A few weeks ago, I talked with the Iowa Automobile Dealers Association, which told me it had heard from about two dozen General Motors' dealers in the state. The dealers received a letter from GM that said the company no longer wanted them as authorized dealers for GM dealers. IADA's President Gary Thomas tells me now he has heard from 35 dealers who have received the notice. And he said, not that GM is filing for bankruptcy protection, he expects another 10 to 15 dealers to get the dreaded notice in the days ahead.
Here's the tv story I did on this: