Also in this playlist...
This transcript is automatically generated
I -- Memorial Day weekend is traditionally one marked by big sales for dealerships with auto -- creating incentives from 0% financing to special discounts.
With all the changes going on both Chrysler and GM.
All the savings incentives will the deal is actually move vehicles this weekend joining us right now Sharon -- -- of Dow Jones Newswires and -- and error.
Is the owner of the island GP in Long Island which is being shut down unfortunately by -- good morning guys thanks so much for being here.
-- -- GM not good to see you -- million unfortunately you got the bad news from Chrysler just about a week ago about the future of your business I was Thursday morning.
This is normally.
A very busy time of year if you guys right.
What do you expect to deal how are you preparing for that -- ninth deadline.
Oh boy well we're getting our inventory down and I got to tell you with the media are.
Give -- all this publicity it's just been unbelievable.
We're so busy with selling twice the amount -- cause we normally do.
So I really want to thank everybody for that.
-- been unbelievable my shoulders jammed with people new -- -- cause service.
It's just the response is overwhelming I mean unfortunately it's not a happy occasion.
Like your flooded and people are coming in what you do next pass -- -- ninth deadline.
If you have more vehicles left on the lot because that's the deadline by which basically the warrant -- that -- I should say not the warranty but here.
A part of Chrysler as opposed to not being part of Chrysler.
Do you keep the dealership -- line -- you look to move into another area of the business.
Well you know everybody asking that and I'm not given -- I'm not given up the franchise that -- I've got.
A lot of legal team's going after this thing I've reached out to Alan Dershowitz to.
Hopefully -- come on board with me and fight this in a constitutional possibly Fifth Amendment.
Type of strategy.
It's -- -- given up it's as simple as that.
You know -- and we talked to a lot of other people who certainly don't want to give up as well but that time and the clock is ticking and time is running out.
What's the very latest that you're hearing on GM and now this new investment in GM may say.
-- -- -- -- Less than two weeks now to either you get their plan in place or file for bankruptcy the G Mac clones will definitely help it.
Sales are down actually even farther it looks like it he and then at Chrysler and they need they need to be able to -- loans their -- dealers need financing.
And so they're really the -- is definitely taking.
And -- and as I understand it when you put together and had kudos to you guys for figuring out all the dollars and cents invested in here.
It appears is so when you look at every part of the business from Chrysler -- GM to the financing arms to what would be doing and health programs and things of that nature.
That we've invested upwards of fifty billion dollars and we could be headed toward a hundred billion dollars.
And -- may not see that money come back to the US taxpayer or the US government true.
Yes that's true that it could be it couldn't reach a hundred million dollars -- -- now we had -- the loans to GMAC and the growing loans to GM and Chrysler if GM goes into bankruptcy -- -- substantial funding required for that and then you have.
Department of Energy loans that that will be invested into the companies to help them.
-- more fuel efficient vehicles and a lot of this money when -- paid back at a lot of it will -- coming stake in the companies the government.
Won't get their cats but they'll end up owning a big part of GM and -- -- -- a majority stake in fact in both companies.
-- mommy to be the last word what is it that you want people at home know about your Jeep dealership and the future of your brand and the Chrysler brand.
Well you know -- is never going to go away.
That might -- it might have different owners of Chrysler microwave dodge -- go -- Jeep will always be there.
It's an American icon.
I mean my -- in particular I felt a lot of servicemen.
An awful lot of veterans.
That's why this Memorial Day is -- it's always a little.
Kind of double sided I never know whether idea I should promote it because it's a very solemn day and it's a data reflect on on.
All these you know great people who've given their lives for our country so I really I'm not big on promotions and a -- that it's not.
It's not something -- -- -- people command that buy cars.
Are right they they know where there and it's working out great.
That's why all these people are coming into your show -- because I'm sure you've had a tremendous impact on your community.
She and wonderful having me here.
Think that's up to date and best of luck this weekend and and in the future -- until we decide to do anything decide to hire mr.
Dershowitz because they love to have you guys back on.
Sharon thanks so much for updating us on the very latest.
Filter by section