2019 Robby Gordon Headquarters
More GM Troubles?
With all the rumors of Robby possibly headed back to Chevy, I thought this was of interest...
"Scottsdale, AZ., Sept. 24, 2008 - According to Automotive News' Chrissie Thompson, Bill Heard Enterprises, the country's top Chevrolet dealer group, is closing the doors at all of its 13 dealerships at the end of business today, according to a person with knowledge of the situation.
The company notified the stores' general managers at 2 p.m. today, the source said, who spoke anonymously because he was not authorized to speak.
High fuel prices, cancelled floorplanning from GMAC Financial Services, a reliance on trucks and SUVs, a soft national economy and struggles in local markets had troubled the company, which on Sept. 12 closed its store in Scottsdale, Ariz.
In the end, the company could not raise operating capital and could not finance its floorplan, the source said. Company officials have discussed closing the company since Friday, the source said.
Bill Heard Enterprises, of Columbus, Ga., ranks No. 13 on the Automotive News list of the top 125 U.S. dealership groups, with 2007 group revenue of $2.13 billion.
I have read that if GMAC started having trouble, that would be big trouble for GM.
To let the #1 Chevy dealer go belly up is uncharacteristic. Could be just the beginning.
"Scottsdale, AZ., Sept. 24, 2008 - According to Automotive News' Chrissie Thompson, Bill Heard Enterprises, the country's top Chevrolet dealer group, is closing the doors at all of its 13 dealerships at the end of business today, according to a person with knowledge of the situation.
The company notified the stores' general managers at 2 p.m. today, the source said, who spoke anonymously because he was not authorized to speak.
High fuel prices, cancelled floorplanning from GMAC Financial Services, a reliance on trucks and SUVs, a soft national economy and struggles in local markets had troubled the company, which on Sept. 12 closed its store in Scottsdale, Ariz.
In the end, the company could not raise operating capital and could not finance its floorplan, the source said. Company officials have discussed closing the company since Friday, the source said.
Bill Heard Enterprises, of Columbus, Ga., ranks No. 13 on the Automotive News list of the top 125 U.S. dealership groups, with 2007 group revenue of $2.13 billion.
I have read that if GMAC started having trouble, that would be big trouble for GM.
To let the #1 Chevy dealer go belly up is uncharacteristic. Could be just the beginning.
Views: 93
Replies to This Discussion
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Permalink Reply by Mike/WC77 on
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Yeah, thats big shit if gmac can't finance floors plans. Not too many stores can buy their own,& GM isn't floatin anybody....not good
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Permalink Reply by Bigzoom on
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From Huntsville Alabama
Bill Heard Chevrolet has closed its Huntsville dealership and 12 others effective immediately.
The Columbus, Ga.-based parent company, Bill Heard Enterprises, issued a statement this afternoon that blamed a difficult business environment and said it "simply did not have the resources needed to continue to operate."
Officials at the local dealership, 4930 University Drive, declined to comment.
Shortly after 1 p.m. today, employees at the Huntsville store were asked to gather and told the dealership was closing and they should leave the premises, said one employee, who asked not to be identified.
The employee estimated that the Huntsville store had more than 100 employees. He said their questions about final paychecks were not addressed.
Bill Heard Enterprises lost its line of credit with GMAC last month. That prevented the company's dealerships from restocking inventory.
At one time, Bill Heard Enterprises was the nation's largest Chevy dealer.
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those things are great lil rides, basicly a cobalt wagon, wearin a zoot suit.
cool lil rides though,& great build quality.
In case ya didn't know, I used to sell Chevys. I was a GM certified consultant,& C6 specialist.
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Permalink Reply by Sarah on
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I was told by our Chevy rep last week that GM is restructuring the employees and their job assignments (again!). He has worked for GM for almost 30 years and previously worked in the Olds. division. He was told if he does NOT take the buyout, he could be assigned to an overseas position. He and others have until Nov. 1st to make their decisions. He also mentioned the closing of GM dealerships. Too sad for words!
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Permalink Reply by GrayAntiMatter on
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Yup....this is what happens when they're helping people mismanage their money by overextending credit....
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Permalink Reply by john mcglasson on
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This guy has a $50 mil lawsuit against him, his credit cut off by GM, and countless false-advertising suits against him, it's got nothing to do with GM, though they are in big trouble, even with the bailout.
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Wow, glad to hear theres more to it. I'd also say good riddance then. That was the hardest part of selling cars. 90% of the people who come in have the pre-conceived notion that your a rotten scumbag lying salesman. The sooner POS dealers like this are closed, the sooner that perception goes away. Believe me there's plenty of sharks sniffin for blood, but there's also plenty of family guys, & regular car nuts (thats where I fit in), just tryin to do a job out there.
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Permalink Reply by Racingwench on
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Here we have had 4 dealerships close in the last 3 weeks with no notice 2 out of the 4 have been GM dealerships. I am sure we are to see more
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Permalink Reply by Mike Kenyon on
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It's only my opinion( and some of my friends in the GM biz)-the herd needed thining.You
dont need a dealership in every berg-I have 3 GM stores between my house and work.
Mike
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Permalink Reply by Murf on
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yeah but he had 13 dealerships...his overhead was probably re-damn-dickulous. He was so in the hole to gm that they had not alternative...
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