Hitchhikers

I picked up Jody Beauregard hitchhiking yesterday. Jody is a sweet, gentle man who has worked on Tom Ripley’s truck for the last decade or so. He takes off every fall to hunt and usually can put up enough meat to last him through the year. I had never seen him hitchhiking before.

“Where’s your Bronco?” I asked him. He usually cruised the roads in about a 1970 Ford with a cracked rear window and rust holes patched with political bumper stickers.

Jody took a while to think about the question.

“Engine calved,” he said.

“What do you plan to do?” I asked.

“Tom had promised to sell me his red Roadmaster for $1,500,” Jody said, “but he traded it in on that Clunker deal and got $4,500 for it. It was a pretty good car but I couldn’t pay that much.”

The CARS program took nearly 700,000 “clunkers” off the roads replaced, as the official press release told us, by far more fuel efficient vehicles. The program processed $2.877 billion in rebate applications and put more than half the cash into foreign brands. It has taken a lot of excellent cars off the road, including a 1985 Maserati Biturbo in Plattsburgh and Tom Riley’s very nice 16 year-old Buick, including all of the clunker stock the poor will drive tomorrow but none of the real clunkers the poor drive today. Good planning on the part of the peeps who would run U.S. health care, U.S. stockbrokers, and the U.S. auto industry.

Tom Ripley is my garbage man. Here in North Puffin, garbage collection is private enterprise; we all contract with one of the haulers who has a route in our area. I like Tom. He’s friendly, always on time, and comes right up on the porch to pick up the trash cans. He even (usually) latches the storm door when he puts the cans back. He owns a couple of used garbage trucks that he bought at the state auction and usually has a couple-three pickups that he runs around his route every Sunday before church. He had originally planned to trade in his ’73 Chevy pickup under the CARS program but it was too old. It is a terrific truck but it gets 10 mpg winter and summer. 10 mpg empty and 10 mpg pulling a camper. A little rusty and a lot beaten but still on the road after 36 years. But it was too old to qualify for the clunkers program.

Cars traded must have been manufactured less within the last 25 years, have a fuel economy of 18 miles per gallon or less, and be insured and registered and drivable.

“The 350 in that Roadmaster purred,” Jody told me. “Tom put tires on it just the year before last. Paint was great — actually the whole body was pretty darned good. And the A/C worked. I’ve never had a car with A/C that worked. No rust, runs good, like the song says.”

“I’ve ridden in it,” I said. “Pretty good car.”

Jody looked out the side window for a half a mile. Not many leaves are turning yet and no deer in the fields; he was thinking about the car.

“Yeah. It’s not fair, you know. I need a car now and there just nobody’s got anything to sell. People are even snapping up old beaters like my old Bronco ’cause they can’t find anything else to drive.”

“That Buick would have lasted you 10 more years.”

“Yeah,” he sighed. “Got better gas mileage than anything I’ve ever owned, too.”

Guzzling? No. Gobbling.

Congress poked its head up out of the gopher hole with a $4,500 incentive to trade in your gas guzzlers for new, fuel-efficient rides. The House passed the bill yesterday on a 298-119 vote.

President Barack Obama has supported the plan as a way to help struggling automakers and improve the fuel efficiency of the cars and trucks on the road.

Huh. That incentive might have helped struggling automakers even more six or 12 months ago.

Now that the Administration has run two of three American car makers out of business, it is too bad the only place left to trade is either Government Motors or Overseas, Inc.

Imagine that.

Remember you and you and you voted for these turkeys. A few of us voted against ’em but that makes me no less doomed.

Fire Sale

NEW YORK — CNNMoney reports that General Motors Corp. will sell its Saturn unit to Penske Automotive Group, owned by racing and business legend Roger Penske. The deal gives Penske the rights to the brand, but GM will continue production of the Saturn Aura, Vue and Outlook.

If anyone can make it work, Mr. Penske can.

I hope he still has his unfair advantage.

Too bad Pontiac isn’t part of the deal. The excitement of the Pontiac line comes from Australia’s Holden right now: the G8, the GTO, and the El Camino-style Holden Ute which the motoring press called the G8TR (“Gator”) but Pontiac expected to sell as the G8 ST. Since Mr. Penske will “import” his Saturns from the GM plants, he could do the same with the best of the Pontiac line and sell them all under the “no haggle” Saturn roof.

Wow.

Shares of Penske (PAG) rose 3% in morning trading.

Meanwhile, GM announced on Tuesday it would sell its Hummer line to China’s Sichuan Tengzhong Heavy Industrial Machinery Company Ltd. thus moving the U.S. Army’s primary ground vehicle production into the hands of a foreign nation.

2008 Bail Out

We’ve heard of the Year of the Rat. The ancient Chinese welcomed the Rat as their protector and source of material prosperity. 2008 was the Year of the Thieving Rats.

I don’t usually like to see a year end. I love sunsets because the sky colors light up my life at the end of the day but the end of 2008 just means I’m another year older and deeper in debt.


I started out the year with a Schwab One account and now have a Schwab .015 account.

Speaking of our financial institutions, we also started 2008 with a credit fiasco when some mope lifted Herself’s wallet in Philly; the credit card processing center kept sending substitute cards they wouldn’t let us activate.

“What are the last 4 digits on your card, Mr. Harper?”

5884.

“This looks like a replacement for a card that was lost. That’s your old card number.”

No, my old card ended in 3399.

“That’s not right. I show the old card as 5884 and the new card as 6091. Let me put you on hold.”
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“Thank you for holding. We value this opportunity to service your call. Please continue to hold for the next available advisor.”
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“The current hold time is approximately 8 minutes.”

At least they had a nice symphony playing as their hold music.

I found out later that, while I was on hold, the banks scored $700 Billion on my other credit card.

Start a spreadsheet. Right now. Immediately. List every credit or debit card you have. All of them. Include the card number, the institution name, the institution phone number, the full name in which it is issued. Include its expiration date. Make a column with every autopay you pay with each card. In a spreadsheet.

Did I mention to do it in a spreadsheet? Spreadsheets are cool.


Brett Favre, who is Herself’s favorite quarterback of all time, lost his last ever Championship hope with an illegal forward pass yesterday. On the other hand, the rest of the Jets did complete more lateral passes in a single play than anyone had seen in a professional football game this year. If they hadn’t been using their hands, we would have thought it was professional soccer.

I bought my first hard disk-based “Personal Video Recorder” this year so I could pause the news and Herself could pause fuhball.

Built in China, of course, so I did my best for the economy.

This may be the second most irritating product on the market. The operating system was designed to operate bulldozers instead of showstoppers and the remote control pretty much doesn’t. Despite that, I wanted to buy two of them and the seller shipped two of them but only one arrived. Somebody stole the second “in transit.” And now this brand is off the market. Maybe if I had ordered three or four…


Our neighbors decided a couple of years ago that my project to rebuild the North Puffin garage “disappointed” them so they sued us. In the process of beating on us with their lawyers they magically grew their postage stamp sized camp lot by a few feet to the South and a few more to the North.

We lost a few feet of land on our southern boundary and our other neighbors lost a couple of feet of land on their northern boundary but at least we have finished that episode and are done with them.


I bought General Motors stock earlier this year. Automakers and auto dealers immediately tanked. GM suspended its dividend; later Congress decided to suspend GM. I didn’t understand it then but I understand it now; I spent 100 hours and $200 selling a $1,700 used car for $1,400 this Fall.

Regular readers will recall that I had had a yen for a special plate and expected, when I bought this particular KeysCar, that I would get one. After all, DICK was available in Vermont.

Unfortunately, Vermont said I’m not a Dick.

I listed the car on the free craigslist classified advertising site. Three legitimate buyers called. I sold it to one of them for a stack of $100 bills. 15 Nigerians or Nigerian-trained operatives offered cashier’s checks. Every last one of those bounced.

Gasoline flirted with $5/gallon about 20 nanoseconds after I decided to start driving everywhere again. I have some small hope that the oil speculators who caused that spike (and have now taken it in the ear when oil dropped back to traditional levels) were the same financial wizards who robbed us in the mortgage markets.

Or maybe not. There was very little justice in 2008.


Denny Crane sure was something, though. All he asked for was my interest every week but he earned my respect and he got my vote.

The stories we Pollyannas tell ourselves are more optimistic than these. 2009 is going to better, right?

Good Money After Bad, Redux

The news reported that the automaker CEOs will return to testify again this week

The President-elect will “pay close attention” to what the CEOs say. Barney Rubble plans to beat them up again no matter what the Congressman said on 60 Minutes. The Toyota Republicans say we ought not let Congress mess with a free market economy.

There is a timeworn and well known joke:

An older and particularly odious man approached a beautiful woman. “Would you sleep with me for 700 billion dollars?” he asked.

“Oh, I have to think about that. Yes!” she said.

“Would you sleep with me for one dollar?” he asked.

“Never! What do you think I am?”

“Madam, we have already established that. Now we are simply negotiating the price.”

We ought not let Congress mess with a free market economy??? Sorry, folks, that horse has long since left the barn.