Posted on 07/31/2009 6:34:27 PM PDT by newbie2008
“There is absolute frustration across the board,” Alex Kurkin, a lawyer based in Miami who represents several car dealerships, tells The Lede today. “As of this morning, they’re not really confident about any deals, and no one can give them advice about what they should be telling their customers.”
Mr. Kurkin tells us that the government Web site where dealers are supposed to register their deals has been crashing, and the dealers haven’t been able to plug in their information.
Barry Magnus, the general manager of DCH Paramus Honda, told us he was owed more than $80,000, and he wondered if would ever see it.
“Oh my God, what a mess today,”said Sally
Maggio said she generally makes her profit by reselling the engines, the most valuable parts of the cars she takes, but that’s not possible because (engines) have been rendered unusable
That cuts down the salvage value of the cars — and the incentive for salvage yards and wreckers to take them — to almost nothing
And the process reduces the supply of used engines for people who can’t afford to buy new car and come to the salvage yard looking to fix up old ones.
“If a dealer doesn’t have a separate document addressing this possibility, the dealer will likely have to eat it,” Mr. Kurkin said. “I certainly see lot of litigation over this.”
Michael Gerrard, director of Columbia Law School’s Center for Climate Change Law, said in a statement that the cash-for-clunker program is not a cost-effective way to reduce fuel use or greenhouse gas emissions. Any energy savings, he said, could take several years to realize, considering the time it takes the fuel savings from a new car to exceed the energy cost used make it.
(Excerpt) Read more at thelede.blogs.nytimes.com ...
the perils of using a calculator without enough decimal spaces. didn’t add back as many as subtracted. I caught it as I was posting it lol. One of those red faced moments
same can be said for 34
Check this out.
http://www.freerepublic.com/focus/f-news/2306632/posts
Maybe not just rumor.
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