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House: Save the auto dealers! Can Ford survive the intervention? |
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| Jun 10, 2009 02:20 PM UTC |
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Via BloggingStocks:
Filed under: Ford Motor (F), General Motors (GM), Financial Crisis  Well, you knew it had to happen since Uncle Sam effectively owns Chrysler and General Motors. The U.S. House of Representatives is trying to pass a bill that would mandate the large automakers honor existing franchise agreements and put off dealer closures. The Dow Jones Newswire article quoted Bailey Wood, a lobbyist for the National Automobile Dealers Association, with the following doozy: "Closing dealerships will not make either Chrysler or GM any more viable, and Congress is realizing that," Wood said.That the politicians are getting involved in operational decisions is clear evidence of the impending doom for the large auto companies. It's hard enough to exit bankruptcy and restart a business. It's far harder to do so while carrying political agendas on your back. Continue reading House: Save the auto dealers! Can Ford survive the intervention? House: Save the auto dealers! Can Ford survive the intervention? originally appeared on BloggingStocks on Wed, 10 Jun 2009 09:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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