ocn's former employer goes belly up

[ocnblu]

Bob Smith Automotive Group, aka "The GM Giant", in Easton, MD, has closed recently after GMAC filed a 14 million dollar judgment against the dealership for non-payment of loans. 100 employees out of work, the lot empty. Chevrolet, Pontiac, Buick, GMC and Cadillac were sold there, and Oldsmobile before they were killed. The dealer principal believes his debt can be paid with the inventory taken from his lot, and the dealership is for sale.

This is quite a blow to Easton's economy, a small town on Maryland's Eastern Shore. They were one of GM's largest volume dealers, and won "GMAC's Dealership of the Year" in 2001.

I worked there for 10 years, 1993-2003.

Things are really getting bad out there.

[longtooth]

Unfortunate sign of the times 'blu.

This winnowing looks to continue well into the future.

[Oracle of Delphi]

Just be thankful it wasn't your Ford dealership ...

[HarleyEarl]

While Western Canada hasn't been as hard hit as the US with this deep recession, some things are changing.

Dealerships going out of business is almost unheard of here in Calgary, but I saw a local Saturn/Saab dealership ad

delaring 'closing doors forever'.

I don't know the particulars, but sad to see this happen.

[HarleyEarl]

Bob Smith Automotive Group, aka "The GM Giant", in Easton, MD, has closed recently after GMAC filed a 14 million dollar judgment against the dealership for non-payment of loans. 100 employees out of work, the lot empty. Chevrolet, Pontiac, Buick, GMC and Cadillac were sold there, and Oldsmobile before they were killed. The dealer principal believes his debt can be paid with the inventory taken from his lot, and the dealership is for sale.

This is quite a blow to Easton's economy, a small town on Maryland's Eastern Shore. They were one of GM's largest volume dealers, and won "GMAC's Dealership of the Year" in 2001.

I worked there for 10 years, 1993-2003.

Things are really getting bad out there.

Blu, there's something so utterly sad about a closed down car dealership. It's like a death. These are troubling times.

[Teh Ricer Civic!]

Blu, there's something so utterly sad about a closed down car dealership. It's like a death. These are troubling times.

Like a forest, the economy has to burn itself down every once in a while to come back as strong and green as ever.

That being said, i feel sorry for the 100 people who lost their jobs. Hopefully they will be able to find work somewhere else.

Edited February 20, 2009 by Teh Ricer Civic!

[daves87rs]

That sucks..I hate to see dealerships close...

[DBeaSSt]

Oh my! I always enjoyed looking at all the shiny GM's when driving by on my way to Ocean City (MD)

Very sad to see such a large dealer closing. Typically the larger dealerships are the ones able to weather tough economies better than smaller ones. Scary.

[caddycruiser]

Wow, I'm SO close to there but somehow never knew this happened.

Very recently, even, they still had a commercial running on a local news station with the owner (as usual) saying never a better time to buy, etc., etc. They were one of the big ones, for sure.

Locally, on Delmarva at least in the southern area where I live, we lost a Ford dealership that was probably the most popular in the area who first transitioned to an all used car place (Millsboro Ford-->Car City of Delmarva) that never worked out and went belly up, followed by a Chrysler-Dodge-Jeep dealer at the beach who also cut their franchise and moved to used only (Wright Chrysler-Dodge-Jeep -->to Wright Used Cars) that is still open but looks horrible and has no sign even, and now the GM Giant. The biggies Hertrich and Preston, with multiple complexes, are still open and my GM friends down in Lewes at Lewes Auto Mall (formerly CP Diver) are still doing well enough post new owner, new name, etc. and we still have one Ford dealer. Otherwise, eek.

When buying my G8 very recently, a lot of the decision actually came down to the specific dealer and in the end I chose a much smaller, "hometown" dealer but in Jersey and was thrilled at every step of the process. My dollars didn't go locally, but still, they went 2 hours away and will help keep what seems to be a pretty active little place with great reviews pumping along.

Oy...wonder why I didn't know this. Hmm...