Turns out that working capital loans, i.e. floorplan financing, is pinched.
You know this if you listen to Donnie D (more like hear it in the background than l-i-s-t-e-n), but Wagoner confirmed it yesterday. Said that the crunch-related adjustment will hit manufacturer production in January, most likely (maybe down over a stunning 50%).
Friday, December 5, 2008
GM Dealers' Pinch
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