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I am an equity analyst with a general focus. I write daily for http://alphaninja.blogspot.com.
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  • The anti-mechanic act of 2009  0 comments
    Aug 4, 2009 02:45 PM | about stocks: ORLY, AZO
    That's what Cash for Clunkers might as well be called.

     Here's the five day performance of Autozone(AZO) and O'Reilly Automotive (ORLY) versus the general market -->> they're trailing by over 5% as the government has decided to literally destroy their business.



     
    I wasn't embellishing by saying "destroy their business" -->> auto dealers are required to destroy the engines of the trade-ins. Put aside concerns over the impact this will have on people who can only afford used cars (less supply will mean higher prices). Put aside concerns over taking $4500 from one group of people and handing it to someone else for a discretionary purchase. Even put aside the insanity of doing this for environmental reasons (go through the process of creating a new automobile versus keeping one that has already been produced?).
     
    Isn't there just something sick about the government using our own money to encourage the destruction of a useful product? This just saddens me:

     http://www.youtube.com/watch?v=waj2KrKYTZo&feature=PlayList&p=FEAC2AC1708B4D61&index=0&playnext=1
    Stocks: ORLY, AZO
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