And so it begins - Largest Chevy Dealer Goes Tango-Uniform

[Joseph Burkeson, CMI]

Nation's biggest Chevy dealer closes dealerships
Nation's biggest Chevrolet dealer closes down all dealerships, cites unfavorable economy
September 24, 2008: 06:00 PM EST

NEW YORK (Associated Press) - Bill Heard Enterprises Inc., the biggest Chevrolet dealer in the country, said Wednesday it is closing its 13 remaining dealerships, unable to survive in a weak economy with high gas prices and an inventory heavy on trucks and SUVs.

The Columbus-based company said in a statement it tried to avoid the closures, which will affect about 2,700 employees.

"However, the conditions necessary to sustain the business through the current challenges were not present," the statement said.

The difficult sales environment was made worse by the ongoing banking and financial crisis, it said. GMAC Financial Services last month discontinued credit for new inventory for some of the company's dealerships.

Excerpt: http://money.cnn.com/news/newsfeeds/...36b0d1cb18.htm

[Greg Bell]

In reality these guys should have shut their doors long ago. They used to take buyers keys over here and not return them for hours while they used pressure tactics to try and sell a car. I recall hearing news stories about people calling the police to get their keys back so that they could leave. So maybe there is a bright side to this financial meltdown.

[Frank Magdefrau]

Originally Posted by gbell

In reality these guys should have shut their doors long ago. They used to take buyers keys over here and not return them for hours while they used pressure tactics to try and sell a car. I recall hearing news stories about people calling the police to get their keys back so that they could leave. So maybe there is a bright side to this financial meltdown.

Not only that, the one in the Memphis area had a gate they would close behind you and would not let you out until you were so pissed off you had to call the cops.

They run these ads to get you in their gate and when they would show you the car or truck in the ad it would be the worst thing you ever saw.

Bill Heard dug their own grave.

[gbeaumont]

Hi to all,

yet another indicator of the mess we're in, the motor manufacturers have been over producing the wrong models for years, and financing them to the dealers inventory with guess what? sub-prime loans. In the current credit crunch the neverland financing has dried up, and with it dealer inventory financing, take a look at the car lots, they are overflowing with inventory that they can't finance and can't sell.

They'll be lots more dealers closing thier doors this year, and many auto plants shutting down or working fewer shifts.

On the plus side, if you need a new car/truck (and have real money), wait a few months, they'll be free in boxes of frosted wheaty pops

Regards

Gerry

[Randy D. Stufflebeem]

Not heart broken at all considering the way they do business! Although I did not hear them say that might be part of the problem. Out with the crooks and in with some honesty! Sounds like they may have left out a few things to the reporter. But then again maybe the reporter should have dug deeper into the issue. Imagine that! From what I just heard their reputation of strong arming may have hurt them as well!

[nwagner]

Not pictured directly below the feet of the smiley is a grave ...

[ROBERT W. NEWLAND, JR.]

I don't know much about how they ran their business but my brother inlaw (worked) for them. Now my sister will probably lose their home (long story). It's always a shame that good workers are the ones that take the hit for corporate mismanagement.

[Randy D. Stufflebeem]

Originally Posted by rnewland

I don't know much about how they ran their business but my brother inlaw (worked) for them. Now my sister will probably lose their home (long story). It's always a shame that good workers are the ones that take the hit for corporate mismanagement.

I agree! I took that hit twice. As a Production Manager for National Seal Corp and as a Industrial Engineer at Maytag Corp. The Union and the Management drove them away! Best of luck to them! I am living proof there is life after such a mess.