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	<title>Susan Sheu &#187; Economy</title>
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	<link>http://www.susansheu.com/dev</link>
	<description>Susan Sheu: writer, parent, public health junkie</description>
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		<title>No license plate, no problem</title>
		<link>http://www.susansheu.com/dev/business/economy/no-license-plate-no-problem/</link>
		<comments>http://www.susansheu.com/dev/business/economy/no-license-plate-no-problem/#comments</comments>
		<pubDate>Sun, 26 Apr 2009 07:25:23 +0000</pubDate>
		<dc:creator>Susan</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Los Angeles]]></category>
		<category><![CDATA[Personal]]></category>
		<category><![CDATA[California]]></category>
		<category><![CDATA[cars]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[license plate]]></category>

		<guid isPermaLink="false">http://susansheu.wordpress.com/?p=247</guid>
		<description><![CDATA[I&#8217;ve been spending a lot of hours on the streets of West Los Angeles lately and noticing that lots of cars are without license plates. One car at my children&#8217;s school has been sporting the dealer-issued ad-in-lieu of license plate for around a year. The other day, driving north on Sepulveda, a sporty black Volvo [...]]]></description>
			<content:encoded><![CDATA[<p>I&#8217;ve been spending a lot of hours on the streets of West Los Angeles lately and noticing that lots of cars are without license plates.  One car at my children&#8217;s school has been sporting the dealer-issued ad-in-lieu of license plate for around a year.  The other day, driving north on Sepulveda, a sporty black Volvo weaved in and out of lanes like a spy on a car chase (or a drunk on a Saturday night).  No turns signals, no speed within spitting distance of the limit, and no license plate.  Clearly for this driver as well as the many others with no identifying marks on their car and utter disregard for traffic laws, rules are for little people.  With all of the talk of California&#8217;s financial insolubility, I wonder why this issue has not been attacked with the same gusto as the issuing of parking tickets in dense areas of the city?  It&#8217;s not going to fix the budget crisis, but simply enforcing this and other public safety statues in existence would be a great source of revenue.</p>
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		<title>AIG</title>
		<link>http://www.susansheu.com/dev/business/economy/aig/</link>
		<comments>http://www.susansheu.com/dev/business/economy/aig/#comments</comments>
		<pubDate>Mon, 23 Mar 2009 08:28:16 +0000</pubDate>
		<dc:creator>Susan</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[executive bonus]]></category>
		<category><![CDATA[government bailout]]></category>

		<guid isPermaLink="false">http://susansheu.wordpress.com/?p=239</guid>
		<description><![CDATA[Why have the public waited until the AIG bonuses scandal to become outraged?  This behavior on the part of failing companies is par for the course in the world of people who disapprove of handouts, except when it comes to themselves.  The banks and investment houses that received government bailouts also gave their executives large [...]]]></description>
			<content:encoded><![CDATA[<p>Why have the public waited until the AIG bonuses scandal to become outraged?  This behavior on the part of failing companies is par for the course in the world of people who disapprove of handouts, except when it comes to themselves.  The banks and investment houses that received government bailouts also gave their executives large bonuses, based on nothing other than tradition it seems.  &#8221;Retaining talent&#8221; is a joke.  There are plenty of ambitious generation Y and recent graduates who would learn well enough on the job and could well change corporate culture for the better.  They could hardly be less responsible or ethical than the ossified schmucks they would replace.  Dump the losers and let them use creative accounting to figure out ways to get out of paying their own gigantic mortgages.  In any event, get mad as hell and refuse to take it anymore.  Please.</p>
<p>This is a start:</p>
<p>http://news.yahoo.com/s/ap/20090322/ap_on_re_us/aig_bonuses</p>
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		<title>The Hybrid</title>
		<link>http://www.susansheu.com/dev/business/economy/the-hybrid/</link>
		<comments>http://www.susansheu.com/dev/business/economy/the-hybrid/#comments</comments>
		<pubDate>Wed, 18 Feb 2009 06:43:52 +0000</pubDate>
		<dc:creator>Susan</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Los Angeles]]></category>
		<category><![CDATA[Personal]]></category>
		<category><![CDATA[automotive]]></category>
		<category><![CDATA[BMW]]></category>
		<category><![CDATA[cars]]></category>
		<category><![CDATA[Consumer Reports]]></category>
		<category><![CDATA[Ford Escape Hybrid]]></category>
		<category><![CDATA[fuel economy]]></category>
		<category><![CDATA[Highlander Hybrid]]></category>
		<category><![CDATA[lease]]></category>
		<category><![CDATA[Lexus]]></category>
		<category><![CDATA[mileage]]></category>
		<category><![CDATA[minivans]]></category>
		<category><![CDATA[SUV]]></category>
		<category><![CDATA[Toyota]]></category>

		<guid isPermaLink="false">http://susansheu.wordpress.com/?p=232</guid>
		<description><![CDATA[I have had my trusty VW Passat V6 wagon for several years.  I&#8217;m still proud of it.  It&#8217;s an exponentially better ride than most of the other cars I&#8217;ve driven.  My mother&#8217;s &#8217;73 Plymouth Valiant comes to mind.  The last time I saw that car was on a &#8220;Push Pull and Drag&#8221; TV ad in [...]]]></description>
			<content:encoded><![CDATA[<p>I have had my trusty VW Passat V6 wagon for several years.  I&#8217;m still proud of it.  It&#8217;s an exponentially better ride than most of the other cars I&#8217;ve driven.  My mother&#8217;s &#8217;73 Plymouth Valiant comes to mind.  The last time I saw that car was on a &#8220;Push Pull and Drag&#8221; TV ad in 1984, offering a good trade-in value for car that you could get onto the dealer&#8217;s lot.  Our poor car was being towed in and held up as an example of the extremes the dealership would go to in order to get new customers.</p>
<p> </p>
<p>But lately I&#8217;ve noticed that my car&#8217;s gas mileage hovers around 13 mpg in the city.  Admittedly I drive in dense traffic day in and day out in West Los Angeles, rarely touching a freeway and instead creeping along Sunset, Wilshire, and Sepulveda during peak hours.  The creaks and groans that I get taken care of at the dealership now average around $700 to fix, but I lack the time to find a mechanic to equal the VW&#8217;s official auto shop.  The other issue is that my children&#8217;s car and booster seats take up the bulk of the back seat.  Under normal conditions, the middle &#8220;seat&#8221; between them is filled with toys they&#8217;ve outgrown but still play with, books, and the action figures and prizes they&#8217;ve been given over the years at birthday parties.  A couple of weeks ago, however, the car was called upon to haul all five of us (the kids, my husband and me, and my mother) through Los Angeles at rush hour on a drizzly night.  Because of my relative smallness and nimbleness, I was the only adult candidate to sit between the car seats in back.  I could not even touch both shoulder blades to the seat, and try as I might, I couldn&#8217;t dig the middle seat lap belt out of the black leather recesses.  So I rode without a seat belt, crushed over the middle hump in my high heels and dress.  After the roundtrip ended, I was thoroughly crabby from being crammed into the tight space and vowing that, with my husband as my witness, I would never have such a miserable ride again.  (In fairness, this had as much to do with having my hungry children on either side of me, wanting me to feed them like baby birds from the bag of fruit, crackers, and cheese that I&#8217;d brought.)</p>
<p> </p>
<p>So my husband and I have been researching and test-driving cars.  For tax and business reasons, we need to lease the car.  We&#8217;ve tried to be pragmatic in assessing our needs, but open to whatever new data is presented to us.  My first priorities were significantly improved fuel economy, the same or better seating (5 comfortably, better yet 6, even if numbers 5 and 6 are not entirely comfortable).  Price was a consideration because we don&#8217;t want to feel like suckers.  As much as I like the Woody Allen &#8220;Sleeper&#8221; look to the Prius, it&#8217;s neither practical for me nor a good  price point for the car that it actually is (as opposed to the concept).  Ditto the Toyota Highlander, so the consumer conventional wisdom goes.  Nevertheless, I convinced myself that the Highlander Limited with the 3rd row is the only car that meets most of the criteria.  So we test drove and researched.  The sales representatives have been less that impressive.  They&#8217;ve ignored our instructions, contacting us by phone when we requested email, and exhibited poor follow up and courtesy.  To top it off, the lease prices are prohibitive relative to the sticker price of the car (in the low $40&#8242;s with options).  There doesn&#8217;t seem to be much out there, and what interests me in concept turns out to be a bust when I turn to Consumer Reports or Edmunds.  Here I am thinking of the Ford Escape Hybrid, like the brand new one I rented for two weeks recently, that is rated poorly by Consumer Reports and also has a laughable lease payment.  Then there are the cars that I didn&#8217;t exactly want anyway &#8211; the tricked out minivans like Sienna and Odyssey &#8211; that offer good consumer ratings, spacious interiors and cool features, and little to no improvement in fuel economy.  At moments like this, when GM requested a $30 billion bailout  and announced layoffs for 47,000 workers, I feel really cynical about the auto industry.  Not just the American auto industry, but the entire auto industry.  It doesn&#8217;t seem like technological jiu-jitsu to just make a few nice looking cars that fit six people and burn less fuel than a motorhome.  If there were a few such cars, rather than one (on a good day), then maybe there would be some competitive pricing and the economy would be suffering from one less dying industry.  In 2010, or 2012, or 2014, depending on which prescient article you read on the future of hybrids and alternative energy cars, the market will be flooded, FLOODED! one is told.  That&#8217;s wonderful.  But what took so long?</p>
<p> </p>
<p>In the meantime I&#8217;m considering all options.  One would think that in this economy moving inventory has some value to both dealerships and car manufacturers.  My hope is that Toyota financing reevaluates their terms and soon.  I still prefer the Highlander Hybrid, but not so much that I want to pay a Mercedes Benz-sized monthly payment for it.  Today I was in the weird position of test driving a BMW X5.  Tomorrow I guess I&#8217;ll drive the Lexus RX400h.  If I&#8217;m going to get hosed for a giant lease payment, I may as well get joie de vivre with it.</p>
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		<item>
		<title>2009</title>
		<link>http://www.susansheu.com/dev/business/economy/2009/</link>
		<comments>http://www.susansheu.com/dev/business/economy/2009/#comments</comments>
		<pubDate>Wed, 31 Dec 2008 09:52:42 +0000</pubDate>
		<dc:creator>Susan</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Personal]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[2009]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Blagojevich]]></category>
		<category><![CDATA[George W. Bush]]></category>
		<category><![CDATA[holiday]]></category>
		<category><![CDATA[Illinois]]></category>
		<category><![CDATA[Madoff]]></category>
		<category><![CDATA[new year]]></category>
		<category><![CDATA[persevere]]></category>
		<category><![CDATA[prosperity]]></category>
		<category><![CDATA[recession]]></category>

		<guid isPermaLink="false">http://susansheu.wordpress.com/?p=210</guid>
		<description><![CDATA[I think it would be impossible to say that I think 2009 is going to be a great year.  The economy in the United States and abroad is tanking.  Banks and investment houses have failed.  The real estate market is sinking, and no one I know is buying.  Acquaintances who I&#8217;d never think would economize [...]]]></description>
			<content:encoded><![CDATA[<p>I think it would be impossible to say that I think 2009 is going to be a great year.  The economy in the United States and abroad is tanking.  Banks and investment houses have failed.  The real estate market is sinking, and no one I know is buying.  Acquaintances who I&#8217;d never think would economize are worried about money and cutting back on anything discretionary.  I know one couple where both lost their jobs in 2008 and others where one spouse is working a second job in order to make up for the other&#8217;s nonexistent wages.</p>
<p> </p>
<p>Just when we couldn&#8217;t take much more from the incompetent corporations &#8211; bankers, investors, insurers, and the entire American automotive industry &#8211; powerful individuals abused our trust and took us for a ride, or tried to. The Madoff hedge fund Ponzi scheme on Wall Street has devastated personal fortunes and wiped out foundations, and so far it has caused one highly publicized suicide.  Illinois Governor Rod Blagojevich, a politician who was elected on a platform of ending the culture of graft and corruption in his state&#8217;s politics, was found to be peddling Barack Obama&#8217;s Senate seat to the highest Democratic bidder.</p>
<p> </p>
<p>Don&#8217;t even get me started about the state of the environment.  Or wars in the Middle East, where the innocent continue to be killed or radicalized into becoming sympathetic to forces of chaos and terrorism.  Or whatever the hell is going on with Israel and the Palestinians.</p>
<p> </p>
<p>Could it get any worse?  Probably.  I&#8217;m not going to wax karmic about how we collectively have to pay for eight years of GW Bush, and we have already started.  I hope that&#8217;s not true.  I&#8217;ve already bummed myself out too much just writing all of this.</p>
<p> </p>
<p>Barack Obama and his team are going to face the toughest challenges that I can imagine on multiple fronts as soon as he is sworn into office in a few weeks.  The unprecedented grassroots call to action, the hope and excitement that buoyed him to victory earned us back some goodwill from the rest of the world that we&#8217;d lost since it first peaked just after 9/11.  But these empowering and optimistic feelings are not enough to keep Americans&#8217; fears at bay for even the first year of the Obama presidency.  I hope that Obama and his team are prepared to face the worst and show a new kind of American ingenuity to get us out of this mess.</p>
<p> </p>
<p>As I wrote holiday cards this month, I tried to get myself to write sentiments on the order of wishing my friends a happy, healthy, and prosperous new year.  I couldn&#8217;t get past the health.  Writing anything about prosperity seemed like the lies you tell a hospice patient.  What I really wanted to say was that I hope you and the people you care about persevere, and that I still try to believe that what doesn&#8217;t kill us makes us stronger.</p>
<p> </p>
<p>Happy New Year.  May 2009 bring you strength and patience you didn&#8217;t know you had in you.</p>
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