OMG, I WANT it. <drool>
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  2-2-12, 3:42pm | Post
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Whining lawyers seem to be coming out of the woodwork.
Law schools face lawsuits over job-placement claims QUOTE On Wednesday, Bevelacqua joined 50 other law school graduates from across the country who sued their alma maters, alleging they were misled about job prospects and burdened with huge amounts of student debt.
The 12 lawsuits mark the latest round of litigation against law schools for allegedly misrepresenting their employment data. Last year, similar lawsuits were filed against New York Law School, Thomas M. Cooley Law School and Thomas Jefferson School of Law. |
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2-8-12, 2:27pm | Post
#92
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^^^^^^^^^^^^^^
Huh??? Honda Civic Mileage Verdict Has Industry Sweating 2013 Ford Shelby GT500 Convertible at the 2012 Chicago Auto Show 
This post has been edited by kar522: 2-8-12, 3:09pm |
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2-9-12, 12:37pm | Post
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I have no plans to draw anyone a map; but the ranks of PIA lawyers seem to grow all the time. So are Indians also boozers in IA or IL? Given half a chance, there would be casino gambling ran by some tribe in SW MO, except the Branson crowd has too much pull.
To keep with the automotive theme, http://www.youtube.com/watch?v=BiTYf8iJC84 QUOTE Tribe sues brewers, stores over liquor problems An American Indian tribe sued some of the world's largest beer makers Thursday, claiming they knowingly contributed to devastating alcohol-related problems on South Dakota's Pine Ridge Indian Reservation. The Oglala Sioux Tribe of South Dakota said it is demanding $500 million in damages for the cost of health care, social services and child rehabilitation caused by chronic alcoholism on the reservation, where alcohol is banned. The lawsuit names Anheuser-Busch InBev Worldwide, SAB Miller, Molson Coors Brewing Company, MIllerCoors LLC and Pabst Brewing Company as defendants. The lawsuit says one in four children born on the reservation suffer from fetal alcohol syndrome or fetal alcohol spectrum disorder. The average life expectancy is estimated between 45 and 52 years, the shortest in North America except for Haiti, according to the lawsuit. The average American life expectancy is 77.5 years. The lawsuit filed in U.S. District Court of Nebraska also targets four offsite beer stores in Whiteclay, a Nebraska town that despite having only about a dozen residents sold nearly 5 million cans of beer in 2010. Most of its customers come from the reservation on the town's border. Leaders of the tribe blame the Whiteclay businesses for bootlegging on the reservation. The lawsuit alleges that the beer makers supplied the stores with "volumes of beer far in excess of an amount that could be sold in compliance with the laws of the state of Nebraska" and the tribe. A spokeswoman for Anheuser-Busch InBev Worldwide said she was not yet aware of the lawsuit Thursday afternoon. Representatives for the four beer stores declined comment or were unavailable. The reservation has struggled with alcoholism and poverty for generations, despite an alcohol ban in place since 1832. Pine Ridge legalized alcohol in 1970 but restored the ban two months later, and an attempt to allow it in 2004 died after a public outcry. Pine Ridge encompasses some of the nation's poorest counties. U.S. census statistics place Shannon County, South Dakota, as the third-poorest, with a median household income of $27,300 and nearly half of the population meeting federal poverty standards. http://www.msnbc.msn.com/id/46329414/ns/bu...ar#.TzQrvMX2Zqw |
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2-9-12, 1:08pm | Post
#94
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While the Volvo probably can't burn rubber, it sure can burn wood.
 I seriously doubt if the Swiss allow Pascal to use the Gotthard Road Tunnel. Zany Swiss man installs wood-burning stove in car |
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2-22-12, 5:11pm | Post
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One of the further out counties that has been built up, now has folks who don't know the rural ways. High school students use tu drive to school and leave the rifle or shotgun in the truck gun rack. Trucks that had seen better days were often turn into sled puller or mud pit machine. Families for generations kept buying and driving the same line of vehcles from one of The Big Three.
Given it's around 150 miles round trip, if you work in St. Louis, most who live in that county won't be buying a Volt, even if camr with a gun rack option. There is a GM auto assembly plant in the county south and closer to St. Louis. Many of the locals were glad this plant was moved from St. Louis City to out there, except the ghetto came with it. The old plant use to also manufacturer Vettes; put that production went to Bowling Green, KY. My understanding is that KY officials keeps a lid on the two legged animals that moved south. QUOTE A gun rack on a Chevy Volt? General Motors (GM -1.88%) is getting pulled into campaign politics again, and this time the company is fighting back. The automaker is standing up to Newt Gingrich's claims that the $40,000 Volt is an "Obama car" that shouldn't get government subsidies because it's purchased mainly by the wealthy. "You can't put a gun rack in a Volt," Gingrich said in this video, drawing lots of cheers and laughter from the crowd. The company took to its blog to say that, actually, you can put a gun rack on a Volt. But the real question, GM asked, is why would you. It looks weird, doesn't work very well, and would be like putting training wheels on a Harley. "Seriously, when is the last time you saw a gun rack in ANY sedan?" executive Selim Bingol asked on the GM blog. There are better places for gun racks and training wheels, like pickups and little Schwinns, he said. And he added this zinger as a title: "We did not engineer the Volt to be a political punching bag." Then a Volt owner in Georgia decided to take the conversation up a notch. He actually made a gun rack for his Volt out of PVC pipe and hooks, affixed it to his car with rope and made a video of the whole thing. The Huffington Post reports that the Volt owner, John McDole, is a Republican who works for Google (GOOG -0.99%). McDole said he made the video as a "response to Newt Gingrich's cheap shots at the American designed, American made, and American powered" Volt. The responses seem not to address a central point of Gingrich's claim, however. Should a car bought mostly by wealthy Americans get government subsidies? Could the money be used better elsewhere? At any rate, expect GM to be a huge political punching bag this year. The government still owns 26.5% of the company and needs the share price to rise before it can sell. The government got those shares after its $49.5 billion bailout of GM and so far has recouped about $22.3 billion, The Associated Press reports. In order to break even on the rest, it must wait for GM shares to hit about $53. But that will probably take a while, as GM shares were trading at less than $27 Wednesday. http://money.msn.com/top-stocks/post.aspx?...fb-5c810007f8f3 This post has been edited by kas: 2-22-12, 5:14pm |
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3-2-12, 3:18pm | Post
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3-2-12, 4:26pm | Post
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In related news, The Bieb's possee got him a government financial ride.
Now THAT'S a happy 18th birthday! Justin Bieber gets a $100,000 electric sports car to add to his fleet |
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3-8-12, 5:01pm | Post
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IMHO, you ain't going hear me say I want a Fisker or a POS Volt five years from now. For those who watch The Five, someone should inform Bob that Henry Ford was as cluless as the buffoon. While Ford assumed consumers only needed a car in black, General Motors allowed folks to buy cars in various colors. Today, William Durant and Alfred Sloan would have stood up to the buffoon and his UAW lackeys.
Visit My Website |
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3-20-12, 7:42pm | Post
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http://www.youtube.com/watch?v=o1c4QZGQw5o
 QUOTE World's Smallest Car Makes a Comeback Originally marketed as spacious enough for only a driver and a shopping bag, the Peel P50 rolled off production lines on Britain's Isle of Man in the 1960s with one door, one headlight and a single windshield wiper. It was 54 inches long and 41 inches wide and weighed no more than your average teenager, 130 pounds, making it the smallest production car ever. The P50 and its slightly bigger sister, the Peel Trident, went out of production in the mid-1960s, but two years ago a new manufacturer decided to revive the brand. Now, as skyrocketing gas prices have sparked a small-car heyday, 50 drivers will have the chance to own a new one. The newly re-formed Peel Engineering Co. is producing the P50 and the Trident, which is cherry red with a clear, dome-shaped roof, in a batch of 50 vehicles at a price that's appealingly low -- $12,676, according to Gizmag -- though not quite as inexpensive as the original $315 price tag ("Almost cheaper than walking," went the marketing slogan). The micro-mini cars will be available in gasoline and electric versions, and the Peel P50 will topple the Tata Nano as the world's current smallest production car. It joins a growing international fleet of micro-mini vehicles, including the Volkswagen Up! and the Scion iQ. In terms of the Peel's drivability and comfort, in an episode of "Top Gear" a few years ago (below), host Jeremy Clarkson managed to cram his 6-foot, 5-inch body into a P50 for a test drive. He noted that the vehicle's top speed depended on how big a breakfast the driver had eaten, but that even the slenderest of Peel drivers likely wouldn't be able to push its 49-cc moped engine above 35 mph. Arriving at his office behind the minuscule wheel of the P50, Clarkson simply picked it up and brought it inside -- no need to look for a parking spot. Curious drivers who don't want to commit to purchasing the diminutive car can rent a Peel in the U.K. -- though the daily rental fee, at $1,585, might be steep enough to make them consider buying one instead. http://editorial.autos.msn.com/blogs/autos...icid=autos_2557 This post has been edited by kas: 3-20-12, 7:44pm |
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3-22-12, 1:49pm | Post
#100
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Given Americans were clueless when the Feds attempted to hype the metric system, we can't be like the Europeans and price petrol by the litre (liter). On the other hand, $3.13 on the sign wouldn't bad, until folks realize that the price for a quart of unlead 87 octane.
Would someone tell the clowns at Nissan they are full of $h!+ on their no pollution electric Leaf. Most electricity is made in coal fired plants, followed by natural gas ones. QUOTE Study: $12.50 Gas Would Make Chevy Volt Cost-Effective President Barack Obama has said that upon leaving office after his second term, he plans on buying an electric Chevy Volt. But according to the Lundberg Survey, the price of a gallon of gas would need to rise to $12.50 before the Volt would be cost-effective for consumers. The reason: before government subsidies, the Chevy Volt costs roughly $40,000. The Nissan Leaf fared little better. Gas would need to skyrocket to $8.53 a gallon in order for the Leaf to be economically competitive, "based on the cost of gasoline versus electricity, fuel efficiency and depreciation." Mr. Obama has set a goal of having one million electric battery-powered vehicles on American roads by 2015, but experts predict the actual number will be less than 200,000, due to low consumer demand. By 2017, Edmunds predicts that "pure electric cars and plug-in hybrids to make up only 1.5 percent of the U.S. market in 2017, compared with 0.1 percent last year," a projection that, while lackluster, some experts believe is overly optimistic. Still, Mr. Obama wants to raise the taxpayer-funded subsidies for electric vehicles from $7,500 to $10,000. Beyond the consumer "rebates," taxpayers have seen millions of their dollars wasted in the form of federal grants: Meanwhile, several companies have struggled due to lack of funding or customer troubles. A123 Systems posted a wider-than-expected fourth-quarter loss this month after Fisker, one of its largest customers, cut battery orders. Bright Automotive, an Indiana electric commercial truck start-up, closed its doors in February after failing to get a federal loan. Ener1 Inc, which received a $118.5 million federal grant to make lithium-ion batteries for EVs, filed for bankruptcy in January, and Aptera Motors, a California-based EV start-up, went out of business last December after it couldn't raise $80 million in private funding. For these reasons and more, Bob Martin, a senior consultant to The CarLab, says the viability of electric cars remain largely a mirage: "It's been the Kool-Aid that the entire political system has been drinking for a decade. Electric cars are not ready for prime time. They're really interesting toys for very, very rich people." http://www.breitbart.com/Big-Government/20...-cost-effective |
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3-29-12, 12:38pm | Post
#101
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Given the obama loving mentality at MSN, I'm surprise this Kiplinger article was even linked to on my homepage. Of what use to be the Big 3, only Ford has a vehicle in this list of cheap new cars, based on a five year period. Remember the typical Volt owners are useless and clueless and on average make around $150,000 annually. Those other bargain basement UAW/Government rides too often are 'tickets' for mechanics to bring home good weekly pay checks.
10 Cheapest Cars to Own This post has been edited by kas: 3-29-12, 12:40pm |
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4-5-12, 8:46am | Post
#102
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QUOTE (kas @ 5-24-11, 3:48pm)  Oh by the way, NYC opted for a fugly looking hybrid Nissan to be the taxi of the future, which will be made in Turkey.  Drivers grumble, naturally, over New York's new cabs |
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4-7-12, 10:01am | Post
#103
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Good new to all the clueless and useless, the car of the future has arrived. I sort of believe one might need to be as skinny as a rail and so Big Mama won't be getting anywhere near that 3,000 MPG.
 QUOTE Driving across country on a single tank of gas is suddenly possible -- in theory. A new, tiny, gold car with a bullet-shaped front section, called the Lamina, gets 3,000 mpg. Designed by students at California Polytechnic University for the annual 2012 Shell Eco Marathon, the vehicle maxes out at 25 mph, so it would be an extremely long coast-to-coast trip. But still, the fuel-saving concepts behind the Lamina are worth a closer look. Size and weight are key. The designers used superlight carbon fiber, special low-resistance tires with BMX bike rims and a modified Honda generator, creating a vehicle that weighs just 70 pounds. "We aimed to create a modular engine and drive train in a single unit that can be taken out for tuning," Cal Poly team member Ann Peters wrote in a National Geographic blog post. "Lamina utilizes a ... technique in which the external skin of the vehicle, instead of an internal frame, supports the structural load." The 50-cc engine allows for a driving style called "burn and coast" in which the driver runs the engine to get up to speed, and then cuts it and coasts for as long as possible. "If you have to slam on your brakes when you come to a stop, you've probably used too much [fuel] to get there," Gabriel Mountjoy, a member of the Cal Poly design team, told Fox News (see below). "So that's just wasted fuel every time you put on your brakes." The student designers concede that combining all of the weight- and fuel-saving concepts they used for the Lamina isn't practical for regular cars, but each could be applied individually. And overall, our vehicles could already be far more fuel-efficient than they are. "You can actually get 100 miles per gallon even in a truck or something that isn't nearly as sleek or small as this thing," Mountjoy said. "It's really just sizing an engine properly for your car. We don't need all that extra horsepower that people love." The Lamina will make its debut in Houston this weekend at the Shell Eco Marathon, an annual contest that challenges students to build the world's most fuel-efficient vehicle with the fewest emissions. http://editorial.autos.msn.com/blogs/autos...icid=autos_2601 |
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4-8-12, 8:58pm | Post
#104
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From Kas's post in the TV thread, I thought, while I'm not a Ford guy, this did deserve at least a mention in this thread:
 Shelby rolls out a 950-horsepower Mustang |
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4-10-12, 8:40am | Post
#105
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Even officials in The Land of Fruits and Nuts have standards for pimping out an electric ride. The tint thing is because cops (according to the NYT a rise in 'pole leash' killings) want to see what innocent POS in hoodies are doing inside a vehicle.
 Justin's Bieber-mobile A Rolling Violation QUOTE Justin Bieber’s tricked out Fisker Karma sports car should have a bumper sticker that reads “Ticket Please”…'cause it’s chock full of violations…TMZ has learned -- but not for what you think.
The chromed out, $100 K, Bieber-mobile has been making appearances all over LA in the last few days …blinding drivers from its reflective paint job…but vehicle violation? No sir…just a gigantic, distracting pain in the ass. Law enforcement sources tell us the real problem …the row of FUCHSIA lights hidden under Justin’s front grill. That’s right, in CA, the only lights you can legally have facing forward are white and amber...not The Biebs signature purple That’s not all…we’re also told Justin’s window tint is a little too tinty…also qualifying as a major no-no. If caught Justin would be slapped with a 'fix-it ticket' citation. Note to Bieber..reflective chrome is not subtle ... then again, neither is the car. |
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4-11-12, 3:01pm | Post
#106
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 Ownership and management at Government Motors Explosion at GM Tech Center; Lithium Battery is the Suspected Cause |
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4-11-12, 5:23pm | Post
#107
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Zipcar is small potatoes compared to the locals, Enterprise Leasing. Given there seems to be a trend to soon jack up the cost of public transportation around the country and a possibly backlash by the losers, one might keep Zipcar in mind. Locally, riders cover just over 20% of operational cost, while in D.C., bus drivers pull down $60,000 the first year on the job.
QUOTE Zipcar to Add more Honda Vehicles to Fleet Honda on Wednesday said that it will expand the number of its models available through the Zipcar car-sharing service. The agreement between the companies will add more Honda Insight hybrids to the Zipcar fleet, as well as more CR-V compact SUVs. The Fit EV will arrive in the fleet this fall, and Accord plug-in sedans will come in early 2013, according to the company. The Zipcar service has more than 670,000 members and 8,900 vehicles in urban areas in the United States, Canada, the United Kingdom and Spain. "The future of mobility is being shaped by economic forces, evolving technology and global trends, from increased urbanization to concerns about climate change, to how the newest generation of drivers thinks about transportation," said Scott Griffith, chairman of Zipcar. "This win-win partnership with Honda adds to Zipcar's array of smart and sustainable transportation options." Honda benefits by having Zipcar drivers experience its technology and hopefully think about the brand when it comes time to purchase a car. To sign up for the service, potential customers can go to www.zipcar.com, add a user name and password and start renting. Customers have the choice between two plans, one for occasional drivers and one for drivers who know how often they'll need a car. Both cost far less than a car payment, gasoline, insurance and the maintenance of owning a car. http://editorial.autos.msn.com/blogs/autos...4f-3b90a6273c41 |
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4-12-12, 4:51am | Post
#108
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4-14-12, 7:14am | Post
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I bring you all another round of truth about the green car. Now if the clueless assume everyone want to drive vehicles that get >50 MPG, then why do they tolerate some ghetto clowns driving around in Detroit Iron. A few years back, MO went to a system that only do emission test on '96 or newer vehcile that run on gasoline. So gangstras have been going out and buying older cars and probably polluting the air. Since those with the '96 rides usually do the mandated safety with the emission, many of us question whether the safety inspection on some of those '95 or older vehicles ain't done to ghetto standards.
Some half-wit clueless lib will have her Volt or other electric 'toy car' totaled by a '72 Buick and the useless owner/driver won't be carrying insurance. Meanwhile the mother, sista and the GF of the baby daddy with the Buick, must ride public trasportation, since the buffoon's policies have priced cheap low emission cars out of the financial reach of the urban poor. Study: New fuel rules will cut 7M out of car market QUOTE The proposed rules will hike average fuel economy to 54.5 mpg for cars and trucks by 2025 — and will add about $2,000 to the typical cost of a car or truck, the Obama administration estimates. When combined with nearly $1,000 average cost hike for the 2012-2016 rules, a car in 2025 will cost $3,000 more than in 2011 — after adjusting for inflation.
NADA says nearly 7 million lower income consumers, such as college students and working families, will not qualify for auto financing to cover the additional cost. This post has been edited by kas: 4-14-12, 7:16am |
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4-16-12, 12:11pm | Post
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Oh no, being a clueless lib may mean wasting your money. What's worse, FordMoCo want to push a Geek Squad drone on you, if you are unsure if your house can handle a BEV.
Old rule of thumb, never purchase in the first model year or new technology. Best to have the manufacturer work out the bugs. QUOTE It doesn't always pay to buy fuel-efficient cars The recent run-up in fuel prices has put the spotlight on hybrids, battery cars and other high-mileage vehicles. But while it may sound great to get 40, even 50 miles a gallon, are you spending an arm and a leg to save far less than you might expect on your annual gasoline bill? Some hybrids carry a premium that can push up to $5,000 or more. The penalty is even higher with plug-ins and pure battery-electric vehicles, or BEVs. Even on many “eco” models using relatively conventional gasoline power you could be in for a stiff price penalty. But is it worth it? Not necessarily, if you’re simply trying to save money and not really worried about going “green.” But there are some models that minimize your up-front investment and deliver you savings fast. “The price of gas has consumers thinking about fuel economy but there’s a financial investment involved with most of these fuel-saving packages,” says Jesse Toprak, Vice President of Market Intelligence at TrueCar.com. “It’s important to compare the improvements in fuel economy and the extra costs of the package before purchasing a new vehicle.” Smart shoppers look at the so-called “payback period,” the time it takes to recover your up-front investment. On some models, the extra cost for that “eco” package can take you a decade – or more – to get your money back in the form of lower fuel bills. Toprak stresses that shoppers should be looking at the EPA’s Combined fuel economy number, not the Highway mileage manufacturers like to advertise. For most motorists, the lower Combined figure is likely to be closer to what you’ll actually get, day-to-day. Take the 2012 Honda Civic HF, it’s rated at 33.4 mpg, compared to 32.1 for the conventional Honda Civic LX. It also carries a typical price premium of about $766 on an average transaction price – or ATP – of $19,398. TrueCar estimates the average owner will need to keep the HF for 10.6 years to recover that premium. http://bottomline.msnbc.msn.com/_news/2012...cient-cars?lite |
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5-12-12, 7:21am | Post
#111
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QUOTE (kar522 @ 2-2-12, 9:06am) QUOTE (kas @ 1-3-12, 12:13pm) A woman who expected her 2006 Honda Civic Hybrid to be her dream car wants Honda to pay for not delivering the high mileage it promised. But rather than joining other owners in a class-action lawsuit, she is going solo in small claims court, an unusual move that could offer a bigger payout if it doesn't backfire. A trial is set for Tuesday afternoon in Torrance, where American Honda Motor Co. has its West Coast headquarters. Heather Peters says her car never came close to getting the promised 50 miles per gallon, and as its battery deteriorated, it was getting only 30 mpg. She wants Honda to pay for her trouble and the extra money she spent on gas. Honda Loses Small Claims Court Suit Over Civic Hybrid Fuel Economy A Los Angeles County court commissioner rules that the automaker negligently misled Civic owner Heather Peters when it claimed the hybrid could achieve as much as 50 miles per gallon. Honda Wins Appeal In Civic Hybrid Mileage Lawsuit A Los Angeles County judge rules in favor of the automaker, which previously lost a lawsuit in Small Claims Court over the Civic hybrid's advertised fuel economy. |
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5-12-12, 8:30am | Post
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IMHO, this is a well written and balanced article on CNG and usage by the public. One comment mentioned a need to chrome internal engine parts, due to water in CNG. One would think that homeowners and landlord would constantly face equipment that would rust after a few years, due to natural gas being used as a fuel. Actually, energy efficient gas furnance can produce exhaust so cool, there is no longer a need for a vertical (metal) stack that vents visual smoke on a very cold day. Note, the venting is now accomplished by a horizontal plastic pipe through an exterior wall.
Mass production, probably in China, of cyclinders required for CNG can be done cheaply, except are consumer willing to give up storage space in the trunk or the bed of the truck. Depending on whether emission testing is mandated and on what vehicles, those without this burden can purchase an aftermarket kit and cyclinder(s) to save thousands on a conversion. Is Natural Gas a Viable Option to Power Your Car? This post has been edited by kas: 5-12-12, 8:31am |
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6-6-12, 3:53am | Post
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Demand for the Chevy Volt Spikes in California
Will the car reach a tipping point in one of the nation's most important markets despite a recent halt in production and widespread criticism? |
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6-6-12, 4:55am | Post
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QUOTE (kar522 @ 6-6-12, 7:53am) The reason: Newer Volts can use the HOV lanes with only a single occupant.That's a huge time saver for some of the more congested cities in California, and worth the price premium to many people. |
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6-6-12, 5:54am | Post
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Given voters of a couple major cities in The Land of Fruits and Nuts voted yesterday to curtail their local leeches, I meant government unions, I have hope. The losers of CA rather opt for policies that make everything more expensive and over time, cause businesses and families to fled to other states. Heck why worry about traffic and high gasoline prices, when you part of this LA cluster frak, LA Injunction Allows 'Skid Row' Residents to Pollute Streets With Human Waste, Needles
On Monday, I heard that Government Motors has began a graveyard shift on a Flint, MI assembly plant that manufacturer heavy duty truck platform. My guess either businesses or other users, aka cities, need to replace their old vehicles or just want to get ahead of the clowns at the EPA. Finally, here's a message to the useless and clueless. Report: If elected president, Romney vows quick sale of government's GM stake This post has been edited by kas: 6-6-12, 8:07am |
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7-30-12, 5:38am | Post
#116
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Currently GM stock is $18 and change, which is way below the $53 target price to sell. Now when it come to starting a dealership, the dealer principal puts up a certain amount, issue stocks and then borrow from the manufacturer. Well all of the Big 3 and probably foreign car companies went out to way to have 'financially questionable' minority become owners of dealership. In the spirit of 'help a brother' too often loans were given to the clueless and useless types, who at first chance got behind in the payment and later had the car repossess. These events happen too often and the dealership goes into the crapper. Also like some big name stores, only a fool would operate a dealership in a area where your better customers won't be caught on the roads, day or night.
If your credit score sucks, society doesn't owe you the chance to buy either a home or new car until you get your $h!+ together. Hopefully, management at these dealer that helped Homey get a new Volt had a tech hide a tracking device under the dash. QUOTE GM Ramps Up Risky Subprime Auto Loans To Drive Sales President Obama has touted General Motors (GM) as a successful example of his administration's policies. Yet GM's recovery is built, at least in part, on the increasing use of subprime loans. The Obama administration in 2009 bailed out GM to the tune of $50 billion as it went into a managed bankruptcy. Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM's growth . The automaker is relying increasingly on subprime loans, 10-Q financial reports shows. Potential borrowers of car loans are rated on FICO scores that range from 300 to 850. Anything under 660 is generally deemed subprime. Subprime Key Driver GM Financial auto loans to customers with FICO scores below 660 rose from 87% of total loans in Q4 2010 to 93% in Q1 2012. The worse the FICO score, the bigger the increase. From Q4 2010 to Q1 2012, GM Financial loans to customers with the worst FICO scores — below 540 — shot up 79% to more than $2.3 billion. The second worst category, 540-599, rose 28% from about $3.4 billion to $4.3 billion. Prime loans, those above 660, dropped 42% to $676 million. GM Financial provides just over 8% of GM's financing. Prior to 2006, GM's captive lending arm was GMAC, but GM sold a controlling stake in 2006. GMAC later renamed itself Ally Financial and continues to provide the bulk of GM's financing. At the peak of the credit crisis and recession in late 2008, Ally announced that it would move away from subprime lending. By spring 2010 GM's new management, led by North American executive Mark Reuss, wanted to move back into subprime, fearing that GM couldn't compete. Subprime lending in cars is not as risky as in housing. Car loans are cheaper, so customers have an easier time making payments. When they do go into default, the cars can be repossessed and sold to recover some of the loss. "The subprime market grew as a result of the recession," said GM spokesman Jim Cain. "Our experience, however, is that with proper management they are very good risks." He points to GM's credit losses which have not risen above 5.5% since late 2010. Nevertheless, since it acquired GM Financial, GM has seen its subprime loans grow from about 4.8% of sales in Q4 2010 to 8.2% in Q1 2012. The industry average is about 6%. http://news.investors.com/article/620090/2...-fuel-sales.htm |
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8-20-12, 7:53pm | Post
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QUOTE (kas @ 3-2-12, 7:26pm) DiCaprio, Bieber Caught Up In Fisker Karma Hybrid Recall QUOTE Leonardo DiCaprio and Justin Bieber will have to take their megabucks cars back to the shop after luxury hybrid maker Fisker Automotive announced a recall.
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9-8-12, 1:49pm | Post
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To translate the last paragraph, our typical customers have a ghetto attitude and there aren't too many E-85 gas stations in the hood. Given manatory EPA milage is supposedly rising in a few years, these vehicles might go the way of the dinosaurs.
GM Reportedly Abandoning Full-Size Hybrid Trucks and SUVs QUOTE Other sources inside GM have told C/D that the program for the next-gen full-size truck and SUV lineup--including the Tahoe and Yukon SUVs and Silverado and Sierra pickup--is focusing on evolutionary development in chassis refinement, driving dynamics, interior appointments, and comfort, rather than hybridized powertrains.
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9-8-12, 8:10pm | Post
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When it come to Government Motors, Alfie and Billy are rolling in their graves. On the other hand, like Henry Ford's infame word, the consumers could have the Models A and T in any color, as a long it was black, the buffoon assume Americans should be buying electric vehicles.
So kiddies now you know why Ford Motor Co lost it position as the #1 car manufacturer. Of course the UAW and consumers in time ensured Toyota would become and still is #1. QUOTE Obama's One Million Electric Car Goal: Three Percent Complete In 2011, President Barack Obama set a goal of putting one million electric cars on American roads by 2015. Currently, there are just 30,000 electric cars on U.S. roads. The abysmal numbers are even more surprising considering the government's efforts to prop up "green car" manufacturing. Electric luxury car manufacturer Fisker, for example, was approved for a $529 million taxpayer-funded government loan; the federal government cut off the funds at $193 million after sales fell woefully short of required targets. The struggling electric car maker recently recalled 2,400 of its Karma vehicles when one caught fire due to problems with its cooling fan. In June, a CBS News report calculated projected electric car sales by Mr. Obama's 2015 date at 310,663. That figure, while still less than a third of Mr. Obama's goal, may still be overly optimistic. Reuters says industry experts predict that less than 200,000 electric vehicles will be on U.S. roads by 2015. Further exacerbating the challenge of meeting Mr. Obama's goal is the fact that taxpayer-funded electric car battery companies continue to flounder. Last month, for example, struggling U.S. electric battery maker A123 Systems, which received a $249 million taxpayer-funded government loan, announced its plans to sell a controlling stake to Wanxiang, a Chinese company, for $450 million. Similarly, lithium-ion battery manufacturer Ener1, Inc., which received a $118.5 million taxpayer-funded grant, filed for bankruptcy. And Aptera Motors has already folded. In February, Mr. Obama told an audience of United Auto Workers that after he leaves office he plans to buy a Chevy Volt electric vehicle. http://www.breitbart.com/Big-Government/20...al-An-Epic-Fail |
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9-10-12, 10:43am | Post
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Perhaps Rahm could call his old boss and ask to hold some of those Volts for Chicago teachers. Give each union slug a brand new 'lemon' instead of a raise.
Insight: GM's Volt - The ugly math of low sales, high costs QUOTE Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts. Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce. Now in the reality land, Ford is hiring 1200 in Detroit and the local GM plant is expanding, to meet consumers demand for more new trucks . Ford adds 1,200 jobs at Detroit Plant QUOTE Ford is adding 1,200 workers to a suburban Detroit factory to build the Fusion, a sign of confidence that the revamped sedan will be a big seller. Exiled in Kansas, former Wentzville GM workers yearn for home |
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