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March 10, 2008
Ford offers to buyback 81 storesFord is offering a one-time buyout to the 81 members of its dealer development program, according to Automotive News. Most of them are minorities. Under the terms of the offer, Ford will refund their full investment if they give up their Ford or Lincoln-Mercury dealerships, even if their current stake is worth less than their original investment, accoring to Automotive News. The authorative industry weekly news magazine said Ford will offer an additional $100,000 to operators whose dealerships are their only source of income. Automotive News said the dealer development program gives would-be dealers who lack adequate capital an oppportunity to acquire their own stores. Over the past two years, Ford has eliminated 340 stores overall, leaving it with 4,056 nationally. "Ford is taking this action as part of an effort to ensure a sustainable dealer development program," Automotive News quoted Ford program director Jamy Hall in a letter Hall wrote to dealers. It cited Ford as saying the planned closures
Posted by Peter C. T. Elsworth Glamour and Cars? It’s Still the SwissCheck out this solid rundown of the The Geneva Motor Show from The New York Times' Jerry Garrett:
The Bentley GTZ by Zagato The Geneva Motor Show remains a throwback to the time when auto shows were celebrations of the industry. Glamorous women, wearing the latest fashions from Paris and Milan, still pose provocatively next to gleaming cars as waiters pass by with caviar and pricey Champagne. During the press previews at other auto shows, most of that glamour has faded away — the Champagne fountains dried up long ago and the foie gras has been replaced by chili dogs. That reality will return in two weeks when the whole assembly reconvenes, sans the Geneva-style flamboyance, for the New York International Auto Show.
Posted by Peter C. T. Elsworth Gas Prices Up 9 Cents From 2 Weeks AgoCAMARILLO, Calif. -- A survey says the national average price for gasoline rose 9 cents over the last two weeks, according to the Associated Press. The average price of self-serve regular gasoline on Friday was $3.19 a gallon, mid-grade was $3.31 and premium was $3.42, according to the Lundberg Survey of 7,000 stations nationwide released Sunday.
Posted by Peter C. T. Elsworth |
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