Ford and Toyota sell .... Chrysler and GM?

Turns out that Government Motors General Motors, is still struggling .... while Ford, which did not get any bailout money, is doing fine, says the WSJ:

Ford Motor Co. posted a 33% rise in December U.S. light-vehicle sales, ending a stellar year for the auto maker compared with its rivals. Ford recorded its first full-year market-share gain since 1995.
Meanwhile, Chrysler Group LLC posted a 3.7% decline compared with a year earlier and said its full-year sales were the worst the auto maker had seen in 47 years.
The largest U.S. auto maker—General Motors Co.—posted a 5.7% decline, but said its process to sell down Pontiac and Saturn inventory was ahead of schedule and reported a 2.2% increase for the four brands GM will keep after its streamlining.
Toyota Motor Corp. of Japan said its U.S. sales rose 32% to 187,860 vehicles last month.
The results underscore how the auto makers have responded to the recession that began officially in December 2007 and led to the bankruptcy filings of Chrysler and GM.

More cash for clunkers?

After spending the cash for clunkers

Interesting to see the contrasting headlines, which are all based on the same set of auto sales data that came out today:

We can interpret the numbers any which way we want--which is why we warn students on any "data" they are looking at.

Hurry up: FREE golf carts

No, it is not from the Onion.
An excerpt from the WSJ: (ht)

"The Golf Cart Man" in the Villages of Lady Lake, Florida is running a banner online ad that declares: "GET A FREE GOLF CART. Or make $2,000 doing absolutely nothing!"

Golf Cart Man is referring to his offer in which you can buy the cart for $8,000, get a $5,300 tax credit off your 2009 income tax, lease it back for $100 a month for 27 months, at which point Golf Cart Man will buy back the cart for $2,000. "This means you own a free Golf Cart or made $2,000 cash doing absolutely nothing!!!" You can't blame a guy for exploiting loopholes that Congress offers.

The IRS has also ruled that there's no limit to how many electric cars an individual can buy, so some enterprising profiteers are stocking up on multiple carts while the federal credit lasts, in order to resell them at a profit later. We should note that some states, such as Oklahoma, have caught on to the giveaway and are debating whether to cancel or limit their state credits. But in Congress they're still on the driving range.

... If this keeps up, it'll soon make more sense to retire and play golf than work for living.

Yes, true even if sounds way too bizarre to be true!

Chart of the day: GM's vehicle production

Deficit? What, me worry?

Cash for clunkers:bribing the middle class

Matt Welch:

Cash-for-clunkers is indeed very "popular." So is the home mortgage interest deduction, the prescription drug benefit, and any number of federal programs that siphon from the diffuse pool of tax revenue+debt and blast out concentrated benefits to the broad middle class. The standard for judging these things shouldn't be popularity–Richard Nixon's wage-and-price control spasm of 1971, to name one of many historical measures now widely and rightly considered asinine, was hugely popular at the time–but whether they make sense in both the short and long term.

Cash-for-clunkers amounts to a rounding error in Tim Geithner's nose-hair at this point, which is probably why at least some liberals seem so genuinely baffled by the disproportionate criticism it has drawn. But for some of us it's also a nearly perfect symbol of economic statism run amok. The federal government is taking from the many, giving it to the less-than-many, destroying functional cars, funneling money to an auto industry that it already largely owns (at a hefty taxpayer price tag), then taking multiple (and multiply premature) bows for rescuing the economy and the auto industry in the process.

Tim Geithner's nose-hair? Very funny.

On a totally different note, a year ago I read Matt Welch's piece on his experience at the 1984 Olympics, and how his own jingoistic theatrics changed his view forever. I emailed him in appreciation, also because it reminded me of how it similarly dawned on me in my teenage years that the anti-Pakistan tone in cricket matches were simply nauseating .... Here is an excerpt from what Welch had written:

Then Shane Mack struck out looking on a curve ball.

It was as if the Goodyear blimp had deflated in one second on the centerfield grass. People were either stunned into silence, or (as in our case) muttering bitter obscenities at the world in general. Then came a horrifying sound from somewhere behind my left shoulder. It was a grown man, a grown American man, and his two kids, clapping, and saying, in perfect English, "Hoo-ray Japan!"

My eyes nearly burned clean out of my skull. The Hulk, John McCain...they had nothing on the white-hot American rage I felt at that moment. I wheeled around, fangs bared, glared at this pleasant-looking man, and yelled: "SHUT UP, YOU...COMMIE!!!!"

The genie was seconds out of the bottle when I began to feel regret. A crowd of furious Americans, who had been taking our cues for several innings now, immediately erupted into a "YEAH!!!", then began to chant: "COM-MIE!! COM-MIE!! COM-MIE!!" Dodger Dog wrappers went zipping by my ear in the general direction of the offender. Confronted with a potentially violent mob of Angeleno nationalists, the alarmed fan fled the facility, ushering his two young kids to safety.

My friend was psyched. I, in the words of Bob Dylan, "became withdrawn." Harnessing (or having the illusion of harnessing) a crowd of thousands turned out to be much more frightening than fun. Going plum loco over an exhibition baseball game felt, well, loco. And taking the side of a snarling overdog against a hapless and vastly outnumbered minority suddenly felt like the opposite of how I ever again wanted to approach either social dynamics or political thought.

The ride home with my friend's dad was totally silent, as if we were keeping our lips sealed about some terrible crime. In the following days, I noticed everything began to look different. The crowd-whipping antics of Wally George were no longer funny. Republican politics in general, particularly the flag-waving, lefty-baiting strain, became revolting overnight. So did knee-jerk, anti-Ronnie Ray-gun rhetoric. Religious settings of all varieties—Southern California was then going through a big fundamentalist revival—became intolerable exercises in peer-and-God pressure. People who I had internally dismissed as outcasts at school I now externally sought after as friends. People whose approval I once craved were suddenly ridiculous to me. I started gravitating toward any book that challenged the accepted wisdom of a topic I thought I knew, starting with baseball. And any time I found myself in an overwhelming majority, my first question became, "What if we're wrong?"

None of this made me a better person, obviously, and undergoing a change of heart at age 16 is about as rare and interesting as the sun rising in the east, but I feel better having confessed.

Oh, BTW, Welch did reply to my email, with a note "Makes it all worthwhile ... almost!"
Indeed!