Thread: Six years past.
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Old 05-13-2015, 01:54 PM   #5
Senior Member
Join Date: May 2009
Posts: 542

I was fortunate to have sold out in 2005, but I still get soooo wound up and mad when someone says something about the credit meltdown back in 2008 and how so many dealers around here went out of business because of it. When I start to explain that it wasn't the credit crunch that put them out of business, but our own government and the manufacturers, in clear violation of the Federal Bankruptcy Code, the Franchise Agreements, and 200 years of contract law, they are SHOCKED when they hear what REALLY happened. I explain to them about the bondholders getting screwed out of their first lien status by the government...the payoff given to the UAW...the backroom deals and corporate politics that determined what dealers got shut down and above all how the government facilitated the theft of private property from U.S. citizens and allowed the manufacturers to walk away from their contractual obligations to the dealers they terminated illegally. It still happens at least once a month, and they usually ask "why didn't we ever hear about this in the could they get away with that?" I had several close friends that had their life's work stolen from them and I will never get over it...because I KNOW that if I had still been in business I would have been one of the 789, but the people I sold out to were closed in my place. If I had still been in business I would have lost everything I had spent my life working for and there would not have been a damned thing I could have done to prevent it, just like my friends couldn't. The whole thing was pretty much "swept under the rug" by the news media, the administration, the UAW, and the management of GM and Chrysler, and only a few of us will ever know what really took place in May of 2009...and that's a damn shame. I'll lift a glass to the memory of those left behind.

Last edited by DealerEx; 05-15-2015 at 05:36 PM.
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