Immanuel
Gold Member
- May 15, 2007
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Latest in Stimulus: 'Cash for Refrigerators' - Yahoo! News
From what I have read about the Cash for Clunkers program, a great number of auto dealers have not been paid for the Cash for Clunker sales they made recently and I question if they ever will be paid.
So, I have a question, if Cash for Refrigerators is up next will department stores be scrambling to make these sales wondering if they will be paid in the next six months or so, if ever?
Cash for Clunkers has run out of money already and auto dealers have not been paid. Will they get paid or will the government renig on the promise and if so, who ends up on the losing end... the dealers or the consumer? Will these cars be repo'd for non payment if the government doesn't come through?
Immie
A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it's probably not enough to lift companies such as Whirlpool (NYSE:WHR - News) and Electrolux out of the worst down cycle in the sector's history.
Beginning late this fall, the program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. The money is part of the broader economic stimulus bill passed earlier this year. Program details will vary by state, and the Energy Dept. has set a deadline of Oct. 15 for states to file formal applications. The Energy Dept. expects the bulk of the $300 million to be awarded by the end of November. (Unlike the clunkers auto program, consumers won't have to trade in their old appliances.)
From what I have read about the Cash for Clunkers program, a great number of auto dealers have not been paid for the Cash for Clunker sales they made recently and I question if they ever will be paid.
So, I have a question, if Cash for Refrigerators is up next will department stores be scrambling to make these sales wondering if they will be paid in the next six months or so, if ever?
Cash for Clunkers has run out of money already and auto dealers have not been paid. Will they get paid or will the government renig on the promise and if so, who ends up on the losing end... the dealers or the consumer? Will these cars be repo'd for non payment if the government doesn't come through?
Immie