ES -- DX/CL -- isee -- cboe put/call -- specialist/public short ratio -- trinq -- trin -- aaii bull ratio -- abx -- cmbx -- cdx -- vxo p&f -- SPX volatility curve -- VIX:VXO skew -- commodity screen -- cot -- conference board

Friday, December 19, 2008

 

cars get money


the shoe-dodger-in-chief tells hank paulson to kick the automakers $14bn out of the TARP to hold them over into the obama administration. they will not file bankruptcy, and that's just as well given the ramifications. they've been given to march 31 either to come up with a viable restructuring plan, to organize a chapter 11 financing, or procure a much better bailout from the new administration and congress following january 20.

bush explicitly included bondholders to share in the pain via a debt-to-equity conversion. good luck with that one.

the only lamentable point is that i didn't get to say, "this is a goodbye kiss, you dog!" to ford in this post. i've owned three, and the first two had the transmission fail before 75,000 miles. third one (not my decision!) is in the garage at 73,000 and behaving oddly lately. gulp.

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Ford's suck gm. The U.S. car folks won't like this, but I haven't bought or regularly drove an American car since 1990. Guess what gm, car's have never been a headache in my life.

 
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I don't know if it counts, but I'm still driving a 96 Mazda B2300 (basically a Ford Ranger with a different grill and color scheme) after 156,000 miles with no problems. I love that truck, and looking at replacing it with a newer used Ranger. Ford does trucks really well. Cars? I've had good and bad.

But I would never buy a GM or Chrysler vehicle of any type.

 
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Bank of America and Mr. Higgins missing $millions, It can happen to you, my fellow Americans


More info: http://www.maxhiggins.com/blog

 
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