Posted on 07/18/2010 5:15:31 PM PDT by gusopol3
A report to be released tomorrow by the Treasury Department's Special Inspector General for the Toxic Asset Relief Program (SIGTARP) will contend that President Obama's push for General Motors and Chrysler to close thousands of dealerships across the country as part of their government bailouts "may have substantially contributed to the shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls, all based on a theory and without sufficient consideration of the decisions' broader economic impacts
(Excerpt) Read more at washingtonexaminer.com ...
Where’s a photo of Captain Obvious and his son ‘Duh’?
A GM dealership up the street from my work closed last year. The local coffee truck guy who stops by my work took a huge hit as the dealership’s mechanics, salespeople, etc. gave him a ton of business. He’d stop by there three or four times a day. I spoke to him a couple of weeks ago and he says he’s barely making ends meet. He wants to sell the business but there are no takers. His coffee is delicious (as far as coffee truck coffee goes) so I try and help him as much as I can. What a shame.
Auto dealerships are privately-owned businesses and pay for everything from monthly overhead to signage to inventory financing.
Sure, the imports have fever dealerships, but their sales are concentrated in large and medium size cities. Many of the “Detroit three” dealerships are in smaller towns and have been in the family for years.
GM’s costs shouldn't differ much if it has 6,500 dealerships or 3,500.
It’s beyond me how this idiot Barry believes that his complete lack of experience provides him with the knowledge to tinker with complex business supply chains. Barry’s path of destruction through the economy is unsustainable.
I have to agree. I never understood the rationale of it either. Just another example of the administration not having a clue about the real world.
Barry’s path of destruction through the economy is unsustainable.
It’s all part of the big picture.
He seems to be enamoured with the ice cream business. He always has a cone in his hand at every photo-op.
Time for the WH to fire the IG. After all, he must be senile, right?
No s*it Sherlock.
This was the most ignorant decision ever made.
The dealers cost the manufacturer’s NOTHING.
It is impossible to discern why such action took place.
Illogical in the extreme and counter productive.
It is precisely his complete lack of experience that leads him to believe he can effectively (and not disastrously) tinker with complex business supply chains. He believes in a command economy, scientifically planned, and therefore entirely predictable. It sure helps that he is an economic illiterate.
He wants to herd people into mega employment units at the behest of his union crones is my guess. I thought so from the time he addressed Joe the Plumber; I don’t think he was really enthusiastic about Joe going into business for himself, he seemed to suggest his model for Joe was to stick with his employer, maybe get paid a bit more a little earlier in his career.
Most of the dealerships that closed were owned by Republicans. A Republican whose dealership has been closed is one less enemy of the state able to make money to contribute to Republican candidates, other enemies of the state. Not illogical at all.
In Obama's world view, the brutal man is stronger and the stronger man is right!
“The dealers cost the manufacturer’s NOTHING.”
Definitely not entirely true - manufacturers heavily subsidize training, special tools/equipment, ads, etc.) - but note that small towns, where most smaller dealers were, tend to be conservative (=expendable).
And Oboingo asked them to come back a while back when the Diforino lawsuit hit. What a co-wink-dink.
But would you risk you capital and sweat and blood on the word of this tin-horn potentate?
IMHO not in a million years. I imagine some dealers would be inclined to take their right hand, thrust it against the joint of their left arm and give him the Italian Salute.
I hate to say it as I know good folks effected, but don't even get me started on the GM IPO and what a farce that will be IMHO.
“It’s all part of the big picture”
It has to be! I’m a reasonable, rational person. I own a small business that’s not doing too bad in this economy especially since I heeded the signs and was able to prepare since the 2006 elections.
the government interventions have not ‘fixed’ any of the problems that caused this. They have only created a crisis to extend the reach of the government.
Don’t buy cars from government motors companies.
Well, last week someone posted a chart of the % of people in zero's administration who ever worked in the private sector. That says a lot about why his crap is not working to create jobs.
Do not question the regime you IG cracker. /newblackpanthers
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