The aim of the bill was to give owners of “high polluting automobiles” tax-payer paid vouchers to help replace the vehicles with “new fuel efficient and less polluting automobiles or public transportation”. But it is not quite as simple as it seems be on the surface.

HKS Co., LTD has reported a net profit of $2.23 million in the 2008 fiscal year even amidst all the cutbacks and difficulties in the automotive and aftermarket industry. In the previous fiscal year, HKS posted a loss of $1.66 million. The healthy performance is attributed to increased sales, cost reduction in operations and expense reductions.

GReddy Performance Products sent out a press release on October 10, 2008 stating that it has also filed for bankruptcy in the U.S. This news follows last month’s filing of GReddy’s parent company TRUST Co. LTD. for the equivalent of a U.S. Chapter 11 reorganization plan in Tokyo, Japan. GReddy carefully states, however, that normal business and flow of inventory will continue to operate as normal and will not be affected.