Amador County – Prospect Motors in Jackson isn’t the only local dealership to close its doors recently. Plummer Pontiac and Cadillac on East Kettleman Lane in Lodi closed its doors on Wednesday, putting approximately 58 people out of work. This closure is in the wake of another major Lodi dealership, Geweke Chrysler Jeep and Dodge, closing down three weeks ago. Ten jobs were lost as a result. A Volkswagen dealership in Tracy closed and put 13 people out of work in early February. But the largest and most impactful closure so far has been the trifecta of Prospect Motors, Amador Motors an Amador Toyota in Jackson. Eighty two employees lost their jobs when the Amador County dealership closed suddenly and only days before Christmas. Owner Frank Halverson said GMAC pulled its inventory because he was “16 days late” in paying loans on the auto center facility. Halverson’s situation has become an all too common story as dealerships across the nation weather the deepening economic recession. The significance of the Prospect closure and its affect on the county tax base has garnered national attention. CBS News Crews visited the county last week to cover the story for the Nightly News with Katie Couric. Plummer Dealership owner Dennis Plummer said he went to great lengths to negotiate loans with GMAC, but to no avail. GMAC has been making major cutbacks and was recently negotiating with federal authorities to have itself converted into a bank holding company so it could be eligible for part of the $700 billion in federal bailouts. Plummer said that Pontiac and Cadillac generated more than $975,000 in sales tax revenue for the city of Lodi and San Joaquin County last year. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
Wednesday, 25 February 2009 23:38
Dealership Closures
Amador County – Prospect Motors in Jackson isn’t the only local dealership to close its doors recently. Plummer Pontiac and Cadillac on East Kettleman Lane in Lodi closed its doors on Wednesday, putting approximately 58 people out of work. This closure is in the wake of another major Lodi dealership, Geweke Chrysler Jeep and Dodge, closing down three weeks ago. Ten jobs were lost as a result. A Volkswagen dealership in Tracy closed and put 13 people out of work in early February. But the largest and most impactful closure so far has been the trifecta of Prospect Motors, Amador Motors an Amador Toyota in Jackson. Eighty two employees lost their jobs when the Amador County dealership closed suddenly and only days before Christmas. Owner Frank Halverson said GMAC pulled its inventory because he was “16 days late” in paying loans on the auto center facility. Halverson’s situation has become an all too common story as dealerships across the nation weather the deepening economic recession. The significance of the Prospect closure and its affect on the county tax base has garnered national attention. CBS News Crews visited the county last week to cover the story for the Nightly News with Katie Couric. Plummer Dealership owner Dennis Plummer said he went to great lengths to negotiate loans with GMAC, but to no avail. GMAC has been making major cutbacks and was recently negotiating with federal authorities to have itself converted into a bank holding company so it could be eligible for part of the $700 billion in federal bailouts. Plummer said that Pontiac and Cadillac generated more than $975,000 in sales tax revenue for the city of Lodi and San Joaquin County last year. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
