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Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&
YEA and one that any business owner could see a downturn coming too. Sure they employ lots of people but they've never been shy about layoffs before and they kept building building building. Look at any car lot right now will show proof of that. I'd be willing to bet the staging yards are stocked full still...
My point was this writing was on the wall not just last week. It's been there for a long time.
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This crisis is different b/c people aren't buying cars b/c they can't get credit which is a result of the banks not lending $. The car dealers are being impacted due to the banks being in trouble and not wanting to lend. One of the problems is that the gov. gave banks $ but the banks aren't using it to lend. Their sitting on it and want to use it for acquistions (which wasn't the intent of the loan). The next bunch of loans from the gov. is going to have more restrictions on them - no AIG style junkets (which is prob. being overblown), you have to lend the $, you can't pay huge bonus', etc.