Author: Serkadis

 

   and

Speech – On the Outlook for the Economy and Policy – Chairman Ben S. Bernanke – At the Economic Club of New York, New York, New York – FRB Board

and
Bernanke hints low-rate period may get even longer – Bloomberg – Federal Reserve chairman Ben Bernanke’s diagnosis of a weak US economy and labour market signalled that the central bank’s extended period of low borrowing costs may get even longer.  Bernanke said that “significant economic challenges remain”, with lending constrained and the jobless rate above 10 per cent. – The Economic Times of India

Speech: Food or Commodity Price Shocks and Inflation: A Central Banker’s Perspective –
President Charles I. Plosser gives a central banker’s perspective on the challenges that volatility in food prices or other relative prices poses for monetary policy. He will discuss three approaches central bankers can take to protect their credibility to control inflation in the face of these price shocks. – Philadelphia FRB

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U6 Unemployment during the Great Depression – …  Unlike U3, U6 unemployment levels are a more complete  and broad picture of unemployment in the United States.  U6 includes U3, plus discouraged workers,  those working part time who want a full time position, plus marginally attached workers. U6 unemployment levels currently reside at 17.5% … – Surly Trader

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Velocity of US money supply at long last edging up – Posted by Prieur du Plessis – … Velocity of MZM is at long last picking up after it started falling in the first quarter of 2007 – six quarters before economic growth slumped. The increase in MZM velocity effectively points to increased economic activity. Further increases in this velocity are essential for sustained economic growth. … – Investment Postcards from Cape Town

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Americans save more but earn less as rates fall – By STEVENSON JACOBS – … Rates are falling near zero this time because of prudence, not panic. …  The dive in interest rates comes as Americans sock away more money. Today’s personal savings rate of 3 percent is nearly double that of a year ago. Economists say it could rise as high as 8 percent as households try to rebuild savings shredded by the recession. … – AP Yahoo

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25 Reasons We Will Not Have a Depression – Kimball Corson – Seeking Alpha

vs
10 Reasons to Believe That We’re in a Depression  – Marvin Clark – Seeking Alpha

Reader Kasey Krehbiel alerts us to some news coverage of the FCC’s recently released list of seven “critical gaps” in reaching universal broadband (pdf) and is rightfully surprised to note that a lack of competition in the marketplace is not on the list. Such an absence makes you wonder if the FCC is really paying attention. Most of the other “gaps” would quickly disappear if there were meaningful competition in the market — but we’ve never had a real policy of encouraging broadband competition in the US. Instead, policy has mostly been driven by incumbents who have lobbied hard for exactly the opposite.

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Filed under: Aftermarket, Coupe, Performance, Chevrolet

Back in April, we told you about the new partnership between Chris Fesler’s custom car shop and Jon Moss, the former director of General Motors’ specialty vehicles division. At that time, we only had renderings of the proposed Fesler-Moss Camaro, but these fresh photos of a pair of completed cars is evidence that the duo has been hard at work since then.

The Fesler-Moss Camaro is currently available in two flavors. First up is the Competition Package, which commands a $50,000 price tag in addition to a donor car, and it mainly focuses on a variety of carbon fiber or billet body components, but it also features performance upgrades like a supercharger and six-piston brakes. For customers who want the ultimate Fesler-Moss Camaro, they can opt for the Limited Edition Package. This adds even more carbon fiber items, color-matched leather seating surfaces, a custom sound system, and best of all, swaps out the LS3 for a supercharged LS9 V8. Just sixty will be built at a daunting price tag of $150,000. Follow the jump for a full list of upgrades for each package.

[Source: Fesler-Moss via SeriousWheels.com]

Continue reading Fesler-Moss shows off new line of tuned 2010 Camaros

Fesler-Moss shows off new line of tuned 2010 Camaros originally appeared on Autoblog on Mon, 23 Nov 2009 20:00:00 EST. Please see our terms for use of feeds.

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Chart guru Robert Prechter was on Fast Money this evening, reiterating his comments about extreme declines. He states that bullishness has gone from 2% to 90% (though we’re not sure where that comes from), and that volume and breadth are down.

Interestingly, when he was asked about gold, he demurred and said he was “very, very bullish” on the dollar.

Join the conversation about this story »

See Also:

• Prechter: The Dollar Is Going To Surge
• Prechter: The 2008 Crash Was Merely A Warmup
• Prechter: Oil Will Crash To $10 A Barrel

 

Is a Second U.S. Stimulus Package Headed Our Way? – By Jon D. Markman – Money Morning

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revenue source? – Fines for too-tall grass could rise to $1,000 a day in Jupiter – By BILL DIPAOLO – Palm Beach Post  

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Fed Makes Monitoring Capital Foremost Concern Amid Bubble Talk – By Craig Torres and Michael McKee – Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter. – Bloomberg

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Treasury to Auction Off Big-Bank Warrants – By ERIC DASH – … The Treasury will sell warrants that the government received as part of the taxpayer-financed rescue via auctions next month. The sales could raise $1.3 billion to $3.1 billion. The move will free the three banks — JPMorgan Chase, Capital One Financial and TCF Financial — from the Troubled Asset Relief Program, or TARP. … – NY Times 

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Panel Votes to Broaden Oversight of the Fed – … The House Financial Services Committee approved a measure proposed by Representative Ron Paul of Texas that would allow Congress to order audits of all the Fed’s lending programs as well as of its basic decisions to set monetary policy by raising or lowering interest rates, Edmund L. Andrews writes in The New York Times. … Fed officials have adamantly opposed the measure, saying it would undermine the central bank’s political independence and gravely threaten its credibility as a bulwark against inflation.  The vote on Thursday occurred despite the opposition of Representative Barney Frank, … – NYT Dealbook

Filed under: Autoline on Autoblog

How to Raise the Gas Tax

Raising taxes on gasoline is political suicide in the United States. Any politician foolish enough to propose raising the gas tax would be hounded out of office, or never elected in the first place. We, the American people, will see to that.

You see, we don’t like taxes of any sort. And we especially hate gas taxes. Owning a car in America isn’t so much of a privilege as it is a necessity. Most our communities don’t have public transportation. So we need our wheels to get to work, or school, or going out for fun, or whatever else we want to do with them. In America, even the poorest among us drive cars. And none of us want the government taxing our mobility out of our reach.

But maybe the problem is that the American people have never been properly sold on the need to raise the gas tax. Here’s my pitch.

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John McElroy is host of the TV program “Autoline Detroit” and daily web video “Autoline Daily”. Every week he brings his unique insights as an auto industry insider to Autoblog readers.
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Continue reading Autoline on Autoblog with John McElroy

Autoline on Autoblog with John McElroy originally appeared on Autoblog on Mon, 23 Nov 2009 19:26:00 EST. Please see our terms for use of feeds.

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Daily U-Turn: What you missed on 11.23.09 originally appeared on Autoblog on Mon, 23 Nov 2009 19:20:00 EST. Please see our terms for use of feeds.

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Filed under: China, Hatchback, Misc. Auto Shows

The last new MG was the MGF sportscar way back in 1995, and oh, what a difference 14 years makes. The MG6 is the first new MG by the company’s new owner, Shanghai Automotive Industry Corp. (SAIC), and they’ve chosen a four-door liftback for their coming out party. About the size of a VW Golk/Skoda Octavia, the MG6 will be powered by either a naturally aspirated 1.8-litre four-cylinder with 133 brake horsepower and 135 pound-feet of torque, or a turbocharged 1.8-liter with 160 bhp and 158 lb-ft. Shifting is said to be via five-speed automatic.

The MG 6 will go on sale in China first, but it has reportedly been engineered to meet global safety standards and is expected to be exported. SAIC hasn’t given any numbers or even locations for export yet, but the company president said they plan to produce it in the UK by the end of next year.

[Source: Autoblog China (translated)]

SAIC-owned MG launches MG 6, first all-new car in 14 years originally appeared on Autoblog on Mon, 23 Nov 2009 19:00:00 EST. Please see our terms for use of feeds.

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Sympathy for skiing Ryder

Editor, The Times:

At first glance, prior to reading the caption of the photo of Bob Wenger and his 7-year-old dog Ryder, I was amused to see Ryder being carried by his owner like a piece of luggage [“Doggy Ryder rides show’s bunny slope,” NWSunday, Nov. 22]. But my amusement turned to pity for poor Ryder when I read Ryder was just a pawn and part of his owner’s idea of entertainment for a display at the convention center.

I had to read it twice before I realized it was for SkiFever, a ski and snowboard show.

Still, photos like this only encourage pet owners to believe animals are here for the owner’s entertainment. Ryder is a 7-year-old, which means he is entering his senior years. To be restricted and attached to doggy skis and forced down a grade of any length is cruel and dangerous for the elderly pooch.

Would Wenger think it was entertaining if we took an elderly relative of his, strapped skis on this unsuspecting person, brought him or her to the top of a grade and pushed?

— Barb Felts, Shoreline

Should have left Salvation Army in the cold

It is unfortunate that The Seattle Times has once again included the Salvation Army as one of its Fund For The Needy recipients [“When times are tough, finding a way to give,” page one, Nov. 22]. This is inappropriate for two reasons.

First, the primary mission of the Salvation Army, which describes itself as evangelical, is to preach the gospel of Jesus Christ. For example, hungry men who want a meal must first sit through Christian sermons.

The Salvation Army is certainly free to push its religion on the vulnerable, but it’s offensive for The Times to ask a diverse community — including Jews, Hindus, atheists, and other non-Christians — to support Christian proselytizing. There are many organizations, such as Northwest Harvest, that help those in need without also trying to convert them.

Second, the Salvation Army discriminates. In 2001, it agreed to back former President George W. Bush’s faith-based initiative if Bush pushed for regulations allowing the Salvation Army to discriminate against gays when filling taxpayer-funded jobs and providing domestic-partner benefits. In 2005, the Salvation Army won a court case that allowed it to fire non-Christian employees, even though those positions were publicly funded.

Finally, The Times article never mentioned the evangelical nature of the Salvation Army when asking for donations. Just slipped your mind?

— Matthew J. Barry, Issaquah

B minus warrants a bonus in Seattle Public Schools

One can’t fault Superintendent Maria Goodloe-Johnson [“Bonus for supe with a B minus?,” NWSunday, Nov. 22], the contract and job evaluation is the doing of the board. The voters who elected them are ultimately responsible.

The superintendent’s job is an impossible one. She must be crazy, as she must know that an enterprise cannot be managed when the workers union is in charge.

Columnist Danny Westneat was right, in part —teachers aren’t in it just for the money but for the security, tenure, the right to sit on their butts and complain.

The only way out of this mess is to give parents and their children choice —what school to attend. People have a choice in where to worship or not where to shop, whom to love. Why not a choice of an environment that makes it possible to learn?

— Jim Ewins, Seattle

Lower standards, scores, expectations. What’s next?

Let’s see. The achievement standards have been lowered to suit the scores of the students. Teachers can’t even teach to the test. And now we’re giving students even longer to learn how to add and what an animal is [“Finally getting it right on math and science,” Opinion, Randy Dorn guest commentary, Nov. 19].

Could our standards and expectations get any lower? So far, when in doubt, we make the test fit our scores.

Why don’t we just give the kids the answers in the back of the test and see if they can find them?

— Lucy Stimmel, Kirkland

State’s superintendent of instruction weighed in

The Nov. 19 Seattle Times had two articles, by and about State Superintendent of Public Instruction Randy Dorn, in which we find a proposed way to continue to delay meeting the required level of student learning [“State school chief seeks later dates for passing tests,” NWThursday].

Dorn says he is concerned about how few students are passing state tests in math and science.

His solution is to do the same thing that the education system has been doing, then wait a couple years and things will be better.

It sometimes is forgotten that the education-reform bill was passed in 1993, and by now they should have their act together. The object was to define the knowledge and skills required of our high-school graduates, then tune the teaching and testing accordingly.

It isn’t satisfactory to have them almost good enough by using a second-tier test. If the WASL can be considered to be the filter that students go through to show they have the knowledge and skills for success in life, then use it.

Our students and our nation are at risk.

The change needs to be in the education system. Students can learn math and science and they must. No excuses.

— Robert J. Feutz, Redmond

Bullying, violence must stop in Seattle high schools

My nephew is mentally handicapped, socially. He has been diagnosed with Asperger’s syndrome, a form of Autism. He is now 16 years old, and although my sister repeatedly begged for assistance from the state for this disease of the mind, her cries for help fell on deaf ears.

He is now a sophomore at a Seattle high school and has been bullied, laughed at, taunted and even teased by older girls at his school, so that others would laugh at him. My sister had argued repeatedly to the school officials to have her son transferred, but they would not accommodate her wishes. Recently, a female senior at this high school played a prank on him, teasing him into thinking she wanted to be his girlfriend. Naturally he reacted, and she then charged him with assault.

If we are dealing with a normal sophomore, a case can be made for bullying, since this not only involved her, but a large group of kids at this high school. Since this was done to a mentally handicapped kid, with school officials ignoring repeated requests for special treatment and/or transferring from this school, we are looking at possible criminal charges being filed at the Seattle school district.

Sarah Palin has a mentally handicapped son, Jim Carrey is helping raised Jenny McCarthy’s autistic son. Many families have children who are potential victims to bullies at school.

When will we recognize that this violent behavior must end, and that special attention be paid to those who are mentally handicapped and therefore prone to a type of bullying children without mental handicaps could or could not overcome?

— David Martin, Lynnwood

I must have missed the faith-slandering Bible verse

Pat Robertson is at it again, true to form in his rhetoric’s divisiveness [“In military, Muslims speak out,” News, Nov. 12].

Now he claims that Islam is not a religion, but “a violent political system.” Why is this creepy hypocrite given airtime?

Hello Robertson, would you like to look back over history and tally the wars, deaths and carnage committed in the name of Christ?

Nah, I didn’t think so.

Islam is not any more a violent political system than Christianity or Judaism. Are there violent Muslims? You bet. Just like there are Jews, Christians, Buddhists and the list goes one.

Faiths are by virtue about love, honor and peace. There are peaceful and violent men and women in all of the world’s faiths. Violence is a wicked human failing, not a religious belief system.

Robertson is guilty of violence via the rhetoric and garbage that spews forth from his mouth. He claims to be a Christian, though I’m not seeing Christian behavior.

Does that make the Christian faith a violent political system? Not the one I believe in.

Where in the Bible does it say it is OK to slander other faiths? I missed that verse.

— Wendy Fosnight Dymoke, Bainbridge Island

I’m beginning to sense a trend. Just last month, we talked about a top exec at Paramount claiming that his “real worry” about movie piracy online was how it was going to harm indie films, since, as a big company, Paramount could take it. Then, just a week or so later, Sony Pictures’ boss, Michael Lynton, also started talking about how fewer movies were being made due to piracy. Unfortunately, he was wrong. In the past five years the number of films being released has more than doubled and the major studios are making more money than ever at the box office. And yet… they keep trying. Dark Helmet points us to the news that the CEO of Fox Films, Jim Gianopulos, is the latest to claim that movie “piracy” is harming independent films the most (while saying it’s harming everyone in the movie business, despite no evidence to support that claim). He made this statement while suggesting that the US needs to follow France in kicking people off the internet for file sharing accusations (not convictions).

It looks like the heads of the studios have all received their talking points from the same source (MPAA?) on this one. They’re going to talk up the supposed harm to indie films, even as the indie film market appears to be figuring stuff out on its own (in part due to smart indie film producers embracing file sharing as a better means of distribution and promotion). My guess is that the strategy is a response to the realization that those massive box office returns don’t look good when the major studios argue for more draconian copyright laws, so just as the RIAA makes up stories about “protecting the up-and-coming artist,” the major studios and the MPAA are now using a bogus PR strategy of “protecting the indie filmmaker,” when all they really want are more laws to offer additional protectionist policies for the next blockbuster.

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Nothing says educated like hairy legs and underwear?

Editor, The Times:

Ellen Goodman could have spared us some time by reducing her recent 748-word column on Sarah Palin [“The rogue elephant’s book tour,” Opinion, syndicated column, Nov. 20] down to 4 words: I don’t like her.

Goodman is like a learned professor holding forth in a witty, scholarly disquisition while his audience can’t get past the fact that he had forgotten that morning to put on his trousers. His underwear and pale hairy legs are just too distracting from his clever profundities.

In Goodman’s case, the absurdity that detracts from all is her support of Barack Obama for president.

Obama was and is much less qualified than Sarah Palin to lead the country.

So far, everything the Obama administration has done and tried to do has been extremely divisive and a complete waste of time and treasure. And yet Goodman supported Obama for president, while contending that Palin was grossly underqualified to be vice president, a job with no duties of consequence except to preside over the Senate. What’s with that?

— Peter Kogler, Seattle

Former Alaska governor fights for the heartland of America

Former Gov. Sarah Palin’s book went on sale last week and the Democratic establishment treated the governor with contempt.

For example, a recent Newsweek cover featured the governor in shorts, and the Democrat’s pundits blamed her for the unflattering photo. The attacks on the former governor are relentless in the media.

The establishment was sharply critical of her for resigning as governor. Nevertheless, she left Alaska in much better financial shape than a near-broke California and most other states.

Aligned with many of the states near bankruptcy, the Democrat federal government’s spending cannot be sustained even with confiscator tax increases.

Heartland America admires Sarah Palin because of her demonstrated Alaskan fiscal conservationism and traditional uncompromising American values.

She must keep fighting for the heartland.

— Norma Wilbur, University Place

Social Security and Medicare broke?

Nicholas Kristof’s “Health-reform foes buck historical tide” [Opinion, syndicated column, Nov. 20] tries to ignore the elephant in the room.

His claim that Social Security and Medicare “work” is true on some levels, but when one considers fiscal responsibility, they are failures.

They are both going broke.

Social Security can be described as a government-run Ponzi scheme; Medicare costs tens of times more than what the Democrats originally claimed. And so will the Democrat’s health-care plan. As Grandpa would say, “If you can’t pay for it, you have no business owning it.”

After praising Social Security and Medicare several times, Kristof managed to bring up cost once by stating there are problems in the House and Senate health-care bills, in particular they falter in cost containment.

This should be the major concern of voters.

Both parties have been kicking the can of national debt down the road for decades, but in this regard President Obama has outdone all the rest combined. And Sens. Patty Murray and Maria Cantwell are helping him do it, to the eventual ruin of us all.

— Ted Hannum, Bellevue

Underlying value system is the unaddressed issue

Who in his or her right mind would not join wholeheartedly in figuring out how to provide high-quality health care at reasonable cost to every citizen [“First key vote today on Senate health bill,” page one, Nov. 21]? How can a nation that prides itself on high moral standards allow people to make profits on the backs of people who are sick?

The fundamental problem is that all of us who have investments make money because people get sick. We, or investment managers on our behalf, press constantly for increased profits and stock value.

Shame on us.

I don’t want a socialist system that takes incentive for performance and accountability out of the equation. That argument is a ruse. There are many not-for-profit organizations in the U.S. that outperform for-profit corporations in effective use of resources.

The unaddressed issue is our underlying value system.

If we demand ever-increasing profits from our health-related companies, we will never lower the cost of health care in this country. We can only hope to rearrange the deck chairs and fight to out maneuver one another for the best seat.

It is time to start asking the real questions and to look in the mirror.

— Sam Magill, Edmonds

The health-insurance-reform bill

I wish people would stop referring to the bill going through Congress as a health-care bill [“Tight vote launches health care over hurdle,” page one, Nov. 22].

It has nothing to do with either doctors or hospitals, as far as I know. Doctors and hospitals provide health care, insurance does not.

Even Sen. Patty Murray’s Web site correctly refers to it as a health-insurance-reform bill.

I don’t think that health insurance will ever become more affordable unless we start confronting the people many Americans consider mini-gods: physicians and hospitals.

— Anita Legsdin, Seattle

Physicians’ community speaks up, against new recommendations

We, as physicians and experts in breast cancer, agree with the long-standing recommendations of the American Cancer Society for screening mammography, beginning with annual exams at age 40 [“Cutting through cancer confusion,” page one, Nov. 22]. We disagree with the United States Preventive Services Task Force (USPSTF) recent change in guidelines.

We fear that this will discourage women from having mammograms and result in unnecessary deaths from breast cancer.

We believe their flawed analysis of old data underestimates the number of lives saved by mammography. Furthermore, modern digital technology has improved cancer detection in this age group. Even if one accepts a mortality reduction of 15 percent put forth by the USPSTF (rather than 30-40 percent as has been shown in multiple randomized controlled trials), we feel those lives are worth saving.

They estimate 1,904 women in their 40s must be screened to save one life, which they find unacceptable. For women in their 50s, 1,339 women must be screened, and they deem this acceptable.

We agree with the American Cancer Society that the lifesaving benefits of screening outweigh any potential harms.

At least 40 percent of years of life saved by mammogram screenings are of women between the ages of 40 and 49.

We feel that all lives saved are important, at any age.

— Katherine E. Dee, MD, on behalf of many members of the local physicians community

I know my life was worth it

Thank you for Lynne K. Varner’s excellent column on mammograms [“Mammograms: a second opinion,” Opinion, Nov. 18]. I loved the question, “Of the lives saved by mammograms, which ones weren’t worth the effort?”

I was 60 when my tumor was found in January of 2003. It was very deep, and would have had to grow significantly (and potentially spread) before I would have found it via self exam. If I had waited a second year for a mammogram, it could have also been much more advanced.

As it was, the size was borderline and chemo was an option to add to the surgery and radiation. My oncologist and surgeon encouraged me to go for it, since I was “young” and otherwise healthy. I agreed, and knew I could handle the treatments.

By July 23 I had completed all three phases of treatment, and on July 30 I was on the boat at Chelan headed for Holden Village, my favorite mountain retreat, to heal my spirit.

I have now been cancer-free for more than six years, and no longer have to take medication. I live a very active life with friends and family, volunteer work and some travel. I still walk three miles a day, six days a week rain or shine.

Of course, I think I was worth it. Thanks for sounding the message loud and clear.

— Linda K. Jensen, Lynnwood

Settlement will be lost in budget crisis

The article “Molested girl gets $1.5M in state settlement” [NWSaturday, Nov. 14] presented information regarding a mother unable to care for her 2-month-old child because of encounters with the law. The 2-month-old child was placed in the paternal grandmother’s home and then the grandfather was released from prison, convicted of child-molestation charges.

Then the grandparents took turns abusing the child. Not a pretty family testimonial.

So now the government is charged with making good family decisions, and the family is not responsible? Now a state agency — Department of Social and Health Services (DSHS) — is responsible for people’s actions, and sued successfully, and families are not accountable.

One issue to consider: Where does the state agency get funding to pay for this frivolous lawsuit? Taxpayers?

Government typically self insures, funded by taxpayer dollars.

Was there a need for liability insurance protection when DSHS was created? Some people might now consider this service as an entitlement.

In closing, the article indicated the lawyering activity was rewarded with one-third of the $1.5-million settlement. A $1.5-million settlement will soon be lost in the $20.5 billion DSHS 2010 supplemental budget request submitted to the Office of Financial Management.

— Mike Klein, Seattle

Filed under: Motorsports, Hirings/Firings/Layoffs, Mercedes-Benz

Following earlier speculation, the newly-acquired Mercedes Grand Prix team has confirmed its first driver for the upcoming Formula One season. As expected, Nico Rosberg will be switching places with Rubens Barrichello, the departing Brawn GP driver who moves to Williams for next year.

24-year-old Rosberg is the son of former World Champion Keke Rosberg, but he has earned a reputation all his own. After winning the inaugural GP2 Series title in 2005, Nico became the youngest driver to test an F1 car and was subsequently hired by Williams F1, for whom he’s raced for the past four seasons. This year, he placed a respectable seventh in the drivers’ championship, but there’s no telling what he can accomplish with his new World Champion team.

Although he holds Finnish citizenship, Nico was born in Germany, raised in Monaco and races under a German license. The new Mercedes team is tipped to be pursuing an all-German driver lineup, with eyes locked on departing arch-rival BMW’s Nick Heidfeld to join Rosberg behind the wheel, while rumors of Michael Schumacher’s return or Kimi Raikkonen’s change of heart persist.

Details are the press release after the jump, where the team repeatedly refers to the return of the Silver Arrows, leading us to wonder exactly what banner the new team will fly when it hits the grid next year.

[Source: Mercedes GP | Image: Clive Mason/Getty]

Continue reading Officially Official: Mercedes GP confirms Nico Rosberg for 2010

Officially Official: Mercedes GP confirms Nico Rosberg for 2010 originally appeared on Autoblog on Mon, 23 Nov 2009 18:30:00 EST. Please see our terms for use of feeds.

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Filed under: Car Buying, Marketing/Advertising, Chrysler, Dodge, Jeep

In an effort to spur lagging sales, Chrysler has reportedly cranked up incentive spending on nearly all of its models by $1,000 to $1,500 while also offering 0% financing on many of its models. Chrysler is also said to be offering lease incentives of $500 to $1,000 on minivan leases and financing deals on leftover 2008 and 2009 Dodge Vipers.

The move towards additional rebates comes as incentive spending has been down for crosstown rivals General Motors and Ford. And Chrysler was already spending more on incentives than the industry at large – Edmunds says the typical Chrysler, Dodge or Jeep sold had $3,219 on the hood versus an industry average of $2,486. Chrysler is in a tougher position than its Detroit contemporaries, because the Auburn Hills, MI-based automaker has seen its sales slide by 39% on the year – more than any other major player in the U.S. market. One thing Chrysler does have going for it is that dealer inventory is largely in check and Automotive News is reporting that 88% of its vehicles are 2010 models.

Chrysler’s latest round of incentives is good now through January 4, 2010.

[Source: Automotive News – subs req’d | Image: Mark Ralston/AFP/Getty]

REPORT: Chrysler piles on even more incentives ahead of the holidays originally appeared on Autoblog on Mon, 23 Nov 2009 17:59:00 EST. Please see our terms for use of feeds.

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