“I know, we’ll dig our way out!”

When exactly did the current economic “situation” stop being a crisis and develop into a full-blown parody? ... all be happy as clams… except this ignores the underlying problems facing the auto industry. Car ... , they are money pits. The average loan in the United States is for 98% of the car’s total value (couldn’ [more...]

Date: 2009-03-10 16:57:52

Blog posts (480) | Videos (230)
 

Get ready to buy everyone’s home improvements

People opposed to the mortgage bailout have erupted in anger over the thought of having to subsidize their neighbors’ house payments when they’ve ... for their home-equity seconds as well.Paragraph vi of the bill states:While eligibly loan modifications ... indebtedness of the borrower and improve loan performance. Servicers will be eligible to receive [more...]

Date: 2009-03-05 14:40:53

A FAREWELL TO ALMS

Is a $50 billion government bailout of the auto industry's Big Three the answer to its problems? ... to extend them debtor-in-possession financing while they're in Chapter 11. Also, they have a valid concern that customers might not want to buy a car from bankrupt companies. But even if some federal [more...]

Date: 2008-11-18 14:03:57

Cram Down the Investors of Chrysler LLC and Tesla Motors

And we have more expert coverage of the grand special-interest giveaway that is the automaker-bailout legislation currently being negotiated between ... tailored for a venture-funded electric-car startup named Tesla Motors, in Menlo Park, California ... beyond the beginning of 2009. (I won’t call this a loan, because that would imply an expectation [more...]

Date: 2008-12-10 18:44:10

Kiss the Banks Goodbye and Refocus on Rebuilding the American People

By Dave Lindorff The futility and stupidity of the Fed’s and the Obama administration’s policy of pumping ever more money into failing banks ... , Ford, GM and Toyota, reporting sales down by about 40%. This fall off in car buying was despite ... they are worried about having a job to enable them to pay back the loan. It’s the same reason [more...]

Date: 2009-03-04 21:46:19

Tech Stocks Rally As Fed Rolls Out Heavy Artillery

Tech stocks - and indeed the entire U.S. stock market - is jumping this afternoon on the news that the Federal Reserve has decided to bring out its ... on the federal funds rate of zero to 0.25 percent, which would suggest there isn’t any more cutting ... have diminished appreciably. Last night, with my car beeping at me that I was running out of gas, I [more...]

Date: 2008-12-16 12:02:00

BMW eyes German bailout fund

With all the recent news about BMW’s financial problems, slower sales, concepts cancellations and workforce layoffs, ... Eichiner said used car values in Europe “significantly worsened in the third quarter – mainly in the UK but also in Germany”. BMW’s finance arm also suffers from higher refinancing costs in the wake [more...]

Date: 2008-11-09 03:17:11

REPORT: Toyota Financial seeking loans from Japanese gov't

Filed under: Government/Legal , Toyota , Earnings/Financials LR: Toyota Vice Chairman Katsuaki Watanabe, ... for International Cooperation. Much of these funds would presumably be used to lend money to new car buyers ... what the automaker had previously been accustomed to. That and the aforementioned loan request are actions [more...]

Date: 2009-03-03 16:40:00

In the Beginning

We’re here today to bring you the annual Uni Watch changing of the god guard ... and through which bank they got a car loan. PH: Frikkin’ sweet. Should I be careful of making fun of people ... : Bryan, thanks for all your work. How’s this thing work? BR: When relevant content is short [more...]

Date: 2008-11-15 12:00:55

A Note On Auto Loan Interest Deduction

Before anyone pats too many members of Congress on the back for considering a move to make car loan interest deductible .. ... : * Personal interest on car loans, credit card balances, student loans, Internal Revenue Service interest ... individuals - and a reduction in an outlandish corporate tax rate of 50%. See this old NY Times item [more...]

Date: 2009-02-05 02:32:04

Buying a house at Christmastime is so fun

Update! On the real house! Which was originally supposed to close today (yeah, a few days before Xmas--great plan), but isn't, obviously.So lessee ... on a VA loan (at a lower rate, since rates have dropped**) from the Navy credit union--Mr. B.'s doing ... costs have risen since we originally had a loan approved on the dead cat house (for $100k more than [more...]

Date: 2008-12-22 20:49:00

Top 10 Money Mistakes: Protecting From Really Bad Stuff. And Lawyers.

  Continuing in our Top 10 Money Mistakes series, in this post we are discussing two holes many people have in their “risk management” (insurance) portfolio:  liability insurance, and earthquake/flood/hurricane insurance.  Fun, fun, I know, but in both cases you must be aware of the ramifications of the insurance choices you are making right now, [more...]

Date: 2009-03-07 15:26:58

Gates of Vienna News Feed 11/14/2008

The news stories to pay attention to tonight concern immigration. In Italy, a “Record Number of Would-Be Immigrants Arrive”. But the President of Italy says, “Immigrants are a resource — no more prejudice!” And in the UK, a report in the House of Lords: “Economic Benefits of Mass Immigration Are Close to Zero”.We report, you decide.Thanks to C [more...]

Date: 2008-11-15 04:48:00

Screenplay Junkie #6: The 2008 Black List

Adam Volk is a wannabe screenwriter trying desperately to break into the industry and cram his hack drivel down Hollywood’s gaping maw. Each week he examines one aspect from the wonderfully demented world of screenwriting. Two years ago — or so the story goes — a young executive at Leonardo DiCaprio’s production company Appian Way, [more...]

Date: 2008-12-12 14:03:07

If Your Tenant Can’t Pay the Rent, What Then?

Last week, I wrote about a call we get all too often from tenants – telling us they can’t pay the rent, and asking for some sort of break ... be different, but you should know how the rental market looks. If you have a hot market, with prospects ... do for a residential tenant. Do I trust this tenant in general? I’ve written before about how [more...]

Date: 2009-01-29 19:26:51

Meet a self-described “bank terrorist”

Revolting (h/t: Moonbattery): Bruce Marks, founder of the leftist Neighborhood Assistance Corp ... “easy lending.” Listen to NACA’s pitch: “Come to NACA, and regardless of how bad your credit ... , while increasing the number of mortgages it restructures by lowering interest rates and extending loan [more...]

Date: 2008-11-20 23:53:27

Michael Moore on "Countdown" tonight

He's going to talk about his crazy/not really that crazy plan for the government to buy the Big 3 automakers instead of bailing them out. Won't work with Ford, necessarily, but at this point GM and Chrysler might be desperate enough to say yes. See below for MM's letter, sent out today. It's a pretty good read ( [more...]

Date: 2008-12-03 14:14:43

When It Gets Right Down To It — I Choose Campers

Debating about it is not an issue. No, I’m not talking about recreational vehicles that you tow, drive, or carry on the back of your pickup ... of mind” to follow us home. 10.Learn about ourselves. 1. Granted. If your boat sinks in the middle ... up to a point. They know that the item will be taken care of and they will get it back. Loan my tools [more...]

Date: 2009-03-09 04:16:07

Money 101 for screenwriters

Most of the questions I answer on this site are from readers who hope to become professional screenwriters. A small percentage of these readers will succeed, and suddenly face a new category of questions about What Happens Next. Having watched former assistants and other young writers cross the line into professional work, [more...]

Date: 2008-12-18 19:02:50

How much more can Detroit take?

From the diaries by Erick. And that headline, dear friends, comes directly from yesterdays New York Times. DETROIT — Motown left years ago. The city’s former mayor is behind bars. Unemployment hovers around 14 percent. An emergency loan ... from Republican senators. Oh, and its professional football team is 0-13 for the season. How much [more...]

Date: 2008-12-13 22:04:59

Back to Basics: Reduce your debt

Being in debt simply means that at one point you borrowed money to fund some purchase, and are now paying it back over time. ( ... , a student loan, a mortgage, a car loan, a title loan, a pawn ticket, or a credit card balance ... one’s means, is usually a bad use of debt. Buying a car with a loan, though sometimes unavoidable [more...]

Date: 2008-11-16 07:24:43

Chewing Over a Big Three Chapter 11 Filing

By many accounts, the CEOs of the Big Three automakers fared rather poorly the week before last when they testified in front of Congress ... up with the right business strategy going forward, they just might keep alive their hopes of getting ... that it would be, partly because of the unique nature of the auto biz. The relationship between the [more...]

Date: 2008-12-01 12:27:00

Chewing Over a Big Three Chapter 11 Filing

By many accounts, the CEOs of the Big Three automakers fared rather poorly the week before last when they testified in front of Congress ... up with the right business strategy going forward, they just might keep alive their hopes of getting ... that it would be, partly because of the unique nature of the auto biz. The relationship between the [more...]

Date: 2008-12-01 12:27:00

Q&A: What Happens If My Automaker Goes Bankrupt?

OrphanCar.jpg Should you buy a car from an automaker facing bankruptcy? What if you're looking at a car loaded with technology features? ... be a problem for at least a decade and probably the life of the car. Some dealers will remain open ... still like their minivans and pickups. But there's not a whole lot more. Q: If a buy a car [more...]

Date: 2009-02-24 15:50:28

Latest Pajamas Media Column (’That Giant SUCKUP Sound in Washington’) Is Up

It’s here. Subheadline: The Seemingly Unlimited Cash Kitty Under Paulson (SUCKUP) is essentially deposing free-market capitalism ... then) under the title “That Giant SUCKUP Sound.” Linkback: The post refers to a mid-October exchange ... : Roger Simon at PJM has a hard time with the Big 3 auto execs, whose companies’ already-approved loan [more...]

Date: 2008-11-20 13:59:55

My simpler auto maker bailout plan

The federal government should just purchase $25 billion worth of vehicles from the auto companies, ... loan stuff sounds pretty fishy to me anyhow. I don’t even know what it means. Most likely it means “you will never see this money again, taxpayers, making it a “bridge loan to nowhere.” Might as well [more...]

Date: 2008-11-20 19:34:58

'It's sort of a Hail Mary pass'

From Inman News:In Sacramento, Calif., the price per square foot fell 31.9 percent from September 2007 to September 2007, according to Radar Logic ... of announcements around foreclosure moratoriums and loan modification programs," said Foreclosure Radar's Sean O'Toole. He also cited Senate Bill 1137, which makes lenders try harder to talk [more...]

Date: 2008-12-02 21:34:00

01/28/2009, 8:51 AM

Chrysler NewsChrysler considering other partners should feds veto Fiat deal Though things seem to be progressing positively on the proposed ... comprehensive. A clause in Chrysler’s $4 billion government loan agreement says that the automaker must receive Treasury approval. Some Washington critics have said that the loan was only intended [more...]

Date: 2009-01-28 13:51:21

Productivity Predicts Happy Days Ain’t Here Again

If you look at long term unemployment, the recession of the mid 1970's had an interesting feature: some jobs never came back ... that there was too much leverage in bad debt, however the stomach for a remedy wasn't there under Bush ... in bad assets, many of which are toxic—that is, the best that can happen is that they expire [more...]

Date: 2009-03-08 19:30:25

Neil Cavuto Thinks the Hullabaloo About the Economic Crisis is Just, Well, Silly

Neil Cavuto, Fox's "business news" guy, has a simple plan as to how to deal with the economic crisis. In a nutshell? Do nothing ... in to his audience. Yes, he has guests on who are for, and against, bailout-this or bridge loan-that, but he talks ... about the bailout zombies. Banks! Brokerage houses! And today, auto companies! Oh sure. These guys might [more...]

Date: 2008-11-19 01:45:05

Daily Links: Homemade Cars and Urban Farming

Last week I appeared on a local television news magazine to discuss approaches to a frugal Christmas ... , Ben at Trees Full of Money sent me the story of his neighbor, a man who built his own 105mpg car ... , fun to drive. To read more about it, check out the official website. If you’re after [more...]

Date: 2008-11-24 01:36:23

The FAFSA and Credit Card Debt

Let me first start off by saying that even if your credit is has been severely affected by credit card debt, or any other kind of debt….you can still file a FAFSA and receive a Stafford loan . Your FAFSA results are not affected ... me to have to enroll my already low interest rate student loans into this debt management account. i need [more...]

Date: 2009-03-09 16:59:57

Will Fiat help Chrysler go green?

By Joseph Romm Some commenters suggested my earlier post, "Chrysler to electrify entire product line," should have been filed under "humor." How was the company going to survive the current collapse of the auto industry, let alone find ... on Tuesday to take a 35 percent stake in the struggling American auto company Chrysler, which was forced [more...]

Date: 2009-01-22 20:14:53

Obama's Big Chance

Albeit reluctantly, the Senate gave the go-ahead to release the additional $350 billion in TARP funding contemplated by the original plan ... to breathe life back into this economy.” To his credit, President-elect Obama acknowledged ... for banks to lend money? A really, really bad idea. While some of the badness that happened over [more...]

Date: 2009-01-16 04:29:19

GM renews commitment to American people

No one in the U.S. can reasonably be unaware of the current condition of the U.S. car market or its primary domestic companies. The carmakers' current pleas to the U.S. Congress for federal loan packages to help prevent bankruptcy - or worse - are the focal point of even mainstream news coverage of late. Perhaps that's why [more...]

Date: 2008-12-08 23:19:22

GM On Death Bed?

Auditors: ‘Substantial Doubt’ GM Can Survive General Motors Corp.’s auditors have raised “substantial doubt” about the troubled automaker’s ability to continue operations, and the company said it may have to seek bankruptcy protection if it can’t execute a huge restructuring plan [more...]

Date: 2009-03-05 17:21:34

Should creation of money stay in private hands?

Professor and economist Richard Werner proposes a solution for the current banking crisis, under which "... national debt and interest liabilities will not increase, but credit creation will." He begins ... that there is no such thing as a 'bank loan.' Banks do not lend money. 'Lending' refers to transferring control [more...]

Date: 2009-03-09 08:46:46

'Help Is On The Way,' as Obama Announces Economic Recovery Board

At his third press conference in as many days, President-elect Barack Obama introduced his "Economic Recovery Advisory Board," with former Federal Reserve chief Paul Volcker as chairman and University of Chicago economist Austan Goolsbee as staff director, assuring the American people that despite "an economic crisis of historic proportions," " [more...]

Date: 2008-11-26 18:58:49

RA's Daily Russia News Blast - Oct 28, 2008

TODAY: French police conclude Moskalenko poisoning was ‘an accident’; Russia criticizes US over Syrian attack, offers Cuba support; ... , internet firewalls. French investigators have reportedly concluded that mercury found in the car ... farm near the Iraqi border. Will the IMF’s newly agreed loan to Ukraine protect the latter from ‘ [more...]

Date: 2008-10-28 06:13:53

Housing bailout pays for second mortgages,liens and investments

Nation: Remember Obama's talk that people who flipped or made bad decisions wouldn't be bailed out? He lied ... . It has to do with second liens, that is piggy back loans or home equity lines of credit. Deep deep in the pages of the plan, is paragraph vi. Second Liens: While eligibly loan modifications will not require [more...]

Date: 2009-03-07 14:59:00

Bailout Stalls; Chrysler Faces Uncertain Future With or Without Funds

Senaterepublicans Senate Republicans effectively drew a line in the sand this afternoon against passing a bailout bill for domestic auto ... from a federally backed bridge loan. This could be a huge blow for Chrysler and the bailout as a whole ... didn’t. The bill could also allow funds previously sought by Chrysler to be distributed to auto parts [more...]

Date: 2008-12-11 22:40:29

Inflationary Record Book

by The Mogambo Guru From Bloomberg.com we get the headline "Treasuries' Scarcity Triggers Repo Market Failures", by Liz Capo McCormick, ... . The exchange is reversed the next day, with the customer receiving interest on the overnight loan. A Treasury ... it at interest rates lower than the general collateral rate", which is, in this case, so I gather [more...]

Date: 2008-11-05 22:18:48

Hyundai Bails Out Consumers By Buying Back Their Cars

Vehicles have been in the news quite a bit these days, from bailout plans to million-dollar hybrids. Clearly, car companies are desperate ... on their car loan or lease can walk away from a financing obligation when the difference between the resale value of the car and the balance of their loan is less than $7,500. I’m sensing a new trend. Buy [more...]

Date: 2009-01-06 15:59:53

Awesome! We're Getting A "Car Czar"!

—DrewM. It looks like the Big Rapidly Shrinking 3 automakers are going to get their bailout or at least a $15 billion bridge to the really big ... auto rescue and work with the Big Three to restructure their beleaguered companies. ...Under the plan ... W. Bush would set the terms for an auto industry restructuring, but someone picked by President-elect [more...]

Date: 2008-12-08 19:41:01

Early Addition

Photograph by Idle Type on Flickr From the Gothamist Newsmap : A car stuck on a rock at 23rd St and Ave C in Manhattan, ... (who are also brothers) of their judgeships for allegedly "filing financial statements and loan ... Online has an insane video of OctoMom facing off with her mom , aka (disapproving) OctoGrandMom [more...]

Date: 2009-02-24 16:51:18

Could Americans’ Discontent Turn Violent?

We are only a few thousand points and runaway inflation away from a potential societal explosion. March 9, 2009 - by Bob KrummPage 1 of 2  Next ->At what point does discontent turn to violence?Economically, we may or may not be close to hitting rock bottom, but policy-wise, this market still has a long way to fall [more...]

Date: 2009-03-09 07:02:14

China, Japan and South Korea are Advanced Battery and Electric Car Leaders

China's BYD E6, a pure electric vehicle GM announced on Jan. 12, 2009 that it would buy lithium ion cells from LG Chem of Seoul, South Korea ... , had recently applied for a $1.84 billion loan from the Energy Department to open a large battery assembly ... -in electric models at the North American International Auto Show, such as its E6 DM (six-cylinder, [more...]

Date: 2009-01-18 23:09:29

Autos, Bridges, Piers and Perot

There’s talk tonight that the auto deal or bailout or bridge loan has fallen apart. Nuts ... to save thousands of jobs. I really got excited when I saw Ross Perot’s name being floated as CAR CZAR ... of him but fast, those private-jet-flying, out-of-touch, overpaid CEO’s….they hated him. Mr. Perot [more...]

Date: 2008-12-12 04:20:07

400+ HP super sedans on sale in March for $35,000

Filed under: Car Buying , Sedans/Saloons , Dodge , Pontiac Click above for a high-res gallery of the Pontiac G8 GXP ( ... on a performance car. We've seen some pretty amazing deals, like $18,995 for a brand new Mustang GT ... the automaker's financial service for your loan, so not all dealers may be offering these prices, but we're [more...]

Date: 2009-03-05 21:59:00

DrumBeat: February 6, 2009

U.S. pump prices on the rise as refiners cut back At least seven U.S. refiners have announced fuel production cuts as a result of weak profits stemming from softening demand, including Valero Energy Corp and ConocoPhillips -- the nation's two biggest fuel producers. As of the end of January, refiners were running their plants at just 82 [more...]

Date: 2009-02-06 14:01:48

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