OK, so I don’t know where all these rants are coming from today, but:
That auto industry bailout last year that was a disaster… well, it’s not so much of a disaster after all.
Despite a recent series of wide-ranging automotive recalls from some of the world’s largest automakers, including Toyota Motor Corp. and General Motors Co., car sales in the United States remained significantly above the previous year’s level in April, continuing a growth trend motivated by buying incentives in March. In addition, a surge in auto fleet sales is expected to further improve the automotive industry’s upswing.
Last week, automotive research firm J.D. Power and Associates forecast that new vehicle retail sales in the U.S. will reach 804,200 units in April, representing a seasonally adjusted annualized rate (SAAR) of 9.8 million units. This would be a 22 percent increase over April 2009 and a gain of 1.8 million units in the year-over-year selling rate, indicating a significant improvement in consumer demand for new vehicles.
And that bank bailout that was such a disaster… it’s making profits.
Yeah, they were messy and were probably not the greatest ways to go about it, but they are working, despite all the hand-wringing and dire warnings about how they were socialistic government takeovers. Bah! When the boat is sinking (in this case, read: economy), you don’t complain about the color of the bucket, you start bailing.