Thursday, April 22, 2010

Owner Of Frank Myers Auto Responds To News Of GM Loan Payback

Ed Whitacre, General Motors Chairman and CEO, announced Wednesday that the automaker has paid back $8.4 billion in government loans related to its historic restructuring.

The final payment of $5.8 billion to the U.S. Treasury and Canadian development interests has been made about five years ahead of schedule, and includes interest, Whitacre announced to a crowd in Kansas City.

“It’s great news from my perspective because if you think back only a year ago General Motors was shedding a lot of workers, their volumes were going down and there was a lot of despair in the auto industry as they (GM) headed towards bankruptcy,” Tracy Myers, owner of a North Carolina car dealership, said following the announcement. “The landscape of the company and our entire industry is so much different than it was a year ago and as a result consumer around the world should feel pretty good about buying GM products again.”

Whitacre’s message was delivered amid a ceremony held in Kansas, where a nearby GM plant and another in Detroit will share $257 million in investment related to the company’s popular Chevrolet Malibu sedan.

Of Whitacre’s message, Myers said two good things he takes away from it is that the money has been paid back and the automaker is announcing investment.

ABOUT TRACY MYERS, OWNER OF FRANK MYERS AUTO MAXX - The original Frank Myers Store was started more than 83 years ago by Frank Myers, the Great-Grandfather of the current owner Tracy Myers and the Grandfather of the previous owner, Franklin Myers. Tracy has spent the past 15+ years trying to change the landscape of the car business and the bruised reputation of car salespeople all over the country. Tracy was one of the first 100 Certified Master Dealers in the Nation, a NIADA Eagle Award Winner and was the youngest recipient ever to be honored with the highest available distinction in the used car industry...the National Quality Dealer award. Frank Myers Auto Maxx was recently recognized as one of the Top 28 Independent Automotive Retailers in the United States by Auto Dealer Monthly Magazine, one of the Top 10 Internet Auto Retailers in the Nation & one of the Top 3 dealerships to work for in the country by The Dealer Business Journal. Tracy is also the Co-Creator of the world famous "Everybody Rides" program and author of the best selling book "Car Buying Secrets Exposed: The Dirty Little Secrets of a Used Car Dealer", available at and better bookstores. He is a Christian Business Owner whose goal is to run his business "By the Book". The dealership specializes in helping people find, qualify for and own the vehicle of their dreams with little or no money down...even with less than perfect credit.

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