A Prime Example of Our Economic Status

With no notice, the 11th largest dealership in the United States closed the doors on 13 dealerships around the country last Wednesday. Bill Heard Enterprises, based in Georgia, was been in business for 89 years (since 1919) and was the country's largest Chevrolet dealership chain of Chevy dealers in the country.

Two of the dealerships, Bill Heard Chevrolet and Vista Chevrolet were located in Las Vegas, Nevada. The rest were in Georgia, Florida, Alabama, Tennessee and Texas with a total of about 2,700 employees.

While Bill Heard Enterprises didn't return any phone calls, they did release a statement to the media.

Business shuts LV auto outlets: "'Rising fuel prices, a product portfolio of mostly heavy trucks and sport utility vehicles, economic recession, unfavorable local market conditions for vehicle sales, the crisis in the banking and financing sectors, and other factors all combined to create a business environment in which the company simply did not have the resources needed to continue to operate,'' according to the statement."

(Via Las Vegas Review-Journal.)

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Financial, Gas Prices, Economy