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Leaders: Auto closures would hit everyone (Royal Oak Daily Tribune)
School districts and government entities are cringing at the possibility that General Motors or Chrysler could shut down for good at a time when tax-paid services are already threatened by recession.
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Local pillars, U.S. auto dealers teeter (International Herald Tribune)
As auto sales plunge, about 900 U.S. new-car dealers are likely to go out of business this year, and just in October, 20,000 of their employees lost their jobs.
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Car economy impacts everything (Sonoma Index-Tribune)
DAN ROSELAND, owner of Sonoma Chevrolet, thinks the bailout of the Big Three is necessary. David Bolling/Index-Tribune While Detroit auto executives occupy the bailout hot seat, thousands of independent auto dealerships all across the country may be the economic tail that wags the dog of the beleaguered American auto industry.
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Freeland Chevrolet opens in Antioch (The Tennessean)
Auto dealer Ben Freeland has decided to make a bet on expanding his operations at a time when car sales nationally are at their lowest level in more than 25 years and top American carmakers are bleeding through billions of dollars in cash reserves.
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That new-car smell is growing stale on the lot (Lexington Herald-Leader)
QUINCY, Fla. . Bruce Thomas washed cars at his father's General Motors dealership here at age 12, changed oil in high school and sold his first Pontiac during college. His commitment to a famed American industry, part business and part romance, never waned. He took over his family's two dealerships, building a small fortune. In turn, he showered generosity on local churches, school ...
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Citigroup Predicts 2,000 Gold in 2009 (GoldSeek.com)
By: David N. Vaughn, Gold Letter, Inc. The horror of this financial crisis continues to grow. The debate continues over bailing out the auto industry. What do you think? If a bailout occurs it will only be the first in a never ending line of industries seeking help.
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Local Pillars, Auto Dealerships Teeter as Big Three Decline (New York Times)
Any government help will probably come too late for thousands of dealers whose sales are evaporating along with consumer confidence and credit.
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Roadside Assistance Needed (San Diego Business Journal)
The $200 billion in federal loan guarantees aimed at supporting consumer finance announced Nov. 25 is good news for the automotive industry, said local dealer Dave Grundstrom, chairman and part owner of Marvin K. Brown Auto Center in Mission Valley.
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Commercial Paper 30-Day Rates Rise to the Highest in Four Weeks (Bloomberg)
Dec. 1 (Bloomberg) -- Interest rates on U.S. commercial paper rose to the highest in four weeks as investors hoard cash and avoid lending into next year amid the global credit shortage.
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First AME pastor's spending examined (Los Angeles Times)
John J. Hunter used church credit cards for personal items, an audit finds. He denies any wrongdoing. The pastor of the First African Methodist Episcopal Church, one of the oldest and most prominent black congregations in Los Angeles, used church credit cards to pay for at least $122,000 in personal expenses over a three-year period, including jewelry, family vacations, clothing and auto ...
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