- #75 of 654
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Re: Epitaph for a Dealer [lemko]
by nippononly
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Dec 08, 2008 (1:05 pm)
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Replying to: lemko (Dec 08, 2008 10:10 am)
I am surprised he didn't dump P-B-G and keep Cadillac. Cadillac dealers as a group are doing pretty well, I thought.
Still, GM needs a lot more like him to go out of business. I STILL say I would like to see Congress help the auto industry suppliers and the folks like Mr. Eckenhoff with the transition to 1 U.S. automaker rather than throw billions of dollars at GM and Chrysler.
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- #76 of 654
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Re: Epitaph for a Dealer [nippononly]
by fezo
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Dec 08, 2008 (1:13 pm)
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Replying to: nippononly (Dec 08, 2008 1:05 pm)
I don't know. We had a Chevy - Cadillac dealer and he closed up the Cadillac dealership and is still selling Chevies.
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- #77 of 654
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a flushing out is necessary
by steve_ HOST
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Dec 08, 2008 (6:59 pm)
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"To help dealers temporarily, the national auto dealers' group is seeking access to a Small Business Administration low-interest loan program, which dealers used in the 1980s for greater access to working capital. They're unlikely to receive such access this month, but it's been discussed as a potential piece of a Democratic economic stimulus package early next year.
Many dealers are also eager for the tightness in the credit markets to ease, noting that their biggest problem is a clampdown on loans to potential buyers in recent months.
"Washington doesn't need to give dealers anything," said Mike Charapp, a Virginia attorney who represents car dealers in the Southeast. "They need to do some things to open the credit taps."
Auto dealers, business dead, say they deserve help, too (McClatchy)
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- #78 of 654
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Re: a local one bites the dust [steve_]
by explorerx4
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Dec 08, 2008 (7:01 pm)
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Replying to: steve_ (Dec 04, 2008 8:55 pm)
just because some can hit a baseball, not necessarily field one, or maybe understand how to run a business...
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- #79 of 654
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Re: a local one bites the dust [gagrice]
by explorerx4
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Dec 08, 2008 (7:06 pm)
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Replying to: gagrice (Dec 05, 2008 6:39 am)
people also need to have jobs to support a car payment.
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- #80 of 654
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Re: a local one bites the dust [explorerx4]
by boaz47
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Dec 08, 2008 (7:45 pm)
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Replying to: explorerx4 (Dec 08, 2008 7:06 pm)
"people also need to have jobs to support a car payment. "
well now you know where the dealers have been headed for some time. Once we started exporting our jobs off shore it was only a matter of time before people couldn't afford to support cars and a house and all the other goodies we exported off shore.
Still I have to wonder if Suzuki and Subaru will weather 2009 without losing a dealership or two? They weren't all that plentiful in the first place.
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- #81 of 654
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Re: a flushing out is necessary [steve_]
by nippononly
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Dec 08, 2008 (10:16 pm)
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Replying to: steve_ (Dec 08, 2008 6:59 pm)
In that article they mention government incentivs to consumers to buy cars, but I think consumers need direct government lending for a while if they are to buy enough cars to help out all the dealers in trouble.....
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- #82 of 654
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Re: Epitaph for a Dealer [lemko]
by guss
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Dec 09, 2008 (4:40 am)
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Replying to: lemko (Dec 08, 2008 10:10 am)
Funny you mention Eckenhoff, a co-worker came into my office yesterday and said they closed over the weekend. No going out of business sale or anything. I guess they get a better price sending them back to GM, than the expense of selling them ?
I work near them, and a few years ago they were picketed by a mechanics union. The strike lasted 4 or 5 months, that may have hurt them a bit.
I test drove a Pontiac G6 and G8 there over the summer. It was a Tuesday on my lunch and they seemed busy. They must have had alot of no sales like me.
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- #83 of 654
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Re: a flushing out is necessary [nippononly]
by gagrice
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Dec 09, 2008 (5:43 am)
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Replying to: nippononly (Dec 08, 2008 10:16 pm)
I think tax credits are preferable. Then you do not get people strung out financially that should not be. Easy credit got US where we are today. The government meddling in the mortgage business was probably the root cause of all the current problems. We need to get back to sound lending practices. You don't qualify, you don't get that new car or home loan. I would also like to see a lending cap on interest rates. I think some states like MN already are set at 12%. These CC companies are making it more difficult for people in trouble to get out with 20-30% and higher interest. If they are not a good risk at 12% they should not have the money. I know our Credit Union has not wavered and do not have the problems many banks have today.
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- #84 of 654
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Re: Epitaph for a Dealer [guss]
by lemko
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Dec 09, 2008 (6:35 am)
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Replying to: guss (Dec 09, 2008 4:40 am)
Well, Eckenhoff had only been there for about two or three years. Before that, it was called Fairway Cadillac. Didn't know about the strike as I always had my car serviced at the dealership from which I bought it. All I know is they kept the same parts guy when they changed ownership. I was shopping for a car last fall and they sent me email inviting me to look at a car, however, I had already purchased my DTS from the same dealership and salesman I from which I bought my 2002 Seville STS. I did talk to a salesman at Eckenhoff, but they didn't have the kind of DTS I was looking for. I wanted a Luxury III or a Performance, but Eckenhoff only had a lot of the lower end models.
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