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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (64295)	1/16/2012 1:26:02 PM
From: GROUND ZERO™	5 Recommendations Read Replies (4) \| Respond to of 103300

Really? No dealerships were closed? Now I have obvious and clear proof you have absolutely no clue what you're talking about... I have direct personal knowledge to the contrary that numerous dealerships were closed all across the country permanently and that countless people lost their jobs... GZ

To: DuckTapeSunroof who wrote (64295)	1/16/2012 2:19:59 PM
From: robert b furman	5 Recommendations Read Replies (2) \| Respond to of 103300

No, The government is owner of GM stock -which when issued still left about quite a lot due. The stock is under water so there is no hope of getting all the money back now. Gm while under bankrupcty and Chrysler "unwound small dEALERS THAT WHERE NOT FRANCHISE CHANNELED,UNDERCAPITALIZED OR UNDERPERFORMING VIA REGISTRATION DATA. WHILE IN BANKRUPTCY, FEDERAL LAW USURPED STATE FRANCHISE LAW AND A HEAVY HAND WAS HANDED DOWN TO THE LOCAL SMALL DEALERS. The small dealers had an arbitration process that generally did not change the original unwind call. It should be pointed out that of the unwound GM dealers 900 plus some 400-500 were reinstated when GM woke up to the fact that if the dealer had a lifo accounting adjustment it was like an asset and many that looked undercapitalized were in fact better capitalized. This misunderstanding was very embarassing to GM and was not discussed much - but many dealers were UN unwound and allowed to continue. The money loaned to Gmac to floor the product was repaid relatively quickly once commercial paper began to flow as it had been locked up and Gmac was a big buyer of commercial paper to floor the dealers floor plans. When the commercial paper went away - GM's capability to floor the dealers inventory locked up and Gm had to shut down the factories. That was what made the loans needed immediately. GM sells their product within a day of two of production as they transfer the ownership to the dealer upon initiating the floorplan line of credit. Hope that helps. Buddies not facual regarding these claims. Bob