Where Do Hospitals Get the Money in Order to Purchase Hospital Equipment?

There are several sources in which hospitals have in order to purchase the hospital equipment that they need in order to run their hospital and give their patients the most efficient and up-to-date care. Hospitals make their money and stay open due to federal and state government allocations, legislatures, insurance companies, individuals who make donations, and other employers. All of these entities contribute to the funding of the hospital and is taken care of by the hospital administrators who try to make the best and most efficient choices for the hospital itself.

Hospitals get their main source of income from the contributions and donations from companies and individual resources. They either get these monies in the form of checks or in hospital equipment or in other types of transactions. Most of these processes are very complicated in order to explain but there are several websites on the internet that explains the processes more in depth in order to get the understanding about how the whole process works. Their other main source of income is through the patients that they treat but this also can be very complicated due to the fact that there has to be a balance between the insured patients and the uninsured patients.

The more procedures that a hospital will incur will get them more money from the insurance companies while different procedures will be more lucrative than other procedures. It also even depends on the types of insurance plans that the patients have because some insurance companies pay more than others do. All of these factors have to watched and calculated in order for the hospital to have the money in their accounts in order to purchase needed hospital equipment and supplies for the hospital. Hospitals can go out of business if there are too many patients that come through their door without insurance or without a way to pay.

The general public needs to understand that the reason hospital costs are usually so high is due to the simple fact of the cost that it takes in order to run the hospital and the cost that it takes to get the patients the best and most up-to-date hospital equipment on the market today. They could be making a lot of money from their donations, insurance money and the government, but if the uninsured services and non-payment services rise about the money that they are getting, it could force the hospital into closing their doors.

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Hospital Characteristics That Make It The Best

Healthcare organizations of today focus on quality, cost and reliability of their services. These are the pillars on which these organizations redefine the way they do business. This ultimately leads to happy customers. After all, patient experiences at your hospital matter the most.

In order to provide patients with the best in class care, a hospital needs have the following:

Focused and dedicated leadership

It is a known fact that most successful organizations have a highly focused leadership. Not only the strategy is important, but also the people who can execute it to success. Leadership demands accountability. Especially in the healthcare sector, the role of leadership is very important for the success of a hospital.

Coordinated care

This is a very important factor affecting the success of a hospital. The best hospital will have coordinated care throughout the continuum of care beginning from outpatient office visits to inpatient stays and post acute rehabilitation.

Core Services

It is important to understand that not all hospitals offer all services. Some hospitals focus on certain core services and provide exemplary services in only those areas. These services are high quality, low cost and highly reliable. So, if you are looking for specialists in certain areas of expertise, you can look for Hospitals providing those core services. Like there are Heart Hospitals that specialize in all kinds of heart ailments, cancer care hospitals that provide only cancer related treatments etc. Well, there are other multispecialty hospitals that provide exemplary services too. So, before you decide, look for the best hospitals and research which one will suit you the best.

Openness to technology

Technology makes complicated things easy. Even in the healthcare domain, with the advent of robotic surgeries and other technologically advanced procedures, success rates for surgeries and other treatments have dramatically increased. Hospitals should never neglect the power of technology for the success of their treatments. Sophisticated care with advanced technology enables the hospital to operate more efficiently and improves productivity.

Efficiency

The efficiency of each and every department in the hospital contributes to the success of the hospital as a whole. If the administrative staff is negligent, or the support staff fails to perform, it affects the overall impression of the hospital. It is hence important that each and every individual contribute to the success of the hospital.

Transparency in pricing

If the pricing is transparent, the hospital is perceived as trustworthy. If there are a lot of hidden costs involved, it creates an element of unpleasant surprise and ultimately puts the hospital in the bad books. So, if you are looking for the best hospital, look for one that gives you their pricing as transparently as possible.

Some of the best hospitals focus on overall management as well as expertise of the staff onboard. So, if you are looking for a hospital for some treatment, check out the expertise of the doctors and surgeons as well as take a look at the overall proficiency of their staff.

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The Best Hospitals in Quito, Ecuador

Quito is the capital city of Ecuador and also the second most populous city after Guayaquil. Quito was the first world cultural heritage site declared by UNESCO, so named due to the well-preserved monasteries founded by the Catholic missionaries that came from Spain in the 16th century. The city is blessed with a fairly constant cool climate is a favorite tourist destination due its beautiful mountain scenery.

The health care sector in Quito is in a developing phase and has many good hospitals in both public and private sectors. Some of the major hospitals in the country are located here.

This is a description of some of the better hospitals in Quito.

Hospital Metropolitano is the most well-known hospital in Ecuador. It is located at Av. Mariana de Jess s/n y Nicols Arteta, Quito. A group of eminent doctors founded this international hospital in 1985 with the technical help from AMI, American Medical International. It is now an ISO 9001:2000 certified hospital implementing the Integral system of Quality (SGIC) and the modern Intelligent Operating Room, OR1 system. The hospital has earned the collaboration of many highly regarded medical centers including the Cleveland Clinic, the Mayo Clinic, the University of Texas and Mount Sinai Hospital.

The surgery department has 13 operating rooms and is well known for performing the most difficult surgeries including open heart, spine and brain surgery as well as bone marrow transplants. The hospital has well-equipped units in imaging, electro diagnosis, hemodialysis, nuclear medicine and electromyography.

The hospital recognized for its technological edge with sophisticated devices including 64 multislice CT scanner, neuro-endoscope, interventional radiology, three-dimensional color Doppler, MRI, Electrocardiogram – EKG, Holter-EKG and ergometers. The emergency department of Metropolitano Hospital is equipped with 19 stalls of care, 15 for adults and 4 for children. The Intensive care units are spacious and have facilities including ventilators, central monitoring, oxygen and vacuum networks and various specialized equipment. Tel: 399 8000

On Desarrollo Comunidad, Villa Lengua 267, Casilla 691 you will find Hospital Voz Andes (HVA), a missionary general hospital. HVA is directed by the HCJB Global Hands, a recognized NGO that has two leading hospitals in Ecuador. The hospital, founded in 1955, has 104 beds and departments in all specialties of medicine and surgery. It is a preferred choice for family practice, trauma care, ophthalmology and surgery. The surgery department has well equipped theaters for general surgery, cardiothoracic surgery, maxillary/facial surgery, pediatric surgery and plastic surgery. In addition the hospital runs special clinics for palliative care, physical, occupational and speech therapy, head and neck care as well as mental health. The 24/7 emergency department of Hospital Voz Andes has 20 beds and two ambulances and well-equipped intensive care units for trauma. Telephone: 241540

Hospital Carlos Andrade Marn situated at Av.18 de Septiembre 3220 y Ayacucho is another reliable hospital in Quito. It offers good medical care at a reasonable cost to its members. This health care facility is managed by the Ecuadorian Institute of Social Security (IESS), a charitable organization. The hospital offers excellent medical service in 14 departments including gynecology, pediatrics, cardiology, surgery, neurology and rehabilitation. Hospital Carlos Andrade Marn has well equipped units in hemodynamics, pathology, nuclear medicine, radiology and laboratory service. The emergency room has all necessary facilities to meet any urgency. Hospital Andrade Marn is also a center for medical education, research and training. It has agreements with universities in Ecuador and abroad and conducts various undergraduate and post graduate courses. Tel: 256 4939

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The Best Hospitals in Dongguan, China

Dongguan is located in the Pearl River Delta and is a major city in China. With four districts, this metropolis has become an international industrial and major economic center, attracting enormous foreign-direct investment. This city has a pleasant climate and is known for its long coastline and seafood varieties.

Taking a look at the city’s health care facilities, it is obvious that its enterprising spirit is not limited to industrial and economic development. Although the city has many well-equipped hospitals, only some major medical centers can provide services with English-speaking staff. The following is a description of two leading hospitals.

Dongguan City People’s Hospital (Red Hospital) located at 88 Tong sand in Wan Cheng Bei Yu, came into existence in 1888 as the Chinese Rhenish Church Lifeline Hospital and has witnessed several name changes before receiving its present name in 1988. Investors poured a large amount of capital for the hospital’s modernization. As a result, this medical center has become the largest integrated health care facility in the region. This-patient centered hospital is situated in a lovely area, embellished with beautiful gardens and immaculate lawns. It employs a large, competent staff; includes 1500 beds for inpatients and provides contemporary and holistic quality-health care in all medical specialties. Dongguan City People’s Hospital has achieved the prestigious three, A-level rating by the Health Ministry, as well as the provincial honors of Civilized Hospital Award and the Advanced Unit of Health Award.

Their outpatient department, established in 1930, is well organized and has special acupuncture, massage, and ECG treatment rooms. The surgery division has well-equipped units assisting many specialties. There are 15 advanced operating rooms featuring laminar flow and imported instruments, all manufactured by global companies. The center is particularly well known for various transplantations, advanced cardiac surgery, laparoscopy, arthroscopy and hysteroscopy. Its advanced emergency department features emergency surgery, observation room, pediatric unit, infusion area, various emergency tests, first aid services and state-of-the-art equipment. Managed by 50 experienced professionals, this department is available 24-hours a day. Other acclaimed departments utilizing advanced medical equipment, include ICU, radiology and ultrasound. Telephone: 22223412.

Global Doctor Dongguan Clinic is another preferred hospital for foreign dignitaries and visitors. This clinic resides at No. 30 IEO International Block in Dynatown. Established in 2005, and owned by Global Doctor, the acclaimed global health care and emergency assistance provider, this medical facility offers comprehensive medical service in all major specialties including family medicine, dentistry and acupuncture. It employs experienced, foreign doctors and English-speaking staff. Medical consultations are available in various languages like English, German, Spanish and Portuguese.

The center also offers round-the-clock medical advice, house call services, antenatal and postnatal care and also conducts many occupational health and annual medical programs. The Dongguan Clinic offers good surgical services in all major areas and provides pharmaceutical, laboratory and x-ray assistance. It offers excellent emergency services through the Global Doctor Beijing Response Center and offers referrals, medical evacuations and repatriation. This hospital also has associations with international insurance companies and is a member of the renowned International Assistance Group (IAG). Telelphone: 22030011.

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Buenos Aires, Argentina’s Best Hospitals

The city of Buenos Aires has a multiplicity of functions. It is the site of a very large port and holds much economic and businesses significance for the country of Argentina. Buenos Aires is also the capital of Argentina and as such is the cultural center of the country. Lastly, Buenos Aires is considered an autonomous area within the country. This port city is the financial, industrial and cultural center of the country and has many tourist attractions.

In general the health care sector in Buenos Aires is well developed with many good hospitals in both public and private sectors. Some of these hospitals, particularly the private hospitals, offer medical care compatible with international standards. These well equipped hospitals have agreements with all major health insurance companies.

The Buenos Aires German hospital (Hospital Alemán) located at Av. Pueyrredón 1640 (C1118 AAT) Buenos Aires is a modern hospital that offers high quality medical services at global standards. The hospital was established in 1867 by a reputable organization from the German community in Argentina. This hospital features the latest technological advances. It is equipped with 240 beds, 11operating theaters, coronary unit and modern ICUs for adults and children. The hospital offers premier medical care in all specialties of medicine, surgery, transplants, and oncology. The German hospital’s Centre of Excellence for the assistance of Burns (CEPAQ) is a world famous center for the treatment of severe burns. Its surgery department is well equipped to perform complex surgeries. The hospital has a 24 hours emergency center equipped with a respirator, a defibrillator, a pacemaker, laryngoscopes and endotracheal tubes. This sector has doctors’ offices, boxes, an observation unit and a shock room. The hospital’s image diagnosis department is demonstrates its modernity with units in nuclear medicine, magnetic resonance, radiology, computed tomography, ultra sound and breast imaging. Hospital Alemán has ISO 9001:2000 certified laboratory service featuring a genetics lab, an investigational medicine lab and a central lab. This is a favorite hospital among visiting communities. Contact Phone: (54-11) 4827-7000

Hospital Italiano de Buenos Aires located at Gascón 450, C1181ACH, Ciudad de Buenos Aires is one of the leading private hospitals in the city. This enormous hospital with an area of 78,000 m² has 600 beds and offers effective health care to about 3,000 patients every month by employing 900 medical personnel. This modern hospital, founded in 1853, has established its own health insurance plan. The hospital has well equipped departments in diagnosis and treatment, medicine, paediatrics, gynaecology, orthopaedics and urology. In addition the hospital offers services in ophthalmology, otorhinolaryngology, regenerative therapy and pancreas, liver and lung transplantation. The surgery department of Hospital Italiano is one of the bests in the country and is a world renowned center for the “Da -Vinci Surgical System”: the most advanced, computer-assisted minimal invasive surgery. All modern facilities in pathology, endocrinology, hemodynamics, nuclear medicine, transfusion medicine and radiant oncology are available here. The imaging services of the hospital have the most modern equipment. Phone: 4959-0200

Hospital Británico de Buenos Aires located at Perdriel 74 – CP 1280AEB – Ciudad Autónoma De Buenos Aires is one of the most well reputed modern hospitals in the country. This hospital of more than 30,000 m2 area contains 99 outpatient rooms and 37 practice rooms to offer the best medical service in all major areas of medicine. Hospital Británico’s surgical section is equipped with separate adult and pediatric surgical inpatient clinical area. It has seven general operating rooms, a laminar flow operating room, three rooms for ambulatory surgery and a cath lab. The hospital’s famous bone marrow transplant unit has four sections. The diagnostic imaging section of Hospital Británico has modern facilities including two CT rooms, two MRI rooms, five rooms for ultrasound, and mammography and radiology units. Additionally, the hospital offers excellent services in laboratory examinations, dialysis, nuclear medicine, pharmacy and endoscopy. The hospital has 24 hour emergency services and well equipped ICUs. Hospital Británico offers fine accommodations in 98 single rooms and 35 two-bedded rooms. Hospital Británico is also a renowned center for medical education and research. Tel: 4309 – 6400

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Sacred Heart Memorial Hospital Diet – A Review

The Sacred Heart Memorial Hospital Diet (also known as the Sacred Heart Diet) is another of those diets which, like the Tuna Fish Diet, is attributed to hospital staff who were attempting to reduce the weight of a cardiac patient by some 10 lbs. It has been around since at least the 1980’s and takes the form of a vegetable soup which is consumed, along with a few other foods, over a period of seven days.

Intending users should be aware that the origin of this plan is uncertain. Hospitals have denied being the source, as have other institutions that have been nominated as likely creators, including the American Heart Association.

Nonetheless, the diet continues to be circulated and has adherents who are happy to use it, along with others who were skeptical or did not find it useful. This soup diet is also known as the Cleveland Clinic Diet, the Cabbage Soup Diet, and the Spokane Heart Diet. I have found reports from users who state that they were introduced to it by their medical practitioner.

The dieter is expected to eat the soup at least once a day and, at various times, meats, rice, vegetables and fruit may be included in the eating plan. Excluded are bread and alcohol. Included are Chicken Noodle Soup, stewed tomatoes, beef broth, celery and more. The only drinks permitted are water, black coffee, cranberry juice (unsweetened) and skimmed milk. A detailed outline of this plan can be found with a quick search for my article “Sacred Heart Memorial Hospital Diet – Recipe and Diet Plan”.

EFFECTS:

1. The Sacred Heart Memorial Hospital Diet is essentially a low calorie, short term diet, with the difficulties typical of such a plan, such as dizziness, lack of energy, occasional diarrhea and sometimes fainting.

2. Short term weight loss is often water loss rather than fat loss and is easily regained once the diet has ended.

3. The body tends to conserve energy and fat reserves with low calorie diets. This makes it harder for lasting weight loss to occur.

4. There are reports of significant amounts of weight reduction but the feelings of hunger and discomfort caused by this diet plan make it likely the user will eat excessively after the seven days of restricted eating. Thus the amount of weight that has been lost will soon be regained.

5. A change in eating habits is not required except for the seven day period of the diet. This means that the benefits are unlikely to continue as returning to the same conditions as before will soon restore whatever has been lost.

To obtain lasting weight loss requires, in effect, a change of lifestyle – a different selection of foods as part of the normal diet rather than a crash program that adds stress to the body and provides only short term benefits. Such a plan would include food that has high nutritional value and suits the tastes and preferences of the dieter. As well, a significant portion of the weight that has been lost should be fat loss and not merely water which is easily replaced. Unfortunately, the Sacred Heart Memorial Hospital Diet does not meet these requirements.

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Protective Film For Cars and Automobiles

For those people who absolutely love their cars, protecting the paint becomes an obsession. Years ago, the promise of perpetually perfect paint was introduced with the invention of clear coat paint protection. Clear coat was definitely an improvement and offered great protection against sun damage and oxidation, but it fell far short when it came to physical protection from road debris and scratches.

To protect against road debris, a couple of inventions came about. One was referred to as a car bra. This was basically a polyurethane cover that fitted over a car's front end and protected the most vulnerable part of the vehicle from flying gravel and bugs. This helped, but there were two main problems. It did not protect the entire vehicle, and it was absolutely atrocious to look at. The other attempt was something called a bug shield. This was a small plastic piece that attached to the front of the vehicle and re-directed the air currents up and over the vehicle. Though somewhat effective in protecting the front end of the vehicle from flying debris and bugs, it did nothing to protect a stationary car from scratches. And, who would want one of those on their $ 70,000 corvette?

The next evolution in paint protection is commonly called paint protection film, though individual companies refer to it by various names. This is a thin, thermoplastic urethane material that adheres to the vehicle's paint and protects it from all types of minor damage. It can be applied to the entire vehicle, giving overall protection, unlike the other devices.

The paint protection film is applied in a similar fashion to window tinting film. Anyone who has attempted a do-it-yourself window tinting job understands how difficult the job can be. Though not impossible for amateurs to do, if one expects perfect results the job is best left to professionals.

These days it is easy to find professional paint protection film installers across the country. Nearly all automotive paint shops offer this service for a reasonable price and many offer package deals with the purchase of a new paint job.

There are a couple of important reasons why professionally installed clear paint protection film is the best option. First, the professionals have the proper facilities. Before installing the film, the car must be spotlessly cleaned and must stay that way until the film is applied. The pros have clean, dust-free bays where they can do the work. The average amateur's garage is somewhat less than a dust free environment. The second reason is the fitting of the film. Applying the film to curved surfaces offers a challenge requiring more than simple straight cuts. It takes time to perfect this technique and the average Joe will likely need several tries to get it right. It's best to save the time and let the pros handle it.

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Satellite TV For Automobiles

Entertainment service in automobiles is getting important new players. AT&T has revealed plans for a satellite TV service called Cruisecast. And MediaFlo, a subsidiary of Qualcomm, a wireless telecommunications company (San Diego, CA.), is introducing a competing system called FLO TV, that is based on cell phone technology from AudioVox. The U.S. switch to digital TV will free Rf spectrum for the delivery of advanced wireless services such as FLO TV.

Current players in the automotive TV market include Sirius XM’s Backseat TV (also an AudioVox partner), an optional service from Sirius XM which offers limited video programming featuring Nickelodeon, Disney Channel and Cartoon Network combined with the standard audio programming. However, the quality of the Backseat TV system has been a disappointment. At its best, the picture is poor, and sometimes it is worse than poor.

Sirius XM currently has more than 19 million subscribers, and its adoption rate also has outpaced that of the wireless and satellite television industries. But the rate of growth has slowed in recent years. Sirius XM gained about 10 percent more subscribers last year, compared to 27 percent growth in 2007 and 48 percent growth in 2006. Sirius XM is currently battling financial problems, holding more about $1 billion in debt ($559 million of the debt matures this year).

  • The business model for all of these services is to provide pay-for-service entertainment, analogous to the business model for premium cable television. In the United States, more than 90% of homes pay for television service, but less than 20% pay for entertainment in automobiles.
  • The AT&T Cruisecast system will cost about $1300 for the hardware, and $28 per month for the satellite subscription. The hardware requires installation of a small satellite antenna on the roof of the vehicle. At the price of the hardware, a security system should probably be included. The size of the antenna is approximately 10″ X 11″, and 4″ in height. The technology is sophisticated enough to buffer the signal for interruptions. If you temporarily lose the signal by going under a tree, overpass, or tunnel, for a period of up to 3 minutes, the service will not be interrupted. The picture is standard definition TV, not HDTV.

    AT&T is partnering in the effort with RaySat Incorporated (Dallas, TX). RaySat has previously offered a similar system called TracVision that worked with DirecTV. The hardware for this system was even more expensive, costing about $3000. The antenna was significantly larger, and the system did not include the buffering feature.

    Cruisecast system satellite technology is based on Ku band transmission, with a bandwidth of 500-600 kilobits per second. The antenna needs exposure to the southern sky to receive the signal. The antenna is receiving a signal from a satellite in geostationary orbit over the equator. There is an electronics module that interfaces between the antenna and the monitors. This module can go in the trunk, or under a seat. It is comparable to the set-top box for cable TV. A remote control included for changing channels on the electronics module via an Rf signal, so that line-of-sight is not needed.

    Don’t look for Howard Stern on the Cruisecast lineup. Instead AT&T will focus on family entertainment, including the Disney Channel, Discovery Kids, The Animal Planet, Nickelodeon, The Cartoon Network Mobile, and Comedy Central. In addition, news channels from MSNBC, CNN Mobile Live and CNBC are planned. “Our target audience is families with children,” said RaySat CEO Yoel Gat. The Cruisecast lineup includes 22 video and 20 audio channels.

    Car rental companies Budget and Avis plan to offer the Cruisecast service at some locations for about $10 per day.

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    The History of German Automobiles

    In 1870, when Nikolaus Otto and his partner Karl Benz independently developed their internal combustion engines, which were four-stroke at the time, Germany was placed on the map as the birthplace of modern autos and the history of German Automobiles had begun. During the latter part of 1870, Karl Benz began experimenting with their engine design and some how ended up attaching it to a couch. This would forever be the genesis of today’s modern automobiles. And by 1901, the country of Germany produced roughly 900 autos per year.

    Robert A. Brady, an American economist, documented extensively Germanys rationalization movement which helped to mold their industry’s focus during the 1920s. While Bradys general theories about this movement were applicable to Germanys auto industry, the Weimar Republic in its latter years saw the industry in declining health. And because of Germany being extremely reticent when trying to develop its automotive industry, they opened the floodgates for American automobile manufacturers like General Motors who bought out German automaker Opel and Ford Motor Company who possessed a very successful subsidiary in Germany.

    However, the German automobile industry tumbled as the worlds economy folded during the late 1920s and early 1930s when the Great Depression raged on. This was a sad day indeed for the history of German automobiles. After the Great Depression had subsided, only twelve automakers in Germany survived. That small group included Opel, Fords Cologne factory and Daimler-Benz of out of an astonishing total of 86 automobile companies operating before the Depression. Also, four of Germanys top auto manufacturers-Dampf Kraft Wagen, Horch, Audi and Wanderer-came together in a joint venture to form the Auto Union. This Union would play a significant part to lead Germany back from their troubles with the depression.

    In 1930, when the Nazi Party came to power, a significant change came about for Germanys auto industry and for the history of German automobiles. Motorisierung, a policy instituted by the Nazi Party, was a policy about transportation that Adolf Hitler himself believed to be a key part of his attempt to raise his citizens living standards in order to make the Nazi Party seem more legitimate to them. The Nazis began work on highway schemes while at the same time undertaking the Volkswagen project in order to build and design the inexpensive yet robust peoples car.”

    As of today, Germanys auto industry is one of its top employers, featuring a total labor pool of roughly 866,000 workers. Additionally, the country boasts of having the biggest percentage of automobile production in all of Europe with a 29% share of the market, next is France with 18%, Spain with 13% and finally the United Kingdom with a 9% share of the market.

    There are currently six major German companies which are dominating the automobile industry there: BMW, Porsche, VW, Opel (General Motors owns them), Audi (part of the Volkswagen Group) and Daimler AG. Roughly six million new vehicles are produced each year in Germany whilst around 4.8 million vehicles are produced each year by German brands overseas. Along with the top two auto manufacturers Japan and the United States, the country of Germany is number three on the list of top auto manufacturers around the world.

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    Zero Zero Financing on Automobiles in Retrospect

    Some say that the automobile industry saved the economy during the last recession. This is because auto sales are bundled into retail sales, which allowed higher numbers than actual to be reported. Many will say that what is good for General Motors is good for America, they might even cite the fact that the automobile industry saved the economy at the bottom of the last recession.

    Remember when Mitsubishi did the Zero-Zero-Zero plan. This was a calculated risk and were betting on the election year gold rush to help pay for any of the fall-out in loans? Well that never came because the US interest rates stayed down, job recovery came late and Domestics along with those other foreign automobile companies did quite well. So what is happening now due to this decision to go 0-0-0, well many of those loans have gone South, and the Yen is high against the dollar and now Mitsubishi is about 2 billion in the hole at last count. The Mitsubishi bail-out cost at least $1.9 billion US Dollars. Many auto industry economic advisors had mixed opinions on this, but for the most part thought the plan for zero-zero-zero was foolish. Zero money down, Zero interest rates and zero payments until next year. This was in 2002 and today 45% of those cars have either been turned back in, repo’ed, sold at auction or are in default. All good things, which are not reality based do come to an end. Many knew there was going to be a problem as the sales winded down and we were being strung out on our payments from a few dealerships out there.

    Triple zero was not a win/win for the consumer, their credit or the company. Many of those vehicles were bought by first time buyers who never even made the first payment which started many months later, yet had put over 15,000 miles on those cars and reduced its value by over 65%, ouch, that is a nightmare from a banker perspective. No wonder Corporate America wanted bankruptcy reform, even though such a reckless lending of credit was a completely foolish business move.

    American consumers today are upside down in their high priced SUVs, they owe more than they are worth and those who bought gas-guzzlers in 2002 are still paying on vehicles, which are not running very well today. Most had paid sticker price or near to get the zero-zero and still others got a rebate, which was used for a down payment to make the deal. I met a gentleman who filled up his beautiful Suburban the other day. His total came to $97.00 and he was pretty depressed, I actually thought he was going to cry. We got to talking about his beautiful Venti sized SUV and he told me it cost $48,000 and had all the bells and whistles. I was impressed and asked him what he did for a living. He works for the local city and said he was able to afford it due to the zero zero program and he wanted to sell it now due to fuel costs as he is divorced and now single. He is thinking something more economical might be a better plan? Perhaps a hybrid? I guess I understand what he is saying. He explained he could not sell the vehicle because he still owes $39,440 on it and it is only worth $18,000 now. What a nice guy with a disaster of a brain for a financial planner, but alas he is not so much worse off than you, is he. Sixteen point nine million

    Americans bought new automobiles on the zero zero plan. Perhaps they did not plan on this; the $3.00 per gallon gas prices. Are you one of them? How does that make you feel? Think about it.

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