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...cash-for-clunkers program a success? The short answer is yes. The program accomplished what it was set out to do, which was to get consumers back into the showrooms and to jump-start new-vehicle sales...
...program did reduce inventories. Will this affect manufacturers' incentives over the next few months? For the next four to six weeks, it will result in a drop in incentives for most categories. Once the additional production starts arriving on the lots, probably starting in late September, we will see the incentives start to climb back up, and that should last for the rest of the year. (See pictures of the best-selling cars in China...
...though White House economic adviser Lawrence Summers has yearned for the job. The markets like stability, and they really like Bernanke. And Obama might have done the same thing even if he did have a choice. Bernanke hasn't been flawless - he was slow to grasp the crisis and start yanking interest rates down toward zero, and market watchers will forever second-guess the decision to let Lehman go under. But overall he's been courageous and innovative and (so far) successful. And while he's fairly new to Washington, he's shown a flair for politics and p.r., doing...
...tell UNHCR that they should start buying tents [for the communities that would be forced to move in search of drinking water]," says Michael Klingler, a hydrologist and the local director of GTZ, the German government's technical-assistance team, which is advising Yemen on water-management issues...
Bill Clinton's mission to rescue the two journalists held captive by Pyongyang marked the start of the latest North Korean charm offensive, with Kim trying to play the affable host to the serious ex-President of the U.S. It continued when Pyongyang released a South Korean businessman it was also holding as a hostage, and it intensified last weekend, when North Korea sent a delegation of officials - including its chief spymaster, head of intelligence Kim Yang Gon - to the funeral for the late South Korean President Kim Dae Jung. The delegation stayed an extra day, requesting and getting...