The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: TideGlider who wrote (580)	11/8/2008 12:45:56 PM
From: Patricia Trinchero	2 Recommendations Read Replies (2) of 103300

My fear is that the assets will be sold off and the debt will be taken over by the gov't ( that's us ). That debt I am talking about are the pensions. The execs and the workers all got more than they should have and it drove up the price of all cars. A bailout of GM won't save the car industry because the dealers at the local levels are all going broke. You then have the parts makers, distributors and service people that will unemployed............the list goes on. Car sales are non existent right now. My husband is a wholesale car dealer so I know a tad about this industry. The large dealerships are now being asked to put up their personal assets in order to continue their flooring ( debt on new car purshases from GM ). Older dealerships are now losing 100k to 200k per month and many will close soon....................2009 will reshape the industry. The larger dealerships will probably all go under or close.

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