Call it what you will- cash for clunkers or rubles for rubbish, Russia is getting in on the rolling wreck game. The first 200,000 lucky customers who can produce any car at least 10 old will receive a voucher for 50,000 rubles to upgrade.
"One of the biggest problems of the Russian car industry is the average time they've been on the road," said Alexei Rakhmanov, the head of the ministry's auto department. "About 50 percent of all the cars are more than 10 years old. The pilot program will not only allow us to support the carmakers but also help renew Russia's fleet."
And so another global power starts to come to grip with the fact that organic economic growth takes longer than a 2-minute commercial break to achieve by turning themselves into one of the world's largest pawn shops
Posted by guest , Aug 12, 2009 1:15PM
Holy shit - this is borderline relevant!
Posted by guest , Aug 12, 2009 1:37PM
Yo Ding Dongs! What about Pequot and Samberg getting Wells Notices from the SEC....I guess you don't see the relevant data there????? Sheesh!
BESS!!!!!
Posted by guest , Aug 12, 2009 1:43PM
@2 how many wells notices? 46...? besides, ex-post facto, the sec is not going to bite:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apmmZ.2ThySc
"Amaranth to Pay $7.5 Million to Settle U.S. Charges (Update2)
By Tina Seeley
Aug. 12 (Bloomberg) -- Amaranth Advisors LLC, a hedge fund that collapsed in 2006, will pay $7.5 million to settle allegations from U.S. regulators that it tried to manipulate natural-gas futures. "
Posted by guest , Aug 12, 2009 1:50PM
How many Wells notices did the AIG trading on 8/5, 8/6 produce?
Posted by guest , Aug 12, 2009 1:51PM
@3 At least it is slightly relevant and interesting!!!! Compare that topic to the tripe we've been fed the past week. BESS!!!!!
Posted by guest , Aug 12, 2009 1:56PM
hey - it's a good photo~
Posted by guest , Aug 12, 2009 1:57PM
I can't make it to the morning - this is killing me...
Posted by guest , Aug 12, 2009 1:59PM
@5 Bess, yes, I'm still waiting for the Fatties meets Finance analysis from the 6th. I had to resort to a kind commenter's rare find of pic from a fashion blog to see the chunky chiquitas.
We suffer in silence.
Posted by guest , Aug 12, 2009 1:59PM
MCC listens to hip hop?
Posted by guest , Aug 12, 2009 2:04PM
In Soviet Russia...cars for clunker program drives you!
Posted by guest , Aug 12, 2009 2:05PM
Gregs mom....If you are out there? Please send Greg a note and ask him to post it on DB. It will be the post of the week!
-Someone who misses Gregs mom more than Bess
Posted by guest , Aug 12, 2009 2:07PM
What about this? Seaman Bodine and Vol is King have a bright future(note to ana_lyst, you in there too.... just right behind Greg Michaels...).
http://nymag.com/daily/intel/2009/08/nymag_commenters_are_now_in_an.html
NYMag.com Commenters Go Pro
"HSBC has hired Daily Intel commenting regulars Martell, ScottRose, Rebecca Rose, Till507, and Wallfly to take their act professional: You can see them commenting on various topics in the bank's new "Soapbox" ad, which is hovering around at the bottom of our website. Now they're in The Wall Street Journal, and Martell tells us they're even getting paid!"
Posted by BSD , Aug 12, 2009 2:12PM
Greg, your analogy is deeply flawed.
Pawn shops underpay for goods that they then sell for a profit.
US takes value-less crap and gives out free money.
If anything it's the anti-pawn shop.
Posted by guest , Aug 12, 2009 2:22PM
50k rubles, that's nice, that'll get you two Lada hubcaps a bottle of Starka and boom boom from Tatiana from the Urals.
Posted by guest , Aug 12, 2009 2:49PM
10 YEARS old
YEEEAAAAARRRRRRRRSSSSSSS
YYYYYYYEEEEEEEEEEEAAAAAAAAARRRRRRRSSSSSSSS
arrrrrrrrrrrrrrhhhhhhhhhhhhh
Posted by guest , Aug 12, 2009 3:18PM
@13 totally agree... Greg you're an idiot, kill yourself. See financials for EZ Corp, owner of pay-day loan services and pawnshops...
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0000950134%2D08%2D022121%2Etxt&FilePath=%5C2008%5C12%5C15%5C&CoName=EZCORP+INC&FormType=10%2DK&RcvdDate=12%2F15%2F2008&pdf=
A company that truely knows the meaning of CREAM.
Posted by guest , Aug 12, 2009 6:34PM
Greg's "globe" of course excludes France, Britain, Germany, Italy, Romania, Austria, the Netherlands, Spain and Serbia who all enacted "cash-for-clunkers" programs earlier this year