Auto loan lenders are using an annoying beeping box to make sure sub-prime borrowers pay on time. Cars are fitted with a device such as the “On Time” gadget. When the monthly payment gets near due, it starts blinking. On the due date, it starts beeping. If the payment isn’t made, then the device prevents the car from starting. After the borrower makes a payment, the lender gives them a code that resets the box and stops the blinking and beeping. Lenders love the device and say it’s reduced default rates by 30%. Maybe they should invent something like these for houses.
US Airways managed to hold on to something as the floor dropped out of a few other airlines’ on-time percentages… so let us introduce our new punching bag: Atlantic Southeast Airlines!
On-time arrivals dipped in November among the major carriers. The on-time arrival rate slumped to 76.4%, down from 80% a year ago. Aloha Air was the most on-time carrier, along with Hawaiian and Frontier to round out the top three. The worst? Atlantic Southeast Airlines, Comair, and JetBlue Airways.