Auto Cars

Monday, March 9, 2009

Bailed-Out Bankers Still Prefer Cushy Car Service

Paste Linke for a very good video on the recession and black car service. http://www.nbcnewyork.com/news/business/Who_Foots_the_Bill_for_Wall_Street_Bankers__New_York.html

Four of the largest American banks received a total of $75 billion in the recent federal bailout, so it's safe to assume they're limiting some of their luxury expenses.
You'd assume otherwise if you spent Thursday in front of the offices of Bank of America, JP Morgan Chase, Morgan Stanley and Goldman Sachs. If you'd have done that, you'd have seen suit after suit hopping into black car after black car, hustling off into the evening.

From Battery Park City to Midtown, the locations may have been different, but the scenes were similar. Buses and yellow cabs passed on by as fancier, roomier, more expensive modes of transport were snapped up by bankers in need of a ride to presumably a nice restaurant or a house in the suburbs.

Drivers told News4 that some of the rides were round-trip to and from bars or restaurants, others out to Westchester or Fairfield County at the end of another long day.

"It's not even cool, man," one taxpayer told News4. "They need to get me one."

A train to towns like Greenwich, Scarsdale or Garden City shouldn't cost more than $10, but the nicer cars to the same locations command a fare closer to $90.

Morgan Stanley issued a statement that said employees "are only permitted to use black cars for travel with clients or to client-related events, or if employees work past 9 p.m. in the office."
New Jersey Sen. Robert Menendez said the banks might want to re-evaluate certain practices.

"When you have the taxpayers' money ... at the end of the day, you have to look at your entire operation and say, 'I need to be ... more responsible,'" he said.

Friday, March 6, 2009

2009 BMW 7 Series

The new 2009 BMW 7 Series does away with some of the more controversial features in the name of a cleaner, more streamlined design. The total package is more appealing to the eye, and speaks "German luxury" rather than "controversy." The upgrades to the 2009 BMW 7 Series do not stop at the surface, though. The top of the line 750i and 750Li models get a revised version of the excellent BMW V8 from the German sports car company's X6 Series. New also to the 2009 7 Series is an option for the excellent twin turbo inline 6 motor found in the 335i and 535i BMW models. This well-engineered engine offers decent fuel economy for a large German luxury car, while still providing great performance with upwards of 300 horsepower on tap.

Those luxury car types who passed on the last generation of BMW 7 Series luxury sedans may want to give the 2009 7 Series another look. Inside is a host of new technology, including a night vision system featuring what BMW calls pedestrian recognition technology, whatever that means. Some of the headaches of previous iDrive Navigation/Infotainment systems are supposed to have been worked out as well. Look for the 740i and 750i models at the end of 2008 coming as 2009 BMW models. The 12-cylinder 760Li flagship model will return later in 2009, as well.