Posted on Tuesday, December 07, 2010 - 10:12 pm:

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The big American banks get all of the scrutiny for taking bailout funds during the great recession of 2008. It wasn’t just the big banks and U.S. automakers that went begging to the government for loans during the financial crisis. There were many foreign banks and American firms outside of the banking sector that needed Uncle Sam’s money to stay afloat. So, what firms would have gone under without government funds?


According to an article in The Washington Post, Caterpillar (CAT), Barclays (BCS), Verizon (VZ), Toyota (TM), Harley Davidson (HOG) and UBS (UBS) all needed bailout money to stay afloat. Add them to the list with General Electric (GE) and every other company that was in danger of going under in 2008 and 2009. Companies were so desperate for access to government funds that I expected to read that Best Buy (BBY) was converting to a bank holding company.

These companies get deals that you and I would never qualify for. They borrow money at interest rates that are so low that they basically pay nothing in interest. Once things are normal, they go back to doing business as usual. How did these companies qualify for a bailout? What systemic risk did Toyota or Harley Davidson impose to the U.S. economy? Too many companies are engaging in the practice of privatizing their gains and publicizing their losses.

Source: http://seekingalpha.com/article/239913-bailout-fun ds-not-just-for-u-s-banks-automakers?source=yahoo

Why is it when firms like these get trillions of dollars in assistance from the government and those loans are never referred to as corporate welfare?

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Posted on Wednesday, December 08, 2010 - 07:05 pm:

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Southern Copper Corp., a Phoenix- based mining company that boasts some of the industry’s largest copper reserves, plans to invest $800 million this year in projects such as a new smelter and a more efficient natural-gas furnace.

Such spending sounds like just what the Federal Reserve had in mind in 2008 when it cut interest rates to near zero and started buying $1.7 trillion in securities to spur job growth. Yet Southern Copper, which raised $1.5 billion in an April debt offering, will use that money at its mines in Mexico and Peru, not the U.S., said Juan Rebolledo, spokesman for parent Grupo Mexico SAB de CV of Mexico City.

Southern Copper’s plans illustrate why the Fed’s second round of bond buying may not reduce unemployment, which has stalled near a 26-year high. Chairman Ben S. Bernanke and his colleagues appear to be fueling a foreign-investment surge, underscoring the difficulty of stimulating the economy through monetary policy with interest rates already near record lows.

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Posted on Monday, December 13, 2010 - 09:30 am:

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What pick-up trucks qualify for passenger class plates?

A pick up truck that is not changed and has an open bed can qualify for passenger class plates if the truck:

is used only for non-commercial purposes, and
has an unladen weight of 5,500 lbs. or less (the unladen weight of your pick-up truck is listed on the title certificate and on the door sticker), and
does not have any business advertisements on the truck.
How to apply

You are not required to apply for passenger class plates for your pick-up truck. You can continue to use commercial plates on your pick-up truck.

The unladen weight of your pick-up truck is stamped on a metal plate and located on the door of your vehicle. The unladen weight is also listed on your title certificate. The unladen weight is different from the maximum gross weight (MGW) listed on your registration documents. Before you apply, make sure that the unladen weight of the truck is 5,500 lbs. or less.

Passenger class plates on a pick-up truck do not change the MGW listed on the registration documents or the unladen weight listed on the title certificate. Passenger class plates on a pick-up truck do not change the registration fees. The DMV requests the unladen weight to verify that your pick-up truck is eligible for passenger class plates. The DMV does not change the unladen weight or the MGW.

You must apply in person at a DMV office. You cannot apply by mail, by phone, over the Internet, or by e-mail. Complete form MV-82 (Vehicle Registration / Title Application). Make sure to complete section 6, question 4. You must bring your title certificate and proofs of identity and date of birth, and surrender your commercial plates. Remove frames and fasteners before you surrender a vehicle plate or vehicle plates. The DMV office will not accept a vehicle plate with a frame or any fasteners attached. The fee is $16.00.

The registrant of a pick-up truck that is leased or rented must submit a form provided by the leasing company or owner of the pick-up truck. The form must certify that the vehicle will not be used for commercial purposes.

The DMV office will issue new registration documents and standard passenger plates with anew number. If you had custom plates or personalized plates, your new registration documents will list the numbers from your custom plates or personalized plates and the standard series plates. The DMV will send new passenger custom or personalized plates by mail.

If your registration will expire in less than 60 days, you can renew your registration at a DMV office and change to passenger class plates when you renew.

You can also get passenger plates with no additional fee when you register a pick-up truck for the first time.

Pick-up trucks that weigh more than 5,500 pounds:

If you have a pick-up truck that has an unladen weight of 5,501 lbs. or more, you cannot apply for passenger class plates through the process described above. You must modify the truck to qualify for a passenger class registration and passenger class plates. Learn more about vehicle modifications for registration class changes.

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