AP source: Administration tripling work force to handle Cash for Clunkers claimsWASHINGTON — The Obama administration is tripling the number of workers processing Cash for Clunkers transactions as some dealers complain the government has been slow to reimburse them for the car incentives of up to $4,500 per vehicle. US government’s ‘Cash for Clunkers’ program expensive way to reduce CO2WASHINGTON - New estimates by researchers at University of California (UC) Davis have indicated that the US government’s ‘Cash for Clunkers’ program is paying at least 10 times the “sticker price” to reduce emissions of the greenhouse gas carbon dioxide (CO2). IHS analyst says auto industry recovery won’t be a quick 1While it appears that the U.S. auto industry may have hit bottom, it won’t recover from its woes quickly, an analyst for IHS Global Insight said Thursday. Production increases at carmakers nationwideFord Motor Co. said Thursday it is raising production of its Focus small car and Escape crossover to meet higher demand. Here is how some other automakers are cautiously increasing production. No cash or clunkers for Mom and Pop used-car dealers as castoffs go to scrap yardsRICHMOND, Va. — One man’s clunker is another man’s meal ticket. Retail sales bleak for July, reinforcing fears consumers won’t spend the economy to recoveryWASHINGTON — A bleak report on retail sales Thursday reinforced a nagging worry of economists: Shoppers won’t spend enough to help a recovery take hold. Gov’t says car shoppers can qualify for Cash for Clunkers for vehicles not yet on dealer lotsWASHINGTON — Car shoppers running into shortages of certain vehicles at dealerships will still be able to use the Cash for Clunkers program to reserve the car of their choice, the Obama administration said Thursday. Summary Box: Retail sales drop unexpectedly as consumers keep wallets closedWHAT HAPPENED?: Retail sales fell unexpectedly in July, while first-time claims for jobless benefits rose slightly last week. The reports raised concerns about the ability of consumers to fuel a broad economic recovery. Consumer groups call on DOT to protect car buyers from questionable Cash for Clunkers dealsNEW YORK — Consumer advocacy groups are calling on the Department of Transportation to crack down on dealerships offering questionable sales terms to customers participating in the government’s Cash for Clunkers program. Ford to build more Focuses and Escapes in 3Q to meet demand from Cash for ClunkersDEARBORN, Mich. — Ford Motor Co. said Thursday it will build more of its popular Focus and Escape vehicles this quarter to meet growing demand from the federal government’s Cash for Clunkers program. Unexpected drop in July retail sales, rise in new jobless claims point to strained recoveryWASHINGTON — Retail sales disappointed in July and the number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week. The latest government reports reinforced concerns about how quickly consumers will be able to contribute to a broad economic recovery. Ford to build more Focuses and Escapes in 3Q to meet heavy demand from Cash for ClunkersDEARBORN, Mich. — Ford Motor Co. says it will build another 10,000 vehicles this quarter to meet the growing demand from the federal government’s Cash for Clunkers program. Stocks turn lower in early trading after weak retail sales, jobs reportsNEW YORK — Stocks turned lower in early trading Thursday as disappointing reports on jobs and retail sales deflated some of investors’ optimism about the economy. Unexpected rise in new jobless claims, drop in July retail sales point to strained recoveryWASHINGTON — Retail sales disappointed in July and the number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week. The latest government reports reinforced concerns about how quickly consumers will be able to contribute to a broad economic recovery. Stock futures giving up gains after retail sales, weekly unemployment reportsNEW YORK — Stock futures gave up some of their gains Thursday after reports on retail sales and jobless claims fell short of expectations. Retail sales post unexpected 0.1 percent decline in July, raising new worries about consumersWASHINGTON — Retail sales outside of autos turned in a disappointing performance in July, underscoring concerns about the timing and durability of a recovery from the worst recession since World War II. Stock futures rise sharply ahead of unemployment, retail sales reportsNEW YORK — Stock futures are sharply higher Thursday, a day after investors welcomed upbeat comments from the Federal Reserve. Retail sales likely rose again in July, boosted by the Cash for Clunkers car programWASHINGTON — Retail sales likely rose again in July, boosted by the government’s popular Cash for Clunkers program. Cash for Clunkers also helps consumers buy SUVs, trucks and crossovers tooWASHINGTON — Transportation Secretary Ray LaHood, the nation’s top car salesman in recent weeks, has cited the Obama administration’s best-seller list of mostly smaller, fuel-saving cars like the Ford Focus to describe the success of the Cash for Clunkers rebate program. SPIN METER: Cash for Clunkers also helps consumers buy SUVs, trucks and crossovers tooWASHINGTON — Transportation Secretary Ray LaHood, the nation’s top car salesman in recent weeks, has cited the Obama administration’s best-seller list of mostly smaller, fuel-saving cars like the Ford Focus to describe the success of the Cash for Clunkers rebate program. Cash for Clunkers’ success prompts automakers to take baby steps toward boosting productionNEW YORK — After a lot of heartbreak, the nation’s automakers aren’t looking to commit. University study credits ‘cash for clunkers’ for rise in gas mileage of new cars sold in JulyWASHINGTON — Cars and light trucks sold in July got more miles per gallon than those sold in previous months, say researchers, who credit the Cash for Clunkers program. In Europe, ‘cash for clunkers’ driving sales _ but what happens when the money runs out?BERLIN —For months, European car buyers have been junking clunkers for cash, boosting automakers sales — but making experts fear that once the government handouts stop, the struggling car industry will return to a slump no pile of cash can conquer. Better-than-expected jobs report pushes stocks higher, feeds hopes for economic recoveryNEW YORK — The economy’s most vexing problem, unemployment, is showing the first signs of easing. And Wall Street is celebrating. Legislation extending ‘cash for clunkers’ car rebate program headed for presidential signatureWASHINGTON — Pedal to the metal, Congress sent President Barack Obama legislation Thursday night with an additional $2 billion for “cash for clunkers,” the economy-boosting rebate program that caught the fancy of car buyers and instantly increased sales for an auto industry long mired in recession. Meltdown 101: Enticed by ‘cash for clunkers’? Do your homework before jumping in to a new carIs the government’s cash-for-clunkers rebate and the thought of that new car smell about to pull you off the couch and into the nearest showroom? Senate will approve ‘cash-for-clunkers’ extension, Democratic and GOP leaders sayWASHINGTON — The Senate has cleared the way for a vote extending the “cash-for-clunkers” program, which offers car buyers rebates of up to $4,500 for trading in their gas-guzzlers for new, higher-mileage models, setting aside Republican opposition to the plan. Climate experts: ‘Cash for clunkers’ won’t do much to reduce greenhouse gas pollutionWASHINGTON — “Cash for clunkers” could have the same effect on global warming pollution as shutting down the entire country — every automobile, every factory, every power plant — for an hour per year. That could rise to three hours if the program is extended by Congress and remains as popular as it is now. Senate will approve cash-for-clunkers extension, Democratic leader says; GOP won’t block voteWASHINGTON — The Senate will vote to extend the popular “cash-for-clunkers” program before going home on Friday, Majority Leader Harry Reid declared Tuesday in a strong signal the government won’t let the trade-in rebates die under the surging demand that has almost exhausted federal backing. Stocks post modest rise as traders take a break from heavy buying; Dow rises 34 pointsNEW YORK — Having sprinted higher for three weeks, the stock market is taking a break. |
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