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RedScare

By RedScare
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RedScare

RedScare

Posted
Posted

Oil just hit $140.

S&P dropped below thw psychological 1300 barrier.

Dow down below 11,550, threatening to drop below 11,500. It is nearly 20% below its high from October 2007, and its lowest since 2002.

GM is down to its lowest level in more than 30 years.

Have a nice financial day. :)

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OkieEric

OkieEric

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Why thanks, Red! About 10 minutes ago my AIG stock just dropped to its lowest in 11 years. It's a party and everyone is invited, apparently.

One of my bigger holdings is down 10%+ today. Not sure about a party, but there will definitely be some drinking tonight!

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RedScare

RedScare

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The Supreme Court gives Exxon a $4.5 Billion gift yesterday, and the stock still drops a buck.

Oh, and GM is now at a 53 year low. So....who's retiring today? :rolleyes:

CNBC is like watching a car wreck. If it weren't for Erin Burnett, I'd change the channel.

erin-burnett-solo.JPG

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crunchtastic

crunchtastic

Posted
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Moat party at crunch's!!

Thanks to the sewer project, I have a porta potty next to my front gate, so that's convenient.

I just became eligible for our ESOP in April, so I'm trying to look at the bright side: I'm buying low, way low. The selling high part is going to have to wait a while, apparently. Possibly a very long while.

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editor

editor

Posted
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Might as well move to India, that's where most are going now.

India's old hat. China is outsourcing to Bangladesh. The Indians are outsourcing manufacturing to East Africa and call centers to Canada and Ohio.

Everything moves east to west. Wait long enough and it will all come back.

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Pumapayam

Pumapayam

Posted
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Ooops! :lol:

Though Markey said the EISA will save consumers billions of dollars in gasoline, he argued that the Transportation Department is reluctant to push fuel standards higher, because it uses outdated assumptions about gas prices that have gasoline in 2030 costing $2.51 per gallon.

What are they doing, we hit that milestone almost 3 years ago. I hope they are joking, they really need to do more work and less talk. Update your standards!

They must be running there PC's on Windows '98 and use analog cellphones too then. :rolleyes:

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RedScare

RedScare

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"We've already lost a million jobs or more because of wrong estimates [about gas prices]," said Markey. "The only way to get new jobs is to get new technology."

"America's strength lies not in its oil reserves but its superior technological might," he added. "We will need to use vehicles that use no oil at all."

So, our strength is our technological might, yet the Big 3 cannot design a vehicle that achieves fuel economy that the Japanese auotmakers already achieve? The reason the Big 3 are nearly bankrupt now is because of our lost lead in science and technology. And Bush and his buddies are helping them dig their grave.

Ironic that the ad at the top of this thread is GM bragging that 8 of its cars get 30 mpg or better. So, which is it? Are you tech marvels or not?

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Pumapayam

Pumapayam

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So, our strength is our technological might, yet the Big 3 cannot design a vehicle that achieves fuel economy that the Japanese auotmakers already achieve? The reason the Big 3 are nearly bankrupt now is because of our lost lead in science and technology. And Bush and his buddies are helping them dig their grave.

Ironic that the ad at the top of this thread is GM bragging that 8 of its cars get 30 mpg or better. So, which is it? Are you tech marvels or not?

GM should have never killed the electric car, and Volt should be out now, not in 2010. It is really sad that American cars can't come out with a decent hybrid.

Saturn's crap is assisted hybrid only, it adds like only 3 or 4 mpg's when compared to the non hybrid.

It's just pathetic. These past 12 months were a great kick in the rear to get them to quit being content with outdated technology and start inovating again. Hopefully some good news and new efficient models around 2009/2010 will save them. Even 30 mpg's is not going to cut it when Japan is hitting 40 mpg's with their non hybrid cars.

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houstonmacbro

houstonmacbro

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GM should have never killed the electric car, and Volt should be out now, not in 2010. It is really sad that American cars can't come out with a decent hybrid.

Saturn's crap is assisted hybrid only, it adds like only 3 or 4 mpg's when compared to the non hybrid.

It's just pathetic. These past 12 months were a great kick in the rear to get them to quit being content with outdated technology and start inovating again. Hopefully some good news and new efficient models around 2009/2010 will save them. Even 30 mpg's is not going to cut it when Japan is hitting 40 mpg's with their non hybrid cars.

I've also noticed that some of Honda's 'hybrids' aren't that much better in the MPG department. What gives. How is Toyota able to crank out such high MPG over the rest of the car makers?

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Subdude

Subdude

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So, our strength is our technological might, yet the Big 3 cannot design a vehicle that achieves fuel economy that the Japanese auotmakers already achieve? The reason the Big 3 are nearly bankrupt now is because of our lost lead in science and technology.

Nonsense. Balderdash!

The "Big 3" can and do design plenty of fuel efficient vehicles. They just don't sell them here, and then they whine that it will take them years to develop cars to meet new mileage standards without handouts in the form of development assistance. The problem isn't lack of technological expertise. These are global firms that operate in scores of countries. When they are convinced Americans seriously demand fuel efficiency they are quite capable of delivering.

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houstonmacbro

houstonmacbro

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Well, let's not completely blame the auto makers. Consumers for years (decades) demanded bigger, more powerful cars and trucks. Now the tide has turned and we want smaller, more fuel efficient and greener cars and trucks.

It's a shared responsibility and blame.

The ONLY reason we really want better cars now is that fuel costs are high.

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jm1fd

jm1fd

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I've also noticed that some of Honda's 'hybrids' aren't that much better in the MPG department. What gives. How is Toyota able to crank out such high MPG over the rest of the car makers?

You can't just look at MPG. Because then we would easily declare Honda's Insight the winner.

When you say Toyota, you actually mean Prius because Toyota's other hybrids don't really get spectacular mileage when compared to their non hybrid brethren. Honda's hybrids are based on existing cars, and therefore suffer from all the weight and aerodynamic problems of the non-hybrid model.

The Prius would still get really good mileage if you yanked all the hybrid gear out of it....in fact, I suspect highway mileage would be unchaged...the city mileage figures would decrease some, but probably only into the mid 30s.

If the automakers really wanted to put out cars that got great gas mileage they'd make them all look like horrible little cheese wedges with teeny tiny tires. Of course, nobody wants a car that looks like a cheese wedge.

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BryanS

BryanS

Posted
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No need to build "better" cars vs. just building smaller cars. You can get phenomenal gas mileage with a tiny, 3-cylinder engine. If you think you can still drive a truck or SUV with a "better, improved" V-6 or V-8... not gonna happen. They are already as about as fuel efficient as they can get. You need fewer cylinders, less displacement - which means less gas used.

http://www.cnn.com/2008/LIVING/wayoflife/0...etro/index.html

The 1996 Metro's average of 40 miles per gallon nears that of the hybrid 2008 Toyota Prius -- priced at $21,000 for the cheapest model -- and bests most current cars by a long shot, according to government ratings. Older models of the Geo Metro, specifically cars from 1991 and the XFi edition, have the same average as the hybrid.

The 1996 2-door 3-cylinder Metro Solomon now owns opened on eBay May 7 with a bid of $200. A week later, Solomon won the car auction with a bid of $7,300. In 1995, a new Metro hatchback sold for about $9,000, according to Auto Mall USA.

A 12-year old Geo Metro can achieve the same average MPG as a hybrid, and costs thousands of dollars less.

Only this car is a true step in the right direction:

aptera1.jpg

http://www.aptera.com/details.php

http://www.edmunds.com/insideline/do/News/articleId=108992

330 MPG, for around 20K. Now we're talking.

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RedScare

RedScare

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When they are convinced Americans seriously demand fuel efficiency they are quite capable of delivering.

Perhaps Detroit suffers from a rather severe case of 'thick skull syndrome'? Some advance reports on vehicle sales for June suggest that the GM and Ford numbers may be nothing short of cataclysmic. They are saying GM may enter bankruptcy before they get their electric car out.

I am not a big fan of bailing out greedy corporate execs, but in this case, I think saving a few million manufacturing jobs warrants it. Rather than give prizes for batteries, Congress should look into encouraging the production of highly fuel efficient vehicles....more than the limited time stuff they do now. They could pay for it by dumping the tax break for buying Hummers and Suburbans.

BTW, this guy Markey is a moron on the scale of 'Heckuva job, Brownie'. This is what happens when political cronies win jobs over qualified individuals.

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jfre81

jfre81

Posted
Posted
$5.00 dollar gas here we come

014-1-1.jpg

(Congress) could pay for it by dumping the tax break for buying Hummers and Suburbans.

Oh, Congress. Always behind the times. It's too late for a quick fix, and it's astounding how many people think they're going to have $2/gallon regular by Christmas if we *started drilling now!*

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RedScare

RedScare

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014-1-1.jpg

It's too late for a quick fix, and it's astounding how many people think they're going to have $2/gallon regular by Christmas if we *started drilling now!*

Other than 90% of Republicans, I don't think many people think that. Most people (90% of Democrats) think that if we tax the oil companies, THEN we'll have $2 gas by Christmas.

Love the pic, BTW.

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