Away from my usual post at the nation's capitol, I'm here today at the English Motoring Ltd. dealership on Long Island. The good news is deposits on Bentley's 2010 Continental series are breaking all records.
In particular, orders for the convertible model are out pacing the coupe two to one; which sales associates at English Motoring attribute to their clients' appreciation of global warming, in spite of record low temperatures and ongoing episodes of snow and freezing rains. A brighter day is just around the corner.
The upturn in car sales here seems to be driven by the government's efforts and future plans to stimulate the economy. In particular, the Wall Street bailout and more than $18 billion in resulting bonuses to executives and associates at otherwise bankrupt investment banks and brokerage firms really has provided the silver lining needed to restore confidence. The system is still working.
"Continuation of the Bush era tax cuts, and the prospect of new breaks and subsidies for the fortunate at the top of the pyramid, have not just put a twinkle in the eye again, but thankfully some sparkle on the ears and fingers," according to Jon Fraberg at Goldstein's Jewelers.
At Barrons, the upscale martini bar about a block from English Motoring, I stopped one of the regulars, Clifton Chase Morgan-Stanley Jr. on his way to the restroom and asked what he saw for the future. "There's nothing wrong with the financial system that Treasury can't fix if they just remember who sent them there. Trickle down economics is the mainstay of our economy. Excuse me. I've got to do my part."
Back at the dealership, Shirley Gottrachs told this reporter that if it hadn't been for the bailout, not only would they have been unable to afford to replace their two year old Bentley Cornice, they were facing laying off a maid and the butler at their Hampton's weekend retreat. “We were ready to make the sacrifice. But with the reduction in servants, we truly were beginning to appreciate just how dire our nation's predicament was becoming.”
Another customer, Bradley Gottmien III and his wife Buffie just purchased identical Austin Mini-Coopers for their twin sixteen year olds. “We wanted to instill a sense of environmental responsibility in the twins, and introduce them to this era of making do with less. No Jaguars for our boys.”
So in spite of disconcerting reports of economic difficulties for some, parts of the economy are getting back on track. While the poor may be getting poorer, the good news is the rich are again getting richer.
May B. Fine; Assoc. Editor, The New Standard
