Word: vices
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...exchange is "offering them things that the general investor does not get." (Firms pay for the server space they use: as little as $50,000 a year, but as much as $500,000 a month to co-locate at the NYSE and other exchanges, says Murray White, senior vice president of global technologies at the exchange...
...recyclers who process the cars aren't so lucky, according to Michael Wilson, executive vice president for the Automotive Recyclers Association (ARA), a trade group that represents 4,500 recyclers across the country. Because of the way dealers must destroy each clunker's engine, fewer parts are salvageable - which means less profit for the recyclers who process the automobiles. Although 60% of a car's salvage value comes from the engine and drive train, Wilson said the original cash-for-clunkers plan - the formal name is the Car Allowance Rebates System (CARS) - called for the obliteration of both. While...
...Department of Transportation launched its official cash-for-clunkers website. The payoff is already filtering through to workers. "Hyundai Motor Manufacturing Alabama is now increasing production by returning to a five-day workweek in July after being on a shortened workweek since mid-October," said Dave Zuchowski, vice president of national sales. (See the 50 worst cars of all time...
...Czubay, Ford vice president for U.S. marketing, sales and service, said Ford already had a relatively strong month in progress before the cash-for-clunkers program started, but it certainly helped. "We achieved a sales increase even though we decreased incentive spending in an increasingly competitive environment," he said. (See the most important cars of all time...
...June - and had a nice 16% improvement in pickup sales - lavished praise on the program and pressed for its continuation. "The government's program is doing what it is designed to do - spur consumers to trade in older gas guzzlers for new, fuel-efficient vehicles," said Mark LaNeve, GM vice president for sales. The Department of Transportation confirmed the fuel-efficiency gains on Monday, Aug. 3, noting that of the 120,000 rebate applications processed so far, the cars purchased have been far more fuel-efficient than the minimum requirements to qualify for the highest rebates. But GM's July...