‘Cadillac’ Archives
Luxury Cars are Worth the Price
Luxury car sales have suffered more than sales of less expensive cars during this recession. That’s no surprise. People are watching their pocketbooks and spending less. Conspicuous consumption is out of vogue. Auto makers, too, are looking at their spending and cutting out less profitable brands, like Pontiac and Saturn. Why aren’t they [...]
Credit Crunch Starting to Uncrinkle?
Just as demand for big ticket items dropped like a rock, banks got scared and tightened their lending requirements, effectively closing the barn door after the horses had gotten out. I’m not saying that they didn’t need to rethink their lending practices – they did. They were making loans to people who couldn’t pay them back, especially in [...]
