It is very interesting, and of course no coincidence, on the CC they, without being asked, spent 5 minutes talking about the off balance sheet exposure they had to the dealer network. The company wouldn't have spent so much time figuring out it's exposure if they didn't think they were about to get hit with it, to my knowledge they never covered this subject before, at all.
this looks pretty bad for BC and frankly with oil at these levels and the mortgage market starting to remelt things look bad for all of the USA
It has always been believed that the biggest idiot that was ever President was James Polk from New Hampshire, clearly New Hampshire can pass that dubious honor now to Texas.
Deep, I agree about the current President, but things really didn't tank until after the 2006 election. It is obvious that the Federal Government is not capable of accomplishing ANYTHING, either at the congressional level or the presidential level. They are standing on the bank of the river watching the boat sink, but they are still getting their paychecks and the rest of us have to pay.
Brunswick Acceptance Corp, a GE partnership for floor planning boats and GE both are bracing for heavy dealer defaults starting in late August and continuing through the rest of the year. The wholesale market will be flooded with inventory and devaluing the current dealers inventory by 20-30%. It just get's uglier by the day.