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Media company helping workers buy cars - what do you think?

Allbritton Communications Co., owner of WJLA, News Channel 8 and Politico, has its own economic stimulus plan.

It is giving its employees money to buy a new or used car.

The Arlington-based media company will give any employee $2,000 toward the purchase of a new car or truck and $1,000 toward the purchase of a used vehicle.

Link to the whole article: http://www.bizjournals.com/washington/stories/2009/03/09/daily58.html

 
gdiamante

Asked by gdiamante at 5:31 PM on Mar. 12, 2009 in Politics & Current Events

Level 37 (95,167 Credits)
This question is closed.
Answers (7)
  • I think as far as corporate incentives go, this is a great way to get people to stimulate. But Quinn is right. The taxes alone will be about all it can cover...The problem, however isn't so much the spending, it's the ability to get credit. Credit Mkt has really tightened up for even some with great credit scores.. 3 years ago, someone with "sketchy credit scores" could buy a new Lexus. Today? They can barely get a Chevy Malibu. But if it works.. Good on 'em. If I bought a used $10,000 car in my town the taxes would be around $750. So, that would leave me with $250 to put down and a loan of $9750. But what does $10,000 buy? Would it be better to save the $250 for future repairs? Decisions Decisions? If I bought a 25,000 new car, taxes would be around $1900... hrmmmmmm
    grlygrlz2

    Answer by grlygrlz2 at 6:00 PM on Mar. 12, 2009

  • I think in some states that this amount won't even cover sales tax, licensing fees, delivery fees, etc. But it is nice that they are willing to give incentives to spend money. I think that with everything that is going on, people are not as willing to part with their savings.

    QuinnMae

    Answer by QuinnMae at 5:36 PM on Mar. 12, 2009

  • Are they not a private business? If so, i don't really care what they do with their own money.
    momjoy1027

    Answer by momjoy1027 at 5:37 PM on Mar. 12, 2009

  • Agree with Quinn
    tnmomofive

    Answer by tnmomofive at 5:53 PM on Mar. 12, 2009

  • well, it would be a great incentive, and a very nice gester, they also mention that his business is struggling and laying off as well.. so at the cost of possibly helping out an employee, he is possibly loosing another...

    so IMO, i think he's trying to save face at this point.
    xxhazeldovexx

    Answer by xxhazeldovexx at 12:40 AM on Mar. 13, 2009

  • "Are they not a private business? If so, i don't really care what they do with their own money. "

    Granted. I just think it's a very interesting move. Auto dealers account for as much as 40% of a broadcast station's advertising revenue.
    gdiamante

    Answer by gdiamante at 1:22 AM on Mar. 13, 2009

  • They are liberal - just trying to bail themselves out.
    Scorpio359

    Answer by Scorpio359 at 2:08 AM on Mar. 16, 2009