But with scrap prices taking a dive, some dealers are eying the bigger profits that come from selling the cars abroad. "The problem is that there is no supervision of the companies to ensure that they actually scrap the cars," says Frank Wolff, director of the environmental-crime division of the Hamburg police. "These firms are supposed to turn the cars into scrap, but instead, some are selling...
Read "Germany's Auto-Woes Fix: Scrap That Clunker...
...Once the engine is dead, a recycling lot can take possession of the car. From that time, it has 180 days to sell the pieces of the car that retain some value. Even though the engine's a lost cause, everything from the scrap metal to the hubcaps is available to buyers. When the resale period is up, any leftover parts must be destroyed, and the government is notified that the car is gone for good...
...Washington RIP, F-22? In a 58-40 split, the U.S. Senate voted July 21 to scrap orders for seven F-22 fighter jets from a $679.8 billion military-spending bill, ending a standoff between lawmakers who defended the $1.75 billion project (which does not include R&D costs) as a way to create as many as 25,000 jobs and those who derided the combat plane as a relic of the Cold War. President Barack Obama, who threatened to veto the entire bill if the F-22 plans weren't eliminated, hailed the decision as a major victory...