Dealergate (Cont): 28 days to sell everything
This is just the latest in a series of posts on the autocrats taking over and sinking auto dealerships across the country. But this comes with a twist guaranteed to make your blood pressure rise.
If you have not read the post from the Sound Off Sister on the Orlando car GM dealership being shut down you need to. Plus make sure you read Steve’s post on the role politics may be playing in the shutdown.
But, I can assure you, this next story will make you want to rant like a certain morning talk show host in Southern New England.
Imagine this. You own a dealership. Chrysler begs you to take on as much inventory as you can to boost their sales. The company tells you … “Don’t worry. Even if we go bankrupt we will buy everything back.”
But this is the government. They can change the rules whenever they want and they have. Listen to the story of Geoff Pohanka, a successful Chrysler dealer in Virginia. He was told first he was being cut loose. Then he was told he has 28 days to sell everything (including the extra inventory they begged him to take) after which no warranties will be honored. And then he was told … oh by the way, we will not buy anything back. Line of the day “I never thought this could happen in America.” Indeed.
And make sure you catch the little comment at the very end. They are shutting him down but NOT reducing dealerships in the area. Do you get it? Oh yeah. That’s right.
httpv://www.youtube.com/watch?v=D-81El2Wuvw
Once again make sure you make you way to Dealergate, GM closing dealers who make money. This, me thinks, is a scandal.
4 Comments
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"Normal bankruptcy rules" tossed out the window. Another case of contracts being dishonored by Obama. Correct me if I am wrong, but anen't contracts the basis for practically all law? Shouldn't an adjunct instructor in constitutional law know this? How about the president of the Harvard Law Review? Do they teach megalomania at Harvard now? (they sure don't teach economics!)
“I never thought this could happen in America.” But it is not only possible, but becoming routine in the Orwellian Obamerica.
No wonder Hugo Chavez is in awe of the the "one!" He only took over a crummy TV station! Obama already has the media in his pocket.
This is a carbon copy of the housing market. Flood the market with subprime loans/ dealers take on more inventory. The amount of property/cars then becomes the property of the Gov't ( no need for emminent domain actions). Then the dealerships become assigned to other parties – didn't Feinstein's hubby get lots of money to handle reselling forcloures?
Oh yeah, don't forget, The care dealers are at least given the option/ opportunity to go bankrupt. Those who accepted TARP $$ are now puppets( that includes states too right?) How much you wanna bet that the new and untouched dealers will end up with a TARP puppet deal too?
Keep an eye open for this pattern.
I wanna see the faces on the Chris Matthew's types when the Gov't says, "You helped us reach our goal of fooling the American people. But now that we have Gov't run media , we only need one of you talking heads."
Then there are those who THINK they are not affected. GM also owns GMAC mortgage. That means the Gov't. holds the deed to your ranch. Which means these folks are now in Gov't housing.
1. Emminent domain is no longer an issue. If the Gov't wants your house and property, guess what? : They can move you, at will, to OTHER Gov't housing. To ANYWHRE they choose. To have the priviligge of living in Gov't housing, you have to meet the required credit history minimum. No problem: You will be given a percentage of the equity in the home and you will never own it (translation – your $$ will be stolen, just like Wall St., just like the car dealers, just like GM stock holders were offered). You will have the privilege of paying the Gov't RENT forever.
I gotta stop. It is just too plausible and scarey.