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Car Dealers Write Off Domestic Franchises

Groups writeoff value of franchises as economy shifts into low gear

By Jim O'Neill, Newser User

Posted Oct 29, 2008 6:36 AM CDT

(Newser) – Two of the largest chains of car dealers report that their domestic auto franchises have become virtually worthless, the Wall Street Journal writes. The companies took a a combined $51 million in writedowns for the third quarter, reflecting disappearing "franchise value"—the measure... Read full story »

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Car Dealers Write Off Domestic Franchises

Groups writeoff value of franchises as economy shifts into low gear

Chrysler • General Motors • automaker • Ford • financial crisis

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Detroit bankruptcies would ripple through entire industry's supply chain

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Ford Courts GM, Chrysler Customers

Helps pay off their loans, trains dealers in 'conquests'

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