The Truth About Cars blog is doing a great job of covering the American auto industry's spiral down the crap hole. Keep an eye there to see the latest shenanigans, which are entertaining in the same way as watching someone get hit in the 'nads with a wiffle ball. A tidbit from today features a report that bankers are turning off the money spigot for Chrysler dealers:
Ha ha! Funny, unless you're a taxpayer. And those people have it coming anyway, am I right?
Chase has officially terminated the floorplanning of Chrysler vehicles. Given the freeze at CFC [Chrysler Finance], now nobody can buy cars. Supposedly the haulers won’t deliver units because of payment concerns. A suggestion: see if the sales projections match the dealer network. My take is they aren’t even close… meaning, the expected losses to the taxpayer are going to be through the roof.
Ha ha! Funny, unless you're a taxpayer. And those people have it coming anyway, am I right?
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