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Last post 19 years ago by donutboy2000. 7 replies replies.
Buying an SUV soon? Keep your hand on your wallet.
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herfsnipe Offline
#1 Posted: Tue, Nov 30 2004, 6:53 AM EST
Joined: 07-28-2004
Posts: 3,315
I saw an interview on CNBC this morning with Dan Chung, the President of Fred Alger Management, an investment firm in New York dealing with mostly high rolling clientelle. He's leading the charge to lobby for a $1000 tax to be added to sales of SUV's not meeting certain energy guidelines. He calls the proposed tax in his words, "rewarding those who drive fuel efficient cars". I guess the reward is you don't have to pay the tax.

Anchor Liz Claman then questioned Chung about the holdings in his company's mutual fund offerings. They include stocks of companies who manufacture hybrid vehicles, and fuel cell technology companies. Chung stated that they have larger positions of such companies now than in the past. He then went on to say tha this is something that's good for "All Americans". Not only an energy saving measure, but a moral issue as well. He called it morally correct to want to save energy. Something I'm sure the President loves to hear.

All I can say folks, is keep your eye on this one and watch your wallets. Buy that SUV now. Below is the link to the PDF on the Fred Alger web site.

http://public.alger.com/Algerpub/docs/upload/msg/11123/Mkt%20Comm%20GENMER%20111604.pdf
pabloescabar Offline
#2 Posted: Tue, Nov 30 2004, 8:35 PM EST
Joined: 02-25-2005
Posts: 30,183
hey my truck get's 14-15 miles to the gal. where does that fall into.
MACS Offline
#3 Posted: Wed, Dec 1 2004, 6:52 AM EST
Joined: 02-26-2004
Posts: 79,943
Hey... I got a 1995 Nissan Hardbody Pickup that gets 20 mpg. My new G35 that said it got 18 city and 26 freeway does WORSE than the truck!!!

Um... course if i'd keep my foot off the floor it'd prolly do better. :-)
donutboy2000 Offline
#4 Posted: Sat, Dec 4 2004, 2:07 PM EST
Joined: 11-20-2001
Posts: 25,000
Alger lobbying for taxes on SUVs so their stocks in hybrids do better. It's the American way.

Kalifornia is looking at new ways to tax drivers as more fuel efficient cars have greatly reduced their take from gasoline taxes.
sketcha Offline
#5 Posted: Sat, Dec 4 2004, 3:35 PM EST
Joined: 03-26-2003
Posts: 3,238
I saw this joker. I'm all for better fuel economy, but to tax poor folk with grandfathered, used SUVs (like me and my used '96 4Runner) is just, flat BULL$HIT!!!
Cigarick Offline
#6 Posted: Sun, Dec 5 2004, 9:58 AM EST
Joined: 07-28-2002
Posts: 3,078
Like they care about fuel economy and the environment. All they want is more tax money. Most of the Senate (who get a $400-$500 per month vehicle stipend, thanks to us) drive SUV's!
rayder1 Offline
#7 Posted: Sun, Dec 5 2004, 10:31 AM EST
Joined: 06-02-2002
Posts: 2,226
I just assisted at an accident with a Toyota Prius and an El Camino. The entire right side of the Prius was pushed in to the driver's side (fortunately no-one was sitting there) the driver was really banged up. The floor board trapped his right foot against the brake pedal. This was about a 30 mph impact. Most cars would take this sort of impact well. The prius just caved in. Lost of plastic and aluminum.

I'll pay the frigging $1000 and pay for 12-15 mpg to keep myself and family alive in my SUV. There are a lot of people saying that SUV's are unsafe because they "cause" more damage. My advise is to not get hit by one or drive something safer. Our other car is a Volvo....that's about as safe as you can get in a small package.
donutboy2000 Offline
#8 Posted: Sun, Dec 5 2004, 8:55 PM EST
Joined: 11-20-2001
Posts: 25,000
SUVs are safer as long as they don't go bowling ball, but with their high center of gravity they often do.
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