A few Chrysler Dealerships closing...

[OttoCobra]

It's gotta happen to thin the over proliferation of distribution outlets (same story for the GM swingers too I hear)

But holy hell! I wonder if this dealership close will affect my credit ? :laugh:

[5litrarag]

How will a dealership closing affect YOUR credit?

[OttoCobra]

How will a dealership closing affect YOUR credit?

Didn't read the article did you ..... :laugh: :ugh:


Hint:look at the owners name.


(grins) :D

[96GTS]

What article??

[5litrarag]

What article??

The one he didn't include but assumed everyone read.


Jesus...

[BondoSHO]

Link fail.

[V3NOM3S]

O/p fail !!!!!!!!

[diddy Liquor]

http://weblogs.newsday.com/sports/football/bob_blog/gump.jpg

[RyanSterling966]

E P I C FAAAAAAAAAAAAAAAAAAAAAAAAAAAIL

Nice work knuckle head

[fdogg96]

Knuckleheads, you need a UV light to read the invisible link.

[BISKIT]

Wow. This is bad.

GM is closing 2600 dealerships (yes you read that right)
And Chrysler is closing 1100.

No buyback, no payoff, just a letter to the owner of the dealership saying, our contract with you is terminated, you are SOL with your business, your inventory of cars and parts and sorry to your employees.

[diddy Liquor]

Wow. This is bad.

GM is closing 2600 dealerships (yes you read that right)
And Chrysler is closing 1100.

.
Did I read that right? every source I have seen said 1100 total for GM

http://news.yahoo.com/s/ap/20090515/ap_on_bi_ge/us_auto_dealers
Im calling GM BK for the 29th of this month

[5litrarag]

Bankruptcy protection by end of month, no doubt.

Sucks for those dealers. But they had to know this axe might fall one day.

[diddy Liquor]

as a side note marks number (2600)reflects the total the want to cut. The ugly part of this is the 1100 number that is being seen right now are dealers who's franchise deals are ending, GM is not renewing them. Some of the dealers are actually stronger than their neighboring dealers but are getting the axe since their contract is expiring meaning it cost GM nothing to drop them

[5litrarag]

Wow. This is bad.

GM is closing 2600 dealerships (yes you read that right)
And Chrysler is closing 1100.

No buyback, no payoff, just a letter to the owner of the dealership saying, our contract with you is terminated, you are SOL with your business, your inventory of cars and parts and sorry to your employees.



HEY!

no posting for you until I have proof that my Oinker has had its stomach welded up and the tow is lined up.... :angry2:

I'm working some stuff out now and things are looking good for the Pig's future. :nod:

[BISKIT]

as a side note marks number (2600)reflects the total the want to cut. The ugly part of this is the 1100 number that is being seen right now are dealers who's franchise deals are ending, GM is not renewing them. Some of the dealers are actually stronger than their neighboring dealers but are getting the axe since their contract is expiring meaning it cost GM nothing to drop them

That is correct Pat but the problem is under the same restructuring agreement that Chrysler signed with the government which obligated them to cut dealerships, GM will be under the same axe.

People are not talking about this as much as they should.

Even at just the conservative number of 1100 dealerships (just GM), calculate 50 employees per dealer (low estimate) that is 55.000 jobs lost just at the dealer itself. This does not even begine to cover the ancilliary businesses that rely on these dealerships, the parts suppliers and manufacturers, etc etc.

This is bad news for the industry all around at the very least for the next couple of years.

[BISKIT]

HEY!

no posting for you until I have proof that my Oinker has had its stomach welded up and the tow is lined up.... :angry2:

I'm working some stuff out now and things are looking good for the Pig's future. :nod:


She is getting welded up as we speak and should be done in the next 10-15 minutes. Then I am gonna go out and coat her up so she doesn't rust and as far as the tow, it is already lined up and good to go for tomorrow.

I got you covered baby. :asthanos:

[5litrarag]

She is getting welded up as we speak and should be done in the next 10-15 minutes. Then I am gonna go out and coat her up so she doesn't rust and as far as the tow, it is already lined up and good to go for tomorrow.

I got you covered baby. :asthanos:




Well then....

As you were. :biggrin:

[diddy Liquor]

That is correct Pat but the problem is under the same restructuring agreement that Chrysler signed with the government which obligated them to cut dealerships, GM will be under the same axe.

People are not talking about this as much as they should.

Even at just the conservative number of 1100 dealerships (just GM), calculate 50 employees per dealer (low estimate) that is 55.000 jobs lost just at the dealer itself. This does not even begine to cover the ancilliary businesses that rely on these dealerships, the parts suppliers and manufacturers, etc etc.

This is bad news for the industry all around at the very least for the next couple of years.

People aren't talking about it much anymore
I think the consensus is to let all of them choke on a dick. None of the bailouts have helped, most have came back time after time for more money all the while paying out bonuses, flying private jets, throwing parties and refusing to take shape. All the pukes that created this mess continue like nothing happened as the taxpayers get fleeced!

The feds are now throwing your money at insurance companies, Recipients are Hartford, Prudential, Allstate, Ameriprise, Lincoln National and Principal Financial Group

[Enorbit3]

People aren't talking about it much anymore
I think the consensus is to let all of them choke on a dick. None of the bailouts have helped, most have came back time after time for more money all the while paying out bonuses, flying private jets, throwing parties and refusing to take shape. All the pukes that created this mess continue like nothing happened as the taxpayers get fleeced!

The feds are now throwing your money at insurance companies, Recipients are Hartford, Prudential, Allstate, Ameriprise, Lincoln National and Principal Financial Group

q fucking T!

[BISKIT]

People aren't talking about it much anymore
I think the consensus is to let all of them choke on a dick. None of the bailouts have helped, most have came back time after time for more money all the while paying out bonuses, flying private jets, throwing parties and refusing to take shape. All the pukes that created this mess continue like nothing happened as the taxpayers get fleeced!

The feds are now throwing your money at insurance companies, Recipients are Hartford, Prudential, Allstate, Ameriprise, Lincoln National and Principal Financial Group

I can't argue with you there. You are absolutely right.

I don't know exactly what the "other scenario" would have been completely but I never was a fan of government intervention in large private industry like this. It is somewhat reminiscent of the 30's when such intervention caused a bad recession to be a prolonged depression.

I think this will go down as a very dark chapter in American economic and domestic policy (and no, I am not blaming either administration as republicans and democrats both fucked the pooch long enough to get us here)

[diddy Liquor]

another side note for all of you who think Ford is in the best spot..... WRONG! They are in the worst spot possible!

When this is all said and over, new GM stocks will be $45 while Ford will sit at $2 why? because they went the honest high road. They will still have all of their debt, where GM will emerge from BK clean without debt or existing union contracts or the legacy cost.

In this current USofA the dirty bad guy wins, the honest clean guy losses

[5litrarag]

Chrysler or GM are not getting out of any Union contracts.... Might be renegotiated in terms of who is going to pay for what and when, but there WILL be Union representation there. Believe that.

[RedRyder]

this shit pisses me off to no end.

[Enorbit3]

this shit pisses me off to no end.

[diddy Liquor]

Chrysler or GM are not getting out of any Union contracts.... Might be renegotiated in terms of who is going to pay for what and when, but there WILL be Union representation there. Believe that.

I notice you have been steadfast in stating that the union contracts aren't going anywhere. Why do you believe that?

Delphi, under chapter 11 cut the number of union employees by more than 50%. Then gutted the company piece by piece to further cut the union out.