The retail auto industry is in trouble. You don’t need me to tell you that. Most everyone in and serving the retail auto industry is also aware that credit, not demand, is the biggest problem dealers are facing. The main focuses of credit are: a) the sudden and significant tightening of retail credit making it much harder for customers to secure financing; and, b) dealers suddenly being faced with the loss of their wholesale flooring or credit lines, with no substitute, making it nearly impossible for them to continue on in business.
To that note, two good friends of mine, auto dealers Bob and Mary Cockerham of Albuquerque, NM have been given the opportunity to testify on Thursday, March 19, 2009 in Washington, DC to a U.S. Senate Sub-Committee about the problems being experienced by U.S. auto dealers relating specifically to those two credit issues.
Bob and Mary want to paint the whole picture, not just their own and that of Albuquerque and Santa Fe, NM. The time allocated for verbal testimony will be limited and likely focused on their own situation, however they are able to submit as written testimony as much information as they can carry in, which will be reviewed by the entire sub-committee. That is where you come in.
If you have experienced problems with your floor plan, or experienced a loss of retail sales due to tightened credit, they need your story – facts and specifics It must include your contact information so that the senators can validate you are real people and businesses. You may submit your comments to Bob and Mary Cockerham directly, you may submit them to me, or, you may call Bob and discuss the issue with him (just realize the number of calls he is taking right now).
Contact info:
Bob and Mary Cockerham Greg Goebel, Auto Dealer Monthly
bobc@carworldkia.com greg@autodealermonthly.com
505-991-1891 941-927-8439
I apologize if you see or read this message a number of times, but in the interest of time, I am going to exhaust every avenue and every database I have to reach out to all dealers. If you are not a dealer, I apologize as well, but can help the industry by forwarding this message to any dealers you may know. In my eyes it is worth it as it is truly rare when a dealer has the eyes and ears of the U.S. Senate and a chance to make a positive impact for all dealers across the country. Bob and Mary have no grandeur delusions of what they might be able to accomplish, but they know nothing ventured is nothing gained, and they want to try to make the most of their one chance.
Thank you in advance for your time, understanding, and support.
Best regards,
GG
Members of the Senate Sub-Committee on Small Business and Entrepreneurship
Democrats (11)
Chair – Mary L. Landrieu (LA)
John F. Kerry (MA)
Carl Levin (MI)
Tom Harkin (IA)
Joseph I. Lieberman (CT)
Maria Cantwell (WA)
Evan Bayh (IN)
Mark L. Pryor (AR)
Benjamin L. Cardin (MD)
Jeanne Shaheen (NH)
Kay Hagan (NC)
Republicans (8)
Ranking Member – Olympia J. Snowe (ME)
Christopher S. Bond (MO)
David Vitter (LA)
John Thune (SD)
Michael B. Enzi (WY)
Johnny Isakson (GA)
Roger Wicker (MS)
Republican Leadership Designee (TBD)
