mechanics car
no" to the blue collar auto workers in Detroit or the airline mechanics in Minneapolis. Thus we should anticipate a flood of similar bailout adventures.To over simplify, AIG employed a classic cash flow underwriting scheme. It undercut less sexy competitors to rake in premiums, which it then invested in an array of high yield mortgage securities. To the extent housing prices continued to sky rocket and homeowners paid their mortgages the scheme worked fine. For a period AIG's investment earnings more than offset the cumulative impact of its sloppy underwriting. However, when housing prices started to fall and homeowners began to forgo mortgage payments AIG's investment returns took a dive. Not long after, the write downs began. Soon all that was left of AIG was an illiquid investment portfolio and an illogical underwriting culture - not exactly a winning formula for an insurance company. When the market finally figured this out it turned on AIG's stock with a vengeance. Rumors abounded of a pending bankruptcy. Who knows how it might have all played out? Certainly an AIG bankruptcy would have spooked global markets. However, it would also have created some splendid opportunities for all those less sexy insurers to regain some business.Unfortunately, once the government stepped in, the whole matter became moot. Thus we'll never know how our financial system would have coped with this disruption. Presumably now the AIG party will continue - this time with taxpayer sponsorship. Strangely, that bastion of free market economics, The Wall Street Journal, characterized this transaction as a potentially lucrative one for the Feds. The theory goes if the housing market comes back AIG's liquidity problems go away, and the government emerges unscathed with 80% of the largest insurance company in the world. Excuse me? That's a gowashes or put any pressure on the surface. This not only looks unattractive on your vehicle, but it also obstructs your field of vision in extreme cases. Therefore, it is a good idea to get it replaced when you can. In some cases, you can get the windshield repaired instead of replaced. For example, if you have a few chips in the surface rather than cracks, you can usually just pay for auto glass repair, which is cheaper than complete replacement. In many cases, companies that offer this service can even come to your house or workplace to fix the issue. If companies near you do not offer this option, though, know that it usually does not take long to complete the process, so you can typically wait around instead of leaving your vehicle for days. In fact, some companies also offer other treatments so that you can get a few fixes done to your vehicle at the same time, such as oil changes and transmission flushes. Thus, it is often worth it to take your auto to such a business. Some drivers delay getting their windshield fixed or replaced because they do not think it is worth the money, or they just do not have the cash. Fortunately, most full-coverage insurance plans cover this option so that you can get it done for free. In fact, some companies even offer customers money or gift certificates to restaurants and stores for using their insurance to fix the issue, so look fo