Here are excerpts from the Minneapoils Star (know as the Red Star
) about the dealers that are going to lose their franchise:
"WASHINGTON - Shakopee Chevrolet owner George McGuire was getting psyched for the sales job of his life.
"What's at stake here," he said Wednesday on his way to meet with Sen. Amy Klobuchar, D-Minn., "is I'll be wiped out."
It's pretty much the same story for nearly 50 other Minnesota car dealers facing termination, either by Chrysler or General Motors, both of which are under various forms of government control. Entire livelihoods, careers and life savings are on the line....."
"They had no trouble lining up sympathetic hearings across the spectrum of Minnesota lawmakers, from liberal Democrat Keith Ellison to conservative Republican John Kline.
Ellison, the car dealers' first appointment of the day, said he is outraged that big auto companies getting taxpayer dollars are shutting down locally owned franchises. "They should be flowing with benevolence and doing everything they can to keep these people afloat," said Ellison, a Detroit native......"
"It's so un-American," said McGuire, a married father of three. "Effectively, the government controls GM, so we're asking the government to allow free enterprise to take place. We're not asking for a bailout. But nobody should choose you to fail."
Who is going to bail out the average guy on the street? I predict a new wave of foreclosures from people who have been laid off for 4-6 months.
The entire story:
http://www.startribune.com/politics/...iaMDCinchO7DUs