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Chrysler To Shutter 789 Dealerships

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posted on May, 14 2009 @ 12:31 PM
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Chrysler To Shutter 789 Dealerships


cbs5.com

Chrysler LLC wants to eliminate 789 of its U.S. 3,200 dealerships, saying in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other.

The company, in a motion filed with the U.S. Bankruptcy Court in New York, said many of the dealers' sales are too low. Just over 50 percent of the dealers account for about 90 percent of the company's U.S. sales, the motion said.
(visit the link for the full news article)




posted on May, 14 2009 @ 12:31 PM
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Well It looks like it has begun. We have been waiting for month's for them to finally start announcing that they are scaling back. It anger's me to no end that they are shuttering dealerships here while sending jobs out of the USA.
Only a matter of time before the other's start to close down shop now and also move even more of the productions etc. out.

cbs5.com
(visit the link for the full news article)



posted on May, 14 2009 @ 12:50 PM
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www.abovetopsecret.com...

Some more news about GM courtesy of Leader of progress

I wonder if people really get what this is going to mean for the job losses in this country?



posted on May, 14 2009 @ 01:10 PM
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I know exactly what it means. Not to mention the gm retiree's and the Chrysler retiree's should be concerned as well. So now we are crushing our main manufacturing export from America. The trickle down is be HUGE. I can imagine the system is already worrying about this. I might be overreacting a little bit but after traveling abroad last week I SAW tumble weed blowing thruout all the small towns I ventured thru up north, On a Saturday evening. Riight now most people have recession fatigue, they don't wanna hear about it and the MSM, is watering it down as well cause its not bringing the ratings. To get back on par, the steel plants, the car part plants the part stores, anything associated with these car plants any buisness may it be service, to whole salers to the part plants will feel this. Jobs will be lost, and their is no other manufacturing jobs to subsidize the amount of employee's getting the axe. The face of America is changing.. Kinda scary. Again its just my opinion I might be over reacting a bit, but that's how I see it..

[edit on 14-5-2009 by Adrifter]



posted on May, 14 2009 @ 01:38 PM
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reply to post by Adrifter
 


You aren't over reacting at all, especially about the trickle down effect this is going to have on the economy as a whole.
We have VERY limited manufacturing left as it is and now our MAJOR manufacturing base is taking a hard hit that will most likely send it out. Many more people are going to lose their job's and those ever enlarging "new unemployment" fillings are going to swell greatly.
They can keep adjusting them all they want. But when it really starts to roll; they are going to be hard pressed to keep going back two month's everytime and readjusting them to the true much higher numbers. People will catch on to it sooner or later. Let's just hope it is sooner.



posted on May, 14 2009 @ 08:03 PM
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Trillions of dollars for incompetent banks like Citi and so on (Yes, trillions...on top of the hundreds of billions of govt bailout money, the Federal Reserve has been quietly buying up their toxic assets and giving them "loans" to the tune of several trillion). This money has been given with zero strings attached, and much of it has gone into CEO salaries and bonuses.

Meanwhile, when real heavy industry like auto companies get in trouble, much less bailout money is given, it is given stingily, and it comes with tons of strings attached (CEO firings, direct federal control of the Boards of Directors, etc.).

I do think the US auto companies have made lots of mistakes and they need serious change. There has been a lot of incompetence, complacency, and bad judgement. But its not worse than the bad calls made by the big investment banks. Why do those guys get such generous handouts while the big three automakers are on their knees and gasping their last death-rattle breaths? And then there is the recent news about GM moving production to China...the US is basically hawking what remains of the crown jewels of its manufacturing sector.

The US needs to encourage and give aid to more heavy industry and less to financial paper-shufflers. The manufacturing sector represents real economic torque and employs millions. The financial sector is parasitic. adds very little value to the real economy, and is behind many of our current woes. Why are we sacrificing the former and bowing and scraping to the latter?



posted on Jun, 11 2009 @ 02:25 AM
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If we survive this at all, where are we going to get service to our cars?
In my town alone, which is a small foothills town in Sierra Nevada Foothills, 5 dealerships have closed this year alone!

The trickle down effect is going to be so massive...we can not comprehend! That old saying I am starting to really understand!
Hold on to what you've got!



posted on Jun, 11 2009 @ 06:19 AM
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Originally posted by silent thunder
Why are we sacrificing the former and bowing and scraping to the latter?


Because the dirty little secret is that the majority of our GDP was the false profits being made on Wall Street over the last decade or more. When we moved from a manufacturing base to a 'service economy' it was the financial service sector that propped everything up, but now you see that those profits were just accounting tricks and the entire sector is close to insolvent. That explains why the average person on the street has been suffering declining wages and standard of living for decades while the GDP has exploded - there was never any 'trickle down' because there was never any real wealth being created, just numbers in a spreadsheet.

The government has been borrowing huge amounts to fund itself and the wars in Iraq and Afghanistan, based on that huge $14 trillion annual GDP, and now they're deathly afraid that the credit is going to be cut off when they need it most. They will lie, steal and cheat to prop up the banks because if they fall, the entire government will fall with them. Witness Hank Paulson's threat of 'martial law and tanks in the streets'.

And this thing is a LONG way from being over...



posted on Jun, 11 2009 @ 06:39 AM
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I would like to see a list of the dealerships closing, as the economy here is already in a deep depression. We have several dealers here in NE Ohio , and I am wondering if our dealers here will be deleted.



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