HOME    WORLD    U.S.    POLITICS    CRIME    ENTERTAINMENT    HEALTH    TECH    TRAVEL    LIVING
October 1, 2009
Financial Dispatch: ‘Clunkers’ hangover hits car dealers
Posted: 03:28 PM ET
Share this on:
Share | Permalink | 2 Comments

Andrew Torgan
CNN Financial News Producer

Ford Motor says auto sales fell 5.1% in September from the same month last year, breaking a two-month streak of gains and illustrating the hangover many dealers are suffering through in the wake of this summer's popular “Cash for Clunkers” program.

Rival General Motors reported a 45% drop in sales. Chrysler Group, meantime, said September sales fell 42% from a year earlier.

On a month-to-month comparison, sales at both Ford and GM fell 37% from August. Two of Ford's vehicles - the Focus and Escape - were among the top sellers in the “Clunkers” program.

Chrysler’s sales fell 33% from August, but since the company has a heavier reliance on trucks than its rivals, it did not get much of a sales lift from the rebate program.

Ford was the only member of Detroit’s so-called “Big Three” automakers that did not declare bankruptcy this year or receive any government bailout money.

Keep reading

2 Comments
More about: Andrew Torgan •  Cash for Clunkers •  Finance •  General Motors •  Housing Market
September 1, 2009
Financial Dispatch: Arrest in ID theft that hit Fed chief
Posted: 03:37 PM ET
Share this on:
Share | Permalink | 5 Comments
Fed Chairman Ben Bernanke acknowledged the identity theft involving his family.
Fed Chairman Ben Bernanke acknowledged the identity theft involving his family.

Andrew Torgan
CNN Financial News Producer

Federal agents have nabbed a woman allegedly involved in a sophisticated identity-theft ring that claimed Fed Chairman Ben Bernanke among its victims, authorities said today.

Shona Michelle Young was arrested at the Airport Villas near Miami International Airport on Monday, said spokesman Barry Golden of the U.S. Marshal's office for the southern district of Florida.

Young is said to be a major check-casher for the identity theft ring, which stole the purse of Fed Chairman Ben Bernanke's wife, Anna, last summer.

Keep reading

5 Comments
More about: Andrew Torgan •  Cash for Clunkers •  Finance •  Housing Market

subscribe RSS Icon
About this blog

A behind the scenes look at “Anderson Cooper 360°” and the stories it covers, written by Anderson Cooper, the AC360° staff and a network of contributors. Insight you can’t find anywhere else.

We search the news each day to show you what’s on our radar and what we’re planning for the show each night.

For more details, read our tips on how to win 360° approval for comments.

Send your instant feedback to Anderson Cooper 360°.

Featured Contributors
Candy Crowley
Candy Crowley is CNN's senior political correspondent and an AC360° contributor
David Gergen
David Gergen is CNN's senior political analyst and former presidential advisor
Roland S. Martin
Roland S. Martin is a nationally award-winning journalist and AC360° contributor
CNN Comment Policy: CNN encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give CNN the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNN Privacy Statement.
Home  |  World  |  U.S.  |  Politics  |  Justice  |  Entertainment  |  Health  |  Tech  |  Travel  |  Opinion  |  Living  |  Business  |  Sports  |  Time.com
Podcasts  |  Blogs  |  CNN Mobile  |  Preferences  |  Email Alerts  |  CNN Radio  |  CNN Shop  |  Site Map
© 2009 Cable News Network LP, LLLP. A Time Warner Company. All Rights Reserved.
Powered by WordPress.com VIP