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By Peter Wallsten

April 6, 2009

Reporting from Washington — With the White House positioned to reshape the future of the auto industry, Republican Sen. Bob Corker was so concerned about the prospects for his home state of Tennessee that he delivered a personal warning to the administration’s point man on the issue.

Don’t keep plants open in Ohio and Michigan, which voted for President Obama last year, at the expense of a plant in Tennessee, which is solidly Republican, he said.

“I wanted to know: Would they employ a blue-state, red-state strategy?” Corker said in an interview, recalling his phone conversation last week with Steven Rattner, the administration’s top advisor on restructuring the domestic auto industry.

The question illustrates the new dynamic as Obama tries to balance the economic need to salvage a struggling industry that employs hundreds of thousands of people, and affects millions, against the needs of key constituencies and possibly his own reelection hopes.

Like Corker, all sides are attempting to decode messages from the White House.

The administration has sent reassuring signals to the United Auto Workers, a staunch campaign supporter of Obama, amid fears that union members and retirees will be forced to sacrifice more benefits.

By contrast, bondholders who are owed money by General Motors Corp. say they are still waiting to see whether the White House will consider their needs.

Corker would not divulge how Rattner responded to his concerns, saying only that he believed the White House would “try to do the right thing.”

But he added that politics could prove unavoidable, given the president’s ties to the UAW and his election campaign’s reliance on auto-heavy states such as Ohio, Michigan and Indiana.

“The administration owns this now,” Corker said. “They’ve taken over a private company, and in essence you can imagine the kinds of pressures on them as they move ahead.”

Rattner did not respond to requests for an interview.

A White House official, requesting anonymity because of the sensitive nature of the negotiations, said the president and his auto task force were focused on solutions that would save the industry — not on political calculations that pale in comparison with the larger risks awaiting Obama if the auto industry were to collapse.

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Dodge has long been synonymous with hard working truck drivers who push their vehicles to the limit. The Dodge Ram has been a household name when it comes to utilitarian vehicles that have enough styling and features to be used as an everyday vehicle. This work horse has been redesigned by Dodge for the New Year, and the 2009 Dodge Rams have been causing a stir on the automotive scene.

If you’re one of the lucky ones who have gotten their hands on one of these trucks, then you know its rugged features paired with a stylish and roomy interior make it tough to beat in its class. It remains the gold standard for truck owners across the United States. Learn more about the 2009 Dodge Ram by visiting a Dodge dealership in Utah today.

Dodge realized the need for a truck that could appeal to a larger market than just the people who needed a high capacity, heavy duty truck. The 2009 Dodge Ram was designed with all types of drivers in mind, and you’ll see the difference first and foremost in the interior. With all the bells and whistles you’d expect to see in a luxury sedan, you might forget you’re inside a truck. Similarly, the 2009 Dodge Ram drives surprisingly like a roomy sedan, thanks to its new suspension that uses coil springs rather than the traditional leaf springs.

The 2009 Dodge Ram is a truck that thinks it’s a car. Go to a Dodge dealership in Utah today and see what all of the buzz is about.

By Thomas Lindstrøm

A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost.

So it’s wise to compare terms and fees before you agree to open a credit or charge card account. The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you’re shopping for a card.

If you don’t understand the language, credit card offers and statements could lead you to deep debt — or at least furious frustration. For the big scoop on the fine print, here’s what these frequently used credit card terms mean.

1.Average daily balance — This is the method by which most credit cards calculate your payment due. An average daily balance is determined by adding each day’s balance and then dividing that total by the number of days in a billing cycle. The average daily balance is then multiplied by a card’s monthly periodic rate, which is calculated by dividing the annual percentage rate by 12. A card with an annual rate of 18 percent would have a monthly periodic rate of 1.5 percent. If that card had a $500 average daily balance it would yield a monthly finance charge of $7.50.

2.APR(Annual percentage rate) — A yearly rate of interest that includes fees and costs paid to acquire the loan. Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans.

3.Balance transfer — The process of moving an unpaid credit card debt from one issuer to another. Card issuers sometimes offer teaser rates to encourage balance transfers coming in and balance-transfer fees to discourage them from going out.

4.Cash-advance fee — A charge by the bank for using credit cards to obtain cash. This fee can be stated in terms of a flat per-transaction fee or a percentage of the amount of the cash advance. For example, the fee may be expressed as follows: “2%/$10″. This means that the cash advance fee will be the greater of 2 percent of the cash advance amount or $10.

The banks may limit the amount that can be charged to a specific dollar amount. Depending on the bank issuing the card, the cash advance fee may be deducted directly from the cash advance at the time the money is received or it may be posted to your bill as of the day you received the advance. The cost of a cash advance is also higher because there generally is no grace period. Interest accrues from the moment the money is withdrawn.

5.Card holder agreement — The written statement that gives the terms and conditions of a credit card account. The cardholder agreement is required by Federal Reserve regulations. It must include the Annual Percentage Rate, the monthly minimum payment formula, annual fee if applicable, and the cardholder’s rights in billing disputes. Changes in the cardholder agreement may be made, with written advance notice, at any time by the issuer. Rules for imposing changes vary from state to state, but the rules that apply are those of the home state of the issuing bank, not the home state of the cardholder.

6.Finance charge — The charge for using a credit card, comprised of interest costs and other fees.

7.Floor — The minimum rate possible on a variable-rate loan or line of credit, after any initial introductory rate period. For example, on a credit card with the Prime rate as its index, no matter how low the Prime rate drops, the rate on the line may never decrease below the stated rate floor.

8.Free Period — Also called a “grace period,” a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you’ll have enough time to pay.

9.Minimum payment — The minimum amount a cardholder can pay to keep the account from going into default. Some card issuers will set a high minimum if they are uncertain of the cardholder’s ability to pay. Most card issuers require a minimum payment of two percent of the outstanding balance.

10.Over-the-limit fee — A fee charged for exceeding the credit limit on the card.

11.Periodic rate — The interest rate described in relation to a specific amount of time. The monthly periodic rate, for example, is the cost of credit per month; the daily periodic rate is the cost of credit per day.

12.Pre-approved — A credit card offer with “pre-approved” only means that a potential customer has passed a preliminary credit-information screening. A credit card company can spurn the customers it invited with “pre-approved” junk mail if it doesn’t like the applicant’s credit rating.

13.Secured card — A credit card that a cardholder secures with a savings deposit to ensure payment of the outstanding balance if the cardholder defaults on payments. It is used by people new to credit, or people trying to rebuild their poor credit ratings.

14.Teaser rate — Often called the introductory rate, it is the below-market interest rate offered to entice customers to switch credit cards or lenders.

15.Variable interest rate — Percentage that a borrower pays for the use of money, and which moves up or down periodically based on changes in other interest rates.

I hope this terms will help you out a little when choosing your next credit card.

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