The "Auto Industry Financing and Restructuring Act"
It's a 37-page PDF document.
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Hawaii
17 years ago
Showing posts with label automobile. Show all posts
Showing posts with label automobile. Show all posts
Wednesday, December 10, 2008
Bailout News Updates
Panel Overseeing Bailout Criticizes Treasury Department - From Washington Post
"We've been lied to. We've been bamboozled. What we have here is one big mess," said Rep. Davis Scott (D-Ga.), who like several others on the House Financial Services Committee focused on the fact that the hundreds of billions of dollars used to shore up the capital position of banks is not being felt in the form of easier credit for homeowners and businesses.
Democrats and White House Close In on Auto Deal - From NYT
The rescue plan would extend $15 billion in emergency loans to General Motors and Chrysler, the two most imperiled automakers, and would subject them to far-reaching government oversight at the direction of a so-called car czar to be named by Mr. Bush.
Ford is not seeking short-term loans because it is not as bad off as the other two big automakers.
UAW seeking GM board seat -union official - From Reuters
The United Auto Workers union is seeking a stake in General Motors Corp and a board seat as it offers concessions intended to allow the automaker to slash costs and clinch federal aid, a union official said.
$73 an Hour: Adding It Up - From NYT
“We’ve heard this garbage about 73 bucks an hour,” Senator Bob Casey, a Pennsylvania Democrat, said last week. “It’s a total lie. I think some people have perpetrated that deliberately, in a calculated way, to mislead the American people about what we’re doing here.”
So what is the reality behind the number? Detroit’s defenders are right that the number is basically wrong. Big Three workers aren’t making anything close to $73 an hour (which would translate to about $150,000 a year).
"We've been lied to. We've been bamboozled. What we have here is one big mess," said Rep. Davis Scott (D-Ga.), who like several others on the House Financial Services Committee focused on the fact that the hundreds of billions of dollars used to shore up the capital position of banks is not being felt in the form of easier credit for homeowners and businesses.
Democrats and White House Close In on Auto Deal - From NYT
The rescue plan would extend $15 billion in emergency loans to General Motors and Chrysler, the two most imperiled automakers, and would subject them to far-reaching government oversight at the direction of a so-called car czar to be named by Mr. Bush.
Ford is not seeking short-term loans because it is not as bad off as the other two big automakers.
UAW seeking GM board seat -union official - From Reuters
The United Auto Workers union is seeking a stake in General Motors Corp and a board seat as it offers concessions intended to allow the automaker to slash costs and clinch federal aid, a union official said.
$73 an Hour: Adding It Up - From NYT
“We’ve heard this garbage about 73 bucks an hour,” Senator Bob Casey, a Pennsylvania Democrat, said last week. “It’s a total lie. I think some people have perpetrated that deliberately, in a calculated way, to mislead the American people about what we’re doing here.”
So what is the reality behind the number? Detroit’s defenders are right that the number is basically wrong. Big Three workers aren’t making anything close to $73 an hour (which would translate to about $150,000 a year).
Thursday, November 6, 2008
Insurance Fraud Awareness Week
Governor Mark Sanford has proclaimed November 10-14 as Insurance Fraud Awareness Week in South Carolina. Insurance fraud is a felony in South Carolina and can result in jail time. According to the National Insurance Crime Bureau studies indicate 10 percent or more of property/casualty insurance claims are fraudulent.
While there are organized fraud rings throughout South Carolina, other people you wouldn't suspect, such as a next-door neighbor, co-worker or close acquaintance, are also the causes of insurance fraud and increased insurance premiums.
"We need the general public to fight fraud in our state and not tolerate it," said Brandolyn Pinkston, Administrator of the South Carolina Department of Consumer Affairs. "The message is a simple yet powerful one: We all pay for insurance fraud - it's time to fight back."
Officials encourage consumers to use the South Carolina Insurance Fraud Hotline to report cases to the Attorney General's Insurance Fraud Division. The South Carolina Insurance Fraud Hotline (1-888-95-FRAUD) is available toll-free, 24 hours a day, seven days a week.
What is Insurance Fraud?
While there are organized fraud rings throughout South Carolina, other people you wouldn't suspect, such as a next-door neighbor, co-worker or close acquaintance, are also the causes of insurance fraud and increased insurance premiums.
"We need the general public to fight fraud in our state and not tolerate it," said Brandolyn Pinkston, Administrator of the South Carolina Department of Consumer Affairs. "The message is a simple yet powerful one: We all pay for insurance fraud - it's time to fight back."
Officials encourage consumers to use the South Carolina Insurance Fraud Hotline to report cases to the Attorney General's Insurance Fraud Division. The South Carolina Insurance Fraud Hotline (1-888-95-FRAUD) is available toll-free, 24 hours a day, seven days a week.
What is Insurance Fraud?
- Misrepresentation of the number of miles on an auto insurance application.
- Failure to report an accurate medical history when applying for health insurance.
- Fake or exaggerated injury claims to avoid work and draw workers’ compensation pay outs.
- Falsification or overstatement of injuries in an auto accident to obtain a large settlement or damages award.
- Staged auto accidents that result in claims for non-existent or exaggerated injuries.
- Fabrication of relationships to obtain life insurance benefits.
- Exaggeration of the amount and value of items stolen from a home, business or automobile.
Wednesday, November 5, 2008
S.C. Auto Insurance Rates
The average auto insurance expenditure in South Carolina remains below the national average according to a recent study released by the National Association of Insurance Commissioners. South Carolina drivers on average spend $756.11 per year on auto insurance which is $61 less than the national average of $817.11 according to the latest study from 2006 just released. The average expenditure estimates what consumers in South Carolina spent, on average, for auto insurance in 2006.
The South Carolina General Assembly passed legislation requiring an increase in the minimum amounts of liability insurance coverage which took effect January 1, 2007. Act 395 requires drivers to carry liability coverage in amounts of no less than $25,000 of bodily injury per person, $50,000 of bodily injury per accident and $25,000 of property damage coverage (usually written as 25/50/25).
Neighboring States
Georgia $788.08
Florida $1,069.38
North Carolina $596.39
Virginia $684.52
The South Carolina General Assembly passed legislation requiring an increase in the minimum amounts of liability insurance coverage which took effect January 1, 2007. Act 395 requires drivers to carry liability coverage in amounts of no less than $25,000 of bodily injury per person, $50,000 of bodily injury per accident and $25,000 of property damage coverage (usually written as 25/50/25).
Neighboring States
Georgia $788.08
Florida $1,069.38
North Carolina $596.39
Virginia $684.52
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