Archive for November, 2008
Did Warren Buffet actually buy CarMax stock?
The story as reported by many news outlets isn’t accurate that Buffet purchased CarMax stock. This is because Buffet was not directly involved in purchase. The stock was bought by GEICO, the auto insurer and a subsidiary of Buffett’s company, Berkshire Hathway.
A close reading of the 13-F SEC filing by Buffett’s company, Berkshire Hathaway (Charts, [...]
Auto industry executives ride corporate jets to ask for bailout
if you are headed to Washington, D.C., to ask the government to bail out your ailing industry with taxpayers’ money, you might want to consider not flying in on your corporate jets.
That ABC report says the jet ride cost one of the CEOs, GM’s Rick Wagoner, an estimated $20,000 roundtrip.
The way I see it, the [...]
An Auto Bailout Would Be Terrible for Free Trade
Does anyone really expect other countries to ignore our subsidies?
Congress is now considering a federal bailout for America’s Big Three automobile companies. Many want to grant them at least $25 billion from the $700 billion Troubled Asset Relief Program on top of $25 billion in low-interest loans approved earlier this year.
But these figures represent only [...]
New car versus Used car
There are still the uber wealthy that will still be paying out for brand new cars and some bargains can be had here while suppliers are desperate to pull in new custom. However, one thing that should be considered when buying a new car is that the moment you drive that car off the forecourt, [...]
Democrats urge Paulson to weigh aid for automakers
The top congressional Democrats urged Treasury Secretary Henry Paulson on Saturday to consider providing aid to troubled U.S. automakers as part of the Bush administration’s corporate bailout efforts.
The letter from House of Representatives Speaker Nancy Pelosi and Senate Majority Leader Harry Reid recommended strong conditions,” possibly equity stakes and limits on executive compensation, in return [...]