Saturday, March 6, 2010

Would You Finance a Used Car With This Guy?

Forgive us if we are feeling slightly prophetic, but on February 22, 2010, we ran the story, "Would You Buy a Used Car from This Guy?"  It only took Jacques two weeks to get there.  In his mayoral briefing on Wednesday, March 3, 2010, Jacques unveiled his grand rebate plan.  He likened it to auto financing.  Here is Jacques direct quote:
 "Nothing down and zero percent interest or a big ole rebate!" 
Rebate of what exactly?  What is there to rebate?  We ask this question.  What do you do if you need $70 worth of groceries, but you only have $50?  Maybe you clip enough coupons that you can buy the $70 of groceries with the $50 you have.  Do you have any money left?  No, you don't.  But what if you have a credit card?  Oh, you can have all sorts of fun.  You don't even need to worry about coupons.  The problem is that you eventually have to pay back your credit card bill.  With interest.

So Jacques wants you to think you are getting a rebate today, but he doesn't mention that you will be paying yourself for the rebate.  How is it a rebate if you have to pay it back?  Jacques thinks we are too stupid to understand this.

There is no cash in the Cleco settlement.  Jacques wants us to believe that there are $50.7 million of "savings".  OK, Jacques, guarantee us that Alexandria will have the lowest utility rates in the state, and we'll back your auto financing rebate scam.  But you won't guarantee it, will you?