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General Discussions Car People talking about something other than the Car Business – Is there life outside of the Dealership? |
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08-04-2011, 12:49 PM | #1 |
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Dow Jones dropped by over 400 points at mid-day
It appears concerns about the world economy are shaking nerves in Wall Street - the Dow Jones average was down over 400 points earlier today.
As I type this the slide seems to be continuing - the market is down over 473 points. |
08-04-2011, 12:58 PM | #2 |
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Can you say October 1987?
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08-04-2011, 01:30 PM | #3 |
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Market finished down 512 points
It looks like the market finished on the lows of the day and closed down 512 points.
There seem to be a lot of news reports predicting a "double-dip" recession. I was never convinced the economy emerged from the first recession. |
08-04-2011, 01:36 PM | #4 |
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I hope tomorrow isn't a bloodbath!
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08-04-2011, 02:52 PM | #5 |
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ANY MFGR. PUSHING FOR FACILITY REHABS IN THIS BUSINESS CLIMATE IS JUST NUTS !! theyr'e supposed to have economists on board, what do they read?? our PARTNERS should have been preaching facility expense restraint, not demanding upgrades no prudent business person would choose to do at this time. just wish i had more stop losses in place.
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08-04-2011, 04:58 PM | #6 |
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Wish I had gone with my gut and sold off the stocks again about 2 months ago. The only investment that's done worth a crap for me in the past several years is Au.
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08-04-2011, 05:25 PM | #7 |
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In my new work world at CH2M HILL, business is picking up. Problem is, it's internationally, specifically Brazil and Canada. Anyone want to start a dealership in Brazil with me?
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08-04-2011, 05:43 PM | #8 |
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I'm moving to Chile.
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08-05-2011, 02:45 PM | #9 |
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08-05-2011, 02:50 PM | #10 | |
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Quote:
Additionally, I get the impression that a lot of the OEMs are putting pressure on their dealers to upgrade facitlities - especially Lincoln/Mercury stores who are getting pressure to upgrade or terminate. I wonder how many of the Toyota and Lexus Superstores are losing money today because they built $10 - $20 Million facilities during the good times? (The photo of the Lexus dealership that's on the DealershipForum header is of a $20 Million Lexus store in Bellevue, WA owned by a former NFL Football Player.) |
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08-05-2011, 02:56 PM | #11 | |
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Based on what I've read gold will continue to perform well as the U.S. is forced to print money and permit inflation as a means of dealing with our enormous debt problem. |
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08-05-2011, 02:58 PM | #12 |
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08-05-2011, 05:58 PM | #13 |
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Serious question, does BMW make engines that run on ethanol? That's all they have down in Brazil.
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08-05-2011, 08:00 PM | #14 |
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Monday should be fun, with the S&P downgrade of the USA's credit rating.
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08-06-2011, 06:06 AM | #15 |
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I've held on, and now, cannot afford to sell. Just ride it out. Bank of America got so cheap at $9.12 I just got impulsive and bought in....then it fell to $8.77. Friday I went to the Manheim Auction, but before I left I put in another "buy" if it hits $8.01. It hit as low as $8.03, so I missed another "opportunity", and now Monday it will go into the $7 range, I think.
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