General Motors is coming to the rescue of dealers getting squeezed by the slow-moving government bureaucracy that is supposed to be handing out cash for clunkers checks.
GM will advance cash to car dealers who are facing budget holes, the New York Times reports.
This is how the new economy works. The government stuffs billions of dollars into GM. Then GM takes some of that money and gives it to dealers, who are waiting for millions of dollars from the government. When the government check arrives in the mail for the dealers, they forward it to GM. Voila!
General Motors needs its dealers to keep selling cars as fast it can. The automaker just brought back 1,350 employees to make more cars to meet cash for clunkers demand. If the dealers keep pulling out of the program, then GM gets pinched.
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