This is a special Halloween. Once a year we are supposed to celebrate all that is dark, mysterious and frightening in our world. This year, the economy has done that for us already. For dealers, Halloween is usually the last day of a tough month where there is little or no possibility of a big [...]
Entries Tagged as 'Dealers in Trouble'
Happy Halloween – Tampa Ford Dealer Ordered to Pay $6.9 Million
October 31st, 2008 · No Comments
Tags: Dealers in Trouble · F&I
Increasing Gross Margin Can Lead To Jail Time
October 8th, 2008 · No Comments
One of the most difficult parts of the car business is keeping your gross margin high. When you buy your cars in an efficient market and sell them to an increasingly sophisticated customer base, it is difficult to maintain a return that justifies the investment, effort and risk. There are only two ways to increase [...]
Tags: Dealers in Trouble
A Few Thoughts About Bill Heard
September 25th, 2008 · No Comments
After the earlier reports that GMAC had pulled Bill Heard’s floorplan financing, it was not a huge surprise to learn that his stores closed their doors yesterday. But watching interviews of some of his technicians on the news last night brought home the reality of 2700 people suddenly losing their jobs. Looking at those technicians [...]
Tags: Dealers in Trouble · Uncategorized
Carl Gregory GM Busted on Felony Theft Charges
September 6th, 2008 · No Comments
The general manager of Carl Gregory Chrysler, Dodge, Jeep, Hyundai of Albany, Georgia was arrested on charges that he stole up to $9000 from customers. The sheriff’s office claim that general manager, Joseph Martin, and “top salesman,” Mark “Bo” Kennedy, worked together to steal money from customers. Allegedly, the pair revised customers’ paperwork in order to scoop [...]
Tags: Dealers in Trouble · Embezzlement
New Allegations Raised Against Bill Heard
August 27th, 2008 · No Comments
The Georgia Governor’s Office of Consumer Affairs raised new allegations against Bill Heard Enterprises. The Governor’s Office claims that Bill Heard engaged in deceptive and misleading sales practices in violation of Georgia’s Fair Business Practices Act of 1975. Specifically, it asserts that Bill Heard failed to pay off trades and engaged in “power booking” (overstating [...]
Tags: Advertising · Dealers in Trouble · State Attorney General Actions