Auto Dealers Plead for U.S. Help as Hundreds May Fail in 2009 |

Auto Dealers Plead for U.S. Help as Hundreds May Fail in 2009

Im not into trying to thrive through a Great Depression Part II but at some point you have to draw the line. I understand the unexpected can happen but, what happened to “Business Mans Risk”? We need less bailouts and more ACCOUNTABILITY!

March 7 (Bloomberg) — The National Automobile Dealers Association appealed to President Barack Obama’s car industry task force for help in cutting financing costs for retailers.

The 90-minute discussion with U.S. Treasury auto advisers Steven Rattner and Ronald Bloom didn’t elicit any commitment for aid, NADA Chairman John McEleney said yesterday in an interview. The 19,700-member association expects 1,200 U.S. dealers to close this year, he said.

“We certainly did not receive a commitment and nor did we expect to,” McEleney said. “We had a very helpful discussion. We spent about one-third of our time discussing that topic.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=a53dyARHJ2oE&refer=home

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