Cash for Clunkers suspended...

After only a week AP has reported that the Cash for Clunkers program will  be suspended on the midnight of 31st July.  Cash for clunkers was a deal in which vehicle owners with gas guzzling inefficient cars could exchange them for new environment friendly cars and get a $4500 rebate. The program started last Friday and was suppossed to last upto November. However , the cash for clunkers program seems to have become more popular than initially thought of and within one week, the Government fears that its $1 Billion for the program may have been exhausted. Also dealers have become wary of the program due to frequent change in the eligibility of the cars participating in the deal and the 400 page rule book for the dealers.  Redeeming vouchers for the dealers required heavy amount of paperwork , and even after submitting the required papers it is reported that a few deals have not been approved .

Congratulations to all those with new cars and for the rest of us we just wait for the next “Cash for clunkers” in our old cars if it ever comes back again.

Thats the news for now on Cash for Clunkers suspended

Cash for Clunkers stimulus...

Good news for all those running galloon guzzling cars . The Government is handing out vouchers worth $4500 if you exchange your cars for new ones.  The car allowance rebate system or the “Cash for Clunkers stimulus” package is a $1 billion package which will run through Nov 1 2009. All you have to do is take your vehicle which guzzles atleast 1 galoon per 18 miles and get a rebate of $4500 for your new car . Seems to be good to be true but yes it is,. Check cars.gov for more details.  But what about us guys with eco friendly cars ? We save the environment but the guys with poisons get the vouchers.  Hmmm c’est la vie .  Anyway, if you are the lucky owner of an old jalopy go get  your new Ford Fusion or a Honda . Thanks to the Cash for Clunkers stimulus

Hoboken Mayor Arrested...

Hoboken Mayor Peter Cammarano III alongwith 30 others have been arrested by the FBI on charges of an international money laundering racket .  Besides the Mayor of Hoboken , the others arrested include Secaucus Mayor Dennis Elwell and  New Jersey Assemblyman Daniel Van Pelt.  Several religious leaders including Rabbis were also arrested along with the two New Jersey mayors.  U.S. Attorney Ralph Marra spokesman Michael Drewniak said in a statement: “Approximately 30 arrests have occurred this morning in a two-track federal investigation of public corruption and a high- volume, international money-laundering conspiracy.” . The allegations include money laundering, illegal organ transplants and bribes

MSNBC report of Hoboken Mayor Arrested