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Huge US Porsche dealer files bankruptcy

 
Old 05-09-2009, 04:04 PM
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Ronan
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Default Huge US Porsche dealer files bankruptcy

Wonder how Canadian dealers are doing?This was the biggest dealer in the US.

http://southflorida.bizjournals.com/...4/daily70.html
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Old 05-10-2009, 11:27 AM
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justinsrx7
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Shocking. Now VW Credit will lose, and there goes advertising revenue for DuPont Registry and Robb Report and other high end magazines that they used to advertise in. And the trickle down effect continues. Kind of unrelated, but I picked up a MAXIM magazine at the store the other day and it was as thin as a Mad Magazine. They have obviously taken a huge hit.
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Old 05-10-2009, 01:19 PM
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well VW loans are secured so they are actually okay , they have property and cars they can take back in e lieu of payment , allbeit cars and property depreciated in the current economy. The rel people who stand to lose are porsche with 153,000 in UNsecured loans ... but that said , it is about the same as well equiped 997 C4s.
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Old 05-14-2009, 01:32 PM
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Note this is classic "chapter 11 Bankruptcy protection", they are actuallly dodging the "shut it down and liquidate" bullet for at least the moment, and may be able to emerge on the other side - a stronger and leaner organization.

Or not.

RK
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Old 05-14-2009, 02:02 PM
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Zookie
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oh noooooesss what goona Happen to my Wheels?
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Old 05-14-2009, 10:38 PM
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Dale Gribble
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Originally Posted by Zookie View Post
oh noooooesss what goona Happen to my Wheels?
you'll be fine..i had a small heart attack till i read that the racing and wheel divisions will be unaffected.


...u could always sell em to me tho if u want. i will offer you a pittance, to be paid in 50 equal installments of 1/50th of a pittance.
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Old 05-15-2009, 02:13 AM
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Originally Posted by DeAd-EyE View Post
...u could always sell em to me tho if u want. i will offer you a pittance, to be paid in 50 equal installments of 1/50th of a pittance.
DUDE FOR THE MILLIONTH TIME, WIDEBODY!!!!!!
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Old 05-15-2009, 08:27 AM
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Originally Posted by Zookie View Post
DUDE FOR THE MILLIONTH TIME, WIDEBODY!!!!!!
My car is worthless...sell me the wheels cheap enuff and i'll roll/pull the fenders :P
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