Bank of America offers hybrid credit

[swag]

http://money.cnn.com/2006/06/07/news/companies/bofa_hybrid/index.htm

Charlotte-based bank will give its employees $3,000 if they buy a hybrid and live within 90 miles of Charlotte, Boston or Los Angeles.
June 7, 2006: 11:17 AM EDT

NEW YORK (CNNMoney.com) - Bank of America announced it will reimburse $3,000 to many of its employees who buy a new hybrid vehicle.

The nation's No. 2 bank will make the rebates available to more than 21,000 employees who live within 90 miles of Boston, Charlotte, and Los Angeles. The bank's main headquarters is in Charlotte.

"Given the size of our commuting associate base, the hybrid program expands our commitment to the environment and helps our associates to participate in making a difference while cutting down on their commuting costs," said a statement from Anne Finucane, head of the company's environmental council. "We are pleased to be one of the first corporations offering this benefit and strengthening our long-standing leadership on environmental issues."

The bank described the offer as a pilot program and said it will evaluate participation levels and demand to assess how it could be rolled out to the full employee base. The program is being offered to all full-time and part-time employees working at least 20 hours a week in the three metropolitan areas covered by the bank's pilot program.

Hybrid cars have both a gasoline engine and an electric motor, which allows for better fuel economy and lower emissions. Many hybrid owners are also eligible for federal tax breaks, and some highways allow drivers to use high-occupancy vehicle lanes without carrying a passenger if they are driving a hybrid.

Bank of America is not the only company offering incentives to employees buying hybrid vehicles. The Los Angeles Times reports that although the bank's program could become the largest in terms of workers eligible, the rebate is smaller than those offered to employees by three California firms: Google (Research) and software developer Hyperion Solutions (Research), which the paper reports both offer $5,000 for purchases; and privately-held Integrated Archive Systems, which the Times reports has a $10,000 rebate plan.

. . .

[Javaman]

1. Wow, evil BoA actually did something logical. But then again...

a broken clock is correct twice aday.

[ecassese]

2. Surprising

There's probably more to this story . . .