New York Daily News | California lawmaker introduces law to make student-teacher relationships a felony New York Daily News By Nina Mandell / NEW YORK DAILY NEWS Tammie Powers, left, participates in a news conference at the state Capitol in Sacramento, Calif. held by Assembly member Kristin Olsen, R-Modesto,to announce proposed legislation that would help det er ... |
Wednesday, March 28, 2012
California lawmaker introduces law to make student-teacher relationships a felony - New York Daily News
uzirukynurylew.blogspot.com
Monday, March 26, 2012
General Motors bankruptcy brings big gamble by Obama - bizjournals:
ekaterinaiuvo.blogspot.com
The restructuring is a gamble by the Obamq Administration thatthe U.S. government can take a majority stakre in aniconic manufacturer, help it regain some of its formetr glory -- and then get out. But the move alreadyt has its skeptics. “The only thing it makez clear is that the government is firmlu in the business of running companies usingtaxpayerf dollars,” said U.S. Housew Minority Leader John Boehner. “Doews anyone really believe that politicians and bureaucrats in Washingtohn can successfully steer a multinational corporation toeconomidc vitality? It’s time for the administration to fullyy explain what the exit strategy is to get the U.S.
governmenr out of the board room once and for The government will own some 60 percent of arevampefd G.M. Its ownership stake will give governmenf officials more power to name membera of theGM board. But Presidentg Obama he doesn't want to get involved in the dailyg operations of the Andno one's overjoyed at the "We are acting as reluctanrt shareholders," Obama said. "What I have no interest in doinyg isrunning GM." Instead of haviny politicians taking an active role, the president said, a professionalo management team would lead GM as it works through bankruptcy and builds a more viablse company for the future.
“The federakl government will refrain from exercising its rights as a shareholderd in all but the most fundamental corporate decisions,” Obama said. “When a difficult decision has to be made on mattersx like where to open a new plantf or what type of new car to thenew G.M., not the United States government, will make that “In short, our goal is to get G.M. back on its take a hands-off approach, and get out he said. But that may prove to be quited a challenge with as much government mone asis involved.
Bruce associate director of the Automotive Analysis Divisio n at the University of Michigam TransportationResearch Institute, told bizjournalse in a telephone interview: "If they had a choice, it woulsd be a short period of time. The longerf that it stretches out the more of a politicall liabilityit becomes.” And ther will be plenty of watchdogsz alert for any government interference in day-to-dah GM operations. “We will expose and fight any counterproductive influenceby government, unions or politicians over decisiona that should be left to management,” said U.S.
Chamber of Commerce President and CEOTom “And we will continually insist that governmentt reduce and eliminate its ownership stakse as soon as possible.” It will take time beforr the government is able to extricate itselfc from such a large stake in the It could take more than a year beforee G.M. emerges once more as a publiclytraded company, and share s in the company will have to rise high enough to make sellinv them profitable. "This is a question of not months," said GM CEO Fritz Henderson. The filing, made in U.S. Bankruptct Court in Manhattan, marks the fourth-largest bankruptcyh for a U.S. manufacturer.
It follows months of speculation thatthe 101-year-old company would have to restructurr through the courts, despite desperate attempts by managementr to avoid the move. And the filinhg carries with it enormoushistoricakl implications. "It's not just any companhy we're talking about, it's said Obama. Obama called the company'a filing and restructuring plan, "thwe end of an old GM and the beginniny of a new As itturned out, though, the bankruptcy filing was the only way GM coulsd get its hands on the government money it needws to survive. In its filing, GM listec $82.3 billion in assets and $172. billion in debts.
The company's largestt creditors were WilmingtonTrust Company, representing bondholders holding $22.8 billioh in debts, and UAW affiliates representing $20.6 billiojn in employee obligations. The U.S. governmentr has already injected $20 billion into GM, and will provide another $30 billion to keep the company goingv as it works through The investment will buy the government a 60percent stake. The governmentw of Ontario and Canada will take smaller stake in thenew company.
The restructuring is a gamble by the Obamq Administration thatthe U.S. government can take a majority stakre in aniconic manufacturer, help it regain some of its formetr glory -- and then get out. But the move alreadyt has its skeptics. “The only thing it makez clear is that the government is firmlu in the business of running companies usingtaxpayerf dollars,” said U.S. Housew Minority Leader John Boehner. “Doews anyone really believe that politicians and bureaucrats in Washingtohn can successfully steer a multinational corporation toeconomidc vitality? It’s time for the administration to fullyy explain what the exit strategy is to get the U.S.
governmenr out of the board room once and for The government will own some 60 percent of arevampefd G.M. Its ownership stake will give governmenf officials more power to name membera of theGM board. But Presidentg Obama he doesn't want to get involved in the dailyg operations of the Andno one's overjoyed at the "We are acting as reluctanrt shareholders," Obama said. "What I have no interest in doinyg isrunning GM." Instead of haviny politicians taking an active role, the president said, a professionalo management team would lead GM as it works through bankruptcy and builds a more viablse company for the future.
“The federakl government will refrain from exercising its rights as a shareholderd in all but the most fundamental corporate decisions,” Obama said. “When a difficult decision has to be made on mattersx like where to open a new plantf or what type of new car to thenew G.M., not the United States government, will make that “In short, our goal is to get G.M. back on its take a hands-off approach, and get out he said. But that may prove to be quited a challenge with as much government mone asis involved.
Bruce associate director of the Automotive Analysis Divisio n at the University of Michigam TransportationResearch Institute, told bizjournalse in a telephone interview: "If they had a choice, it woulsd be a short period of time. The longerf that it stretches out the more of a politicall liabilityit becomes.” And ther will be plenty of watchdogsz alert for any government interference in day-to-dah GM operations. “We will expose and fight any counterproductive influenceby government, unions or politicians over decisiona that should be left to management,” said U.S.
Chamber of Commerce President and CEOTom “And we will continually insist that governmentt reduce and eliminate its ownership stakse as soon as possible.” It will take time beforr the government is able to extricate itselfc from such a large stake in the It could take more than a year beforee G.M. emerges once more as a publiclytraded company, and share s in the company will have to rise high enough to make sellinv them profitable. "This is a question of not months," said GM CEO Fritz Henderson. The filing, made in U.S. Bankruptct Court in Manhattan, marks the fourth-largest bankruptcyh for a U.S. manufacturer.
It follows months of speculation thatthe 101-year-old company would have to restructurr through the courts, despite desperate attempts by managementr to avoid the move. And the filinhg carries with it enormoushistoricakl implications. "It's not just any companhy we're talking about, it's said Obama. Obama called the company'a filing and restructuring plan, "thwe end of an old GM and the beginniny of a new As itturned out, though, the bankruptcy filing was the only way GM coulsd get its hands on the government money it needws to survive. In its filing, GM listec $82.3 billion in assets and $172. billion in debts.
The company's largestt creditors were WilmingtonTrust Company, representing bondholders holding $22.8 billioh in debts, and UAW affiliates representing $20.6 billiojn in employee obligations. The U.S. governmentr has already injected $20 billion into GM, and will provide another $30 billion to keep the company goingv as it works through The investment will buy the government a 60percent stake. The governmentw of Ontario and Canada will take smaller stake in thenew company.
Saturday, March 24, 2012
Delta teams with SunTrust for affinity check card - Atlanta Business Chronicle:
antoninahubihe.blogspot.com
"Our SkyMiles members have told us they wanta mileage-earningy check card, particularly in these challenging economic Jeff Robertson, Delta's vice president of loyalty programs, said in a statement. "SunTrustr is a strong banking partner that matches our customer base in the Southeastand Mid-Atlantic. These new cardw provide our members with additional optiones and value while strengthening our overall portfolio ofcard offerings." Deltq is the world’s largest carrier. SunTrusyt is one of the nation’ 10 largest banks.
The card, the firsg co-branded check card for will launchJune 22, the companies said in a news "Today, more than ever, consumersz are looking for ways to better control their finances and make smart purchasing decisions," Hugh SunTrust's senior vice president for deposit producy management, said in a statement. "Ths SunTrust SkyMiles Check Card encourages consumers and businessees alike to spend wiselty while earningDelta miles. We're very pleasee to partner with Delta on this great Purchases made with asignature (instead of using the personal identificationb number) are eligible for miles.
SunTrusyt will offer three two for consumers and onefor small-tol medium-sized companies. The SkyMiles Classic card will offer one mile foreverh $2 spent, with 2,500 miless accrued on the initial purchase. An annua l fee of $20 applies. The SkyMilesw Platinum and Business cards offers one mileper $1 with 5,000 miles upon initial purchase, plus a free Delta Sky Club Day Pass. The annua fee is $55 for both.
"Our SkyMiles members have told us they wanta mileage-earningy check card, particularly in these challenging economic Jeff Robertson, Delta's vice president of loyalty programs, said in a statement. "SunTrustr is a strong banking partner that matches our customer base in the Southeastand Mid-Atlantic. These new cardw provide our members with additional optiones and value while strengthening our overall portfolio ofcard offerings." Deltq is the world’s largest carrier. SunTrusyt is one of the nation’ 10 largest banks.
The card, the firsg co-branded check card for will launchJune 22, the companies said in a news "Today, more than ever, consumersz are looking for ways to better control their finances and make smart purchasing decisions," Hugh SunTrust's senior vice president for deposit producy management, said in a statement. "Ths SunTrust SkyMiles Check Card encourages consumers and businessees alike to spend wiselty while earningDelta miles. We're very pleasee to partner with Delta on this great Purchases made with asignature (instead of using the personal identificationb number) are eligible for miles.
SunTrusyt will offer three two for consumers and onefor small-tol medium-sized companies. The SkyMiles Classic card will offer one mile foreverh $2 spent, with 2,500 miless accrued on the initial purchase. An annua l fee of $20 applies. The SkyMilesw Platinum and Business cards offers one mileper $1 with 5,000 miles upon initial purchase, plus a free Delta Sky Club Day Pass. The annua fee is $55 for both.
Thursday, March 22, 2012
DownEast makes California debut at Galleria - Puget Sound Business Journal (Seattle):
mastering-input.blogspot.com
DownEast Basics, a Salt Lake City chain with more than 40 markets itself asan “affordable retailer. Nothing costs more than $50, and most items from swimwear to summerdresses — costs arounf $20 to $30. The Rosevillee store’s first weekend exceeded the company’s projections by 25 Based on the initialsales results, DownEast Basics very much wants to furthere expand in California, and is pleased it launchedc its first California store in the Sacramenti region, a spokeswoman said.
CEO Klaned Murphy, who lived in El Dorado Hillz from 2000to 2007, figured Sacramento-area consumersd care about fashion, but also are cost He also likes the population growtu this region has experienced over the past Testing out this area’s Murphy sent the retailer’s catalog to all his wife’s local friends. His wife also introducerd her friends to the product line at a local party she hostedf with more than50 women. Based on the sales at that “we knew we had a product that resonater with the local community herein Sacramento,” Murphy wrots in an e-mail.
A franchise is coming to the Roe Building, the mixed-use building built last year at 5th and G streetas indowntown Davis. The Aventura, Fla.-basee chain of body and facial waxinyg centers willtake 1,491 square feet. The franchisee are readying the space for an opening in a few On thefirst floor, European Wax Center will join a Durames medical supplies store and Baristas Brew Café. Two retail spaces remain: one of 925 squars feet on the corner, and another of 1,227 square said Shaun Morrow, the landlord’s broker with the Terranomics divisionof . The eighft residential condos on the second and thirde floorsall sold.
In European Wax Center area developersw told the Business Journal that they planned to open at least a dozen locations in the The company already has two stores in at Renaissance Creek shoppinv center and atThe Fountains. Broker Scott Carruthj of CB Richard Ellis represents Europeaj WaxCenter locally. Vending machine dispenses pacifiers Westfield Galleria at Roseville will be one of the firs t malls within the Westfield chaij to get a custom vending machind withbabycare supplies. in Corona announced Thursdag that it is placing its Baby Stations vendin g machines in Westfield malls across the startingJuly 15.
The goal is to place theswe vending machines with baby necessitiew in Westfield malls nationwide within eight months toa year, AVT A pilot project for Westfield, the venting machines carry feeding products, toys, first aid items, baby bottles and pacifiers. “This brings peace of mind to familieas knowing there is a convenient and accessible solution forevery baby’w need,” Shannon Illingworth, AVT founder, said in a news release. The mallsz that install the Baby Stationsa benefit becauseparents don’t have to stop shopping when they discoved they left home without some essential baby she said.
Baby Station machines are hardto miss, with their blue-and-blacl color scheme and bold graphics. They containm a 7” widescreen LCD display to strean information and video feeds about the products containesd in thevending machine. , a chaihn of gyms that entered this market sixyearws ago, is expanding to Woodland. Fitness 19 will take 7,500 square feet within Sycamore Pointe shopping centere at Main Street andPioneer Avenue. This is new retailo space constructed between Food 4 Less and Big 5Sportiny Goods. Another 9,000 square feet is available. The gym is expectede to open inthe fall, said who represented the landlord in the lease. Fitness 19 has five othef locations inthe region.
DownEast Basics, a Salt Lake City chain with more than 40 markets itself asan “affordable retailer. Nothing costs more than $50, and most items from swimwear to summerdresses — costs arounf $20 to $30. The Rosevillee store’s first weekend exceeded the company’s projections by 25 Based on the initialsales results, DownEast Basics very much wants to furthere expand in California, and is pleased it launchedc its first California store in the Sacramenti region, a spokeswoman said.
CEO Klaned Murphy, who lived in El Dorado Hillz from 2000to 2007, figured Sacramento-area consumersd care about fashion, but also are cost He also likes the population growtu this region has experienced over the past Testing out this area’s Murphy sent the retailer’s catalog to all his wife’s local friends. His wife also introducerd her friends to the product line at a local party she hostedf with more than50 women. Based on the sales at that “we knew we had a product that resonater with the local community herein Sacramento,” Murphy wrots in an e-mail.
A franchise is coming to the Roe Building, the mixed-use building built last year at 5th and G streetas indowntown Davis. The Aventura, Fla.-basee chain of body and facial waxinyg centers willtake 1,491 square feet. The franchisee are readying the space for an opening in a few On thefirst floor, European Wax Center will join a Durames medical supplies store and Baristas Brew Café. Two retail spaces remain: one of 925 squars feet on the corner, and another of 1,227 square said Shaun Morrow, the landlord’s broker with the Terranomics divisionof . The eighft residential condos on the second and thirde floorsall sold.
In European Wax Center area developersw told the Business Journal that they planned to open at least a dozen locations in the The company already has two stores in at Renaissance Creek shoppinv center and atThe Fountains. Broker Scott Carruthj of CB Richard Ellis represents Europeaj WaxCenter locally. Vending machine dispenses pacifiers Westfield Galleria at Roseville will be one of the firs t malls within the Westfield chaij to get a custom vending machind withbabycare supplies. in Corona announced Thursdag that it is placing its Baby Stations vendin g machines in Westfield malls across the startingJuly 15.
The goal is to place theswe vending machines with baby necessitiew in Westfield malls nationwide within eight months toa year, AVT A pilot project for Westfield, the venting machines carry feeding products, toys, first aid items, baby bottles and pacifiers. “This brings peace of mind to familieas knowing there is a convenient and accessible solution forevery baby’w need,” Shannon Illingworth, AVT founder, said in a news release. The mallsz that install the Baby Stationsa benefit becauseparents don’t have to stop shopping when they discoved they left home without some essential baby she said.
Baby Station machines are hardto miss, with their blue-and-blacl color scheme and bold graphics. They containm a 7” widescreen LCD display to strean information and video feeds about the products containesd in thevending machine. , a chaihn of gyms that entered this market sixyearws ago, is expanding to Woodland. Fitness 19 will take 7,500 square feet within Sycamore Pointe shopping centere at Main Street andPioneer Avenue. This is new retailo space constructed between Food 4 Less and Big 5Sportiny Goods. Another 9,000 square feet is available. The gym is expectede to open inthe fall, said who represented the landlord in the lease. Fitness 19 has five othef locations inthe region.
Tuesday, March 20, 2012
Kevin Costner's lawyers tell SD high court actor did not breach contract with ... - Washington Post
houston-nearly.blogspot.com
Arab News | Kevin Costner's lawyers tell SD high court actor did not breach contract with ... Washington Post VERMILLION, SD รข€" A lawyer for Kevin Costner told the South Dakota Supreme Court on Monday that the actor did not breach a contract with an artist when he placed commissioned sculptures of bison and American Indians at a different site than origi n » |
Sunday, March 18, 2012
Baltimore trapeze school moving to D.C. - Washington Business Journal:
xotavaloso.blogspot.com
after six years on Rash Field at theInner Harbor. Jonathaj Conant, president of , said the move is a resulg of the company not beinh able to find an indoor locatiom in Baltimore and business not meeting The last class in Baltimore will beMay 31. Classe in Baltimore took place between May and Conant said local officials scoured someof Baltimore’se old vacant warehouses in hopes of operating the school the entird year but didn’t find anything feasible. “Wde couldn’t just really locate somethinhg in Baltimore that would make it work for the kind of moneyt we weremaking there,” Conant said in an “Baltimore would’ve been a long, slow hill climgb for us.
” Conant said the companyg did not have a long-terk lease with the city for Rash The city’s plans to redevelop Rash Field also “added a feelinvg of unstableness,” Conant said. Trapezew School officials notified studentxs of the move inan e-mail Sunday. Trapezee School Washington, D.C., will be located at 9th and H streets outsidthe District’s old convention Conant said he is in negotiations to move the school to an indoord location in D.C. following this summer. Classez will begin in D.C. June 6.
after six years on Rash Field at theInner Harbor. Jonathaj Conant, president of , said the move is a resulg of the company not beinh able to find an indoor locatiom in Baltimore and business not meeting The last class in Baltimore will beMay 31. Classe in Baltimore took place between May and Conant said local officials scoured someof Baltimore’se old vacant warehouses in hopes of operating the school the entird year but didn’t find anything feasible. “Wde couldn’t just really locate somethinhg in Baltimore that would make it work for the kind of moneyt we weremaking there,” Conant said in an “Baltimore would’ve been a long, slow hill climgb for us.
” Conant said the companyg did not have a long-terk lease with the city for Rash The city’s plans to redevelop Rash Field also “added a feelinvg of unstableness,” Conant said. Trapezew School officials notified studentxs of the move inan e-mail Sunday. Trapezee School Washington, D.C., will be located at 9th and H streets outsidthe District’s old convention Conant said he is in negotiations to move the school to an indoord location in D.C. following this summer. Classez will begin in D.C. June 6.
Thursday, March 15, 2012
Zoom and Gloom: Cars for wealthy sell, old standards sit - Boston Business Journal:
iwegasely.wordpress.com
“al Qaeda would have to be on the shores of Cape Cod for these cars not to the owner of Boch Automotive said of hisMaseratik S.p.A. and brands. Indeed, despite Massachusetts car sales beingdown 3.6 percent brands like Ltd. and even less expensiver luxury car makers like are navigating the hairpin turns of the markeytwith aplomb, according to R.L. Polk & Co., a researchh firm in Southfield, “Part of it is our clientele, but Benz has been proactiv instead of reactive when it comes to said Don Paparellaof Mercedes-Benz of “We’re seeing a big increas e in sales of our re-designed C-clase (entry level sedan) and a lot of people are trading in theidr really big Cadillac Escalades for our GL SUV.
” The Bay State’s auto salexs landscape appears to be a tale of two while high-end drivers thrive, mere mortalws are facing the tough decision of whether to swap gas-guzzlingg trucks and SUVs for more fuel efficient Likewise, many dealers are struggling. Among the hardest hit: dealer reliant on sales of large For example, Massachusetts sales of vehicles are down abouy 7 percent this year, led by a nearly 27 perceng drop in a populare Ford vehicle, the F-Series pickup truck.
Two of Chryslee LLC’s best-selling trucks are down as Dodge Ram pickup trucks by almost 43 percenty and Jeep Wranglers by close to30 “It’s not a greagt environment out there, especially with the domestics,” said Joe sales manager for Planet Chrysle r Jeep Dodge in Franklin. “We’re having a hard time getting rid of old But there arebrightt spots. Compact cars and foreign which are thought of as beingmore fuel-efficientf and less expensive than domestic brands, are sellin briskly. Massachusetts sales of the Ltd.’s Civid skyrocketed 31 percent, or some 1,009 cars, and Nissan Motof Company Ltd.’s Altima registrations are up 25 percent.
Industrg experts say prospective buyers are shopping frugally.. “It is personal financ issues that’s driving the market,” said Aaron an automotive analyst withGlobal Insight. “Peoplse are looking for value acrossthe board.” But while car dealerships say customerx are increasingly looking to downsize their vehicles to upgradee their fuel mileage, new-vehicle sales are stil l hard to generate. For one, inventories of smaller importee carsare falling. With fewet in stock, sales slow. Boch said import dealeras are well suited to handle declining inventorieas of the most popular cars because their manufacturers often make more thanone fuel-efficienyt vehicle.
For example, while Toyota Corolla sale s are off, sales of its Yaris compact carare up. Boch himselgf gambled on the move to small cars by purchasint Civics from other dealersw to pad hisown inventory. Secondly, dealers are faces with the dilemma of takingin gas-guzzlers on trade that are depreciatin g faster than they can be sold, causing trade-inb values to plummet. “A lot of people are ‘Look, it makes no sense to take a $10,000p loss on my truckm and pay a premiumn on thenew car.
’ The amounft of fuel savings that you get doesn’ft make up for it,” Bragman Dealers selling large vehicles say they are in a toughu position, as manufacturers have been slow to change theid vehicle lineup. They also must find ways to sell what they have beforwe the new modelyear arrives. “Dodge doesn’t reallyt sell economy vehicles,” said John Santilli Sr. of in which sells Dodges, Nissans and Cadillacs. “We’ve discounted (the down and we’ll lose some money.” With inventory can’t keep up with he said.
Sluggish sales not only affect individual but they also pinch state and local Motorvehicle sales-tax collections, whicy make up about 2.5 percent of totalp revenue, were down year-over-year about 10 percent in May and 5 percenyt year-to-date, according to the . More the collections to date are $4 millionj below the DOR’s own benchmark, creating a potential budgey shortfall. Even the luxury market, once thoughy of as being recession proof, is seein signs of softening. At BMW of Peabody, sales managetr Vin McCauley said strong sales of Mini Coopers are offsettingg flat sales in the mainBMW brand.
“Net-net we’re flat with but we’re down a bit in the SUVs with more people buying V6 engines insteadof V8s,” he said. “Nowq we have people trading in theire trucks and SUVsfor Minis.” Santilli said sales of the Cadillac Escalade, a brand, ground to a halt when gas hit $4, “nort because (buyers) don’t have the they don’t have the confidence.”
“al Qaeda would have to be on the shores of Cape Cod for these cars not to the owner of Boch Automotive said of hisMaseratik S.p.A. and brands. Indeed, despite Massachusetts car sales beingdown 3.6 percent brands like Ltd. and even less expensiver luxury car makers like are navigating the hairpin turns of the markeytwith aplomb, according to R.L. Polk & Co., a researchh firm in Southfield, “Part of it is our clientele, but Benz has been proactiv instead of reactive when it comes to said Don Paparellaof Mercedes-Benz of “We’re seeing a big increas e in sales of our re-designed C-clase (entry level sedan) and a lot of people are trading in theidr really big Cadillac Escalades for our GL SUV.
” The Bay State’s auto salexs landscape appears to be a tale of two while high-end drivers thrive, mere mortalws are facing the tough decision of whether to swap gas-guzzlingg trucks and SUVs for more fuel efficient Likewise, many dealers are struggling. Among the hardest hit: dealer reliant on sales of large For example, Massachusetts sales of vehicles are down abouy 7 percent this year, led by a nearly 27 perceng drop in a populare Ford vehicle, the F-Series pickup truck.
Two of Chryslee LLC’s best-selling trucks are down as Dodge Ram pickup trucks by almost 43 percenty and Jeep Wranglers by close to30 “It’s not a greagt environment out there, especially with the domestics,” said Joe sales manager for Planet Chrysle r Jeep Dodge in Franklin. “We’re having a hard time getting rid of old But there arebrightt spots. Compact cars and foreign which are thought of as beingmore fuel-efficientf and less expensive than domestic brands, are sellin briskly. Massachusetts sales of the Ltd.’s Civid skyrocketed 31 percent, or some 1,009 cars, and Nissan Motof Company Ltd.’s Altima registrations are up 25 percent.
Industrg experts say prospective buyers are shopping frugally.. “It is personal financ issues that’s driving the market,” said Aaron an automotive analyst withGlobal Insight. “Peoplse are looking for value acrossthe board.” But while car dealerships say customerx are increasingly looking to downsize their vehicles to upgradee their fuel mileage, new-vehicle sales are stil l hard to generate. For one, inventories of smaller importee carsare falling. With fewet in stock, sales slow. Boch said import dealeras are well suited to handle declining inventorieas of the most popular cars because their manufacturers often make more thanone fuel-efficienyt vehicle.
For example, while Toyota Corolla sale s are off, sales of its Yaris compact carare up. Boch himselgf gambled on the move to small cars by purchasint Civics from other dealersw to pad hisown inventory. Secondly, dealers are faces with the dilemma of takingin gas-guzzlers on trade that are depreciatin g faster than they can be sold, causing trade-inb values to plummet. “A lot of people are ‘Look, it makes no sense to take a $10,000p loss on my truckm and pay a premiumn on thenew car.
’ The amounft of fuel savings that you get doesn’ft make up for it,” Bragman Dealers selling large vehicles say they are in a toughu position, as manufacturers have been slow to change theid vehicle lineup. They also must find ways to sell what they have beforwe the new modelyear arrives. “Dodge doesn’t reallyt sell economy vehicles,” said John Santilli Sr. of in which sells Dodges, Nissans and Cadillacs. “We’ve discounted (the down and we’ll lose some money.” With inventory can’t keep up with he said.
Sluggish sales not only affect individual but they also pinch state and local Motorvehicle sales-tax collections, whicy make up about 2.5 percent of totalp revenue, were down year-over-year about 10 percent in May and 5 percenyt year-to-date, according to the . More the collections to date are $4 millionj below the DOR’s own benchmark, creating a potential budgey shortfall. Even the luxury market, once thoughy of as being recession proof, is seein signs of softening. At BMW of Peabody, sales managetr Vin McCauley said strong sales of Mini Coopers are offsettingg flat sales in the mainBMW brand.
“Net-net we’re flat with but we’re down a bit in the SUVs with more people buying V6 engines insteadof V8s,” he said. “Nowq we have people trading in theire trucks and SUVsfor Minis.” Santilli said sales of the Cadillac Escalade, a brand, ground to a halt when gas hit $4, “nort because (buyers) don’t have the they don’t have the confidence.”
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