Now that 'The One' has fired GM Chairman and CEO Rick Wagoner, he has come up with the following:
Unveiling the Government Car Warranty
posted at 9:26 am on March 30, 2009 by Ed Morrissey
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Good news, American auto owners! If you’ve been eyeballing a Lexus or a CRV because you want to own a car whose maker will be around long enough to honor the warranty, take another look at Detroit. Instead of handling their own warranties, Uncle Barack and his dog Spot will handle your warranty — along with a hefty new bureaucracy:
Obama will make two other announcements Monday.
One, the president will announce a new government-backed warranty program for all new GM and Chrysler vehicles purchased during this restructuring period. A fund will be set up equal to 125 percent of the total cost to pay for warranty service. The auto makers will contribute 15 percent while the government will provide 110 percent, with the money coming from the economic stabilization funds, the gift that keeps on giving. A separate company will hold the funds and pay the claims even if one of the auto manufacturers goes into bankruptcy or out of business.
The president will also name a Director of Recovery for Auto Workers and Communities. Edward Montgomery, labor economist and former Deputy Secretary of Labor, will serve in the role, helping autoworkers, communities, and regions adversely impacted by the failure of the automakers find new jobs, businesses, and industries.
This is great news — for fans of the DMV. Vehicle owners can expect the same kind of efficiency and expertise they receive there in handling warranty issues with their vehicles. Instead of working with dealers on the warranties, the government will now have to get involved, which will mean extensive paperwork for every warranty claim as the Directorate of Auto Warranties will have to account for every single penny, or at least those pennies that don’t get earmarked for Auto Warranty Bike Paths by Rep. Jim Oberstar.
Finish your assignment:
http://hotair.com/archives/2009/03/3...-car-warranty/
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