What a good meeting I just came from. The Havana automobile dealers and a few others had a meeting with Rep. Ed Perlmutter at the Budget Car Sales Store on Havana. We were in the shop area, for those wondering about that – these are the owners of car dealerships, a shop bay is a natural environment. I like the shop environment too (see my diaries about a NASCAR track).
Talking to the dealers before the meeting confirmed what I expected about the stimulus money, termed “cash for clunkers”. It worked as intended. People did buy new cars, people did trade in their older cars. Also, the dealers worked hard to even try to make deals with those whose cars were not on the official lists. But, every one of the dealers said the same thing – it needs to be extended.
Rep. Ed Perlmutter came by and the nitty gritty meeting started. Ed gave us a Congressional run down on what is happening, what happened and what he hopes will happen with the holders of the economic pen. The encouraging news is the economy may be bottomed. The bad is that the regulators are not letting loose of the credit yet.
The questions were good, for the most part. The dealers are business people and asked what is going to be done to help them survive the recession. They also wanted to know what might be happening in the future. Ed had some encouragement, and a lot of “it depends on the Senate”.
For me the main meeting was being able to talk to all the dealers to get their own sense of what is going on. We pretty much came to the same conclusion at the same time when Perlmutter noted how large a group was in attendance. It was because the business owners along Havana had formed their own Business Improvement District to tax themselves to improve their businesses and Havana. They are working towards a common goal of success. I know they will do it too.
A question that nagged me a bit was could this be just a way to “bailout” the car manufacturers and the dealers? Yes and no. Yes because getting people buying cars using the incentives of more fuel economy in a new car and getting it at a cheaper price is great for the dealer. No because this gives people worried about spending any money a reason to buy a major ticket item, a car. Something not talked about in the media is the absolute stop to people spending money. This little program is one of the needed government programs to “jumpstart” the economy.
The American economy is consumers buying and businesses selling. Well, there hasn’t been any buying and selling and the American economy is in the basement. This narrowly targeted 1 (one each) billion of a multi-trillion dollar budget is almost nothing. Yet it can be the little acorn that grows into a new and mighty oak (lame for this could be the start of the new and recovered Aurora and America).
And finally, a great buffet was provided by restaurants of Havana BID. Great. There was so much left over I got to bring a couple of chili cheese dogs home for late dinner. This was an excellent meeting and hopefully a nice start to a new economy here.