Sunday, July 18, 2010

Dealership Closings Were Wrong: SIGTARP

Well, well.

....President Obama's push for General Motors and Chrysler to close thousands of dealerships across the country as part of their government bailouts "may have substantially contributed to the shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls, all based on a theory and without sufficient consideration of the decisions' broader economic impacts."

Thus says a report from the Inspector General/TARP which will be issued today.

Oh, yes, there's more. is questionable whether the closings were "either necessary for the sake of the companies' economic survival or prudent for the nation's economic recovery."

No doubt the results of ObamaCare will be much, much, better.

HT: Examiner

1 comment:

Tim Morrissey said...

.....except, the automakers in question themselves battled the dealers association(s) for years, trying to get them to reduce the number of retail outlets......