Word: managerized
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Back at Ganley Chevrolet, the dealership's bank announced in a meeting yesterday morning that it will increase the floor plan rate - the interest on money that car dealers borrow to buy new inventory - by 1.5%. "Which forces me to have less inventory on hand," says Jim Helton, the general...
In the car lots of Cleveland, people at the ground floor of the economy are getting nervous too. In an average month, 260 customers walk through the doors of Boyland Acura in Cleveland. That total dropped to 80 in August, says general sales manager Clayton Hrabik. The few remaining shoppers...
Perhaps that's why sales of economy cars like the Hyundai Accent or Kia Rio, which people need whether the economy is flush or bust, remain steady. Sales dropped slightly last month at Halleen Kia in North Olmsted, a Cleveland suburb. But so far in October they're back to...
But the scale of the envisaged capital injections indicated how large the government anticipates the holes in banks' balance sheets may actually be. The market is also mulling the impact of the government's stipulation that banks participating in the scheme must restrict executive pay and dividends to other shareholders...
Anecdotal reports leaking out of the country suggest that life for some North Koreans is returning to the dark days of the 1990s famines. Families have been scavenging for wild roots and plants to supplement meager diets. Many children have stopped attending school because of hunger, while their parents are...