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80 Years in Business and Shutting Down

GM is shutting down a huge list of dealerships. This list has been planned out by some secret committee, evidently, that is not taking long term performance and dedication to the GM company into consideration.

morguefile.com/alvimann

New dealerships, CLOSING. Dealerships with 80 years in business, CLOSING.

When dealerships close, the community falters and jobs are lost. We are in the worst unemployment time since the Great Depression. Will GM cause the next Great Depression?

The government is not taking the choices lightly and consistly push GM for answers to the toughest of questions. Fear is filling the small towns and big cities across the United States. Losing a dealership is more than losing a job, it is losing a job provider and a stable income for many people.

How do you think this will effect local real estate?

Posted by Tampa Bay Florida Real Estate And Tampa Homes for Sale on 06/04/2009 08:49 AM

Comments (13)

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13 Comments on 80 Years in Business and Shutting Down

JUN

Sad and shocking news. Who knows how the fallout will affect everyone. It is certainly a tough time right now.

It is sad and if affects every facet of our communities.

I would have ben better for the goverment to let GM reorganize in late 2008 rather than prolong the agony. Many jobs possibly could have been saved.

What's sadder is that the government is now in charge of a giant American, industrial corporation, firing CEOs, protecting the unions, and dictating policy. This has larger implications than just local jobs. Make a change at the 2010 Congressional elections.

If they donated to the presidents party they are safe. Just ask the Dodge dealers.

Loss of jobs and loss of tax revenues to the city, county will not help local real estate. That's a given.

The dealerships are individual businesses taking on their own risk by affiliating with these failing companies. If they are so bad for business then we should sell them to the automaking unions ... but they won't pay they will only wait until they own it free by starving them out.

Many will lose their jobs as businesses close. However, the cars will still need servicing and that will create opportunities as well. It will impact the real estate business. One of our associates had a family under contract to purchase a high end residence. The buyer happened to be a manager at a GM dealership and lost his job and had to cancel the sale.

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Don't forget the loss of little league sponsorships, community involvement, part supply companies.........and so on and so on...........Some of the larger dealerships in my area are already promoting that they will be aorund......

Unfortunately I think the smaller towns will be affected worse than the larger cities. Hopefully the void will be filled by healthier automobile businesses and they'll retain some of the auto related jobs.

Some of the people at closing dealerships will be able to find work at the "winning" dealerships. The biggest hit to the economy will be from the closing of some 14 GM plants. We're easily talking about thousands of direct jobs and 10's of thousands of indirect jobs with very little hope of re-absorption in similar employment.

JUN

It will definitely hurt a lot of business, including real estate. Eventually, things will bounce back. Just think of the many crisis we have had in the past.

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