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Show Sat/Sun/Mon/Tues, May 2-5, 2009 The Park Record B-10 5 Park City GM dealer 'not worried about closures Chevrolet not going away, says Mike Hale By ANDREW KIRK Of the Record staff General Motors will begin closing dealerships across the country next week - a crucial move as it struggles to remain in business. Park City's Mike Hale Chevrolet is vulnerable just for being a GM dealership, but Hale said his dealership will remain open. The auto manufacturer promised to move fast in trimming the company Monday and held a teleconference with dealerships Tuesday to explain details. Spokesperson Susan Garontakos said which dealerships will close has not .been announced yet, but dealers will be notified starting in early May. People who watched the teleconference Tuesday said the company's criteria for selecting dealerships to close was vague. In an interview Wednesday afternoon, Hale said he's not worried. "I'm not going anywhere. We're so into the community," he said. "We're not worried. Chevrolet is not going away." Once a dealership has been selected for closing, GM will honor contracts to repurchase vehicles that meet set terms. Garontakos said she knows dealers are. very concerned. "This is a big deal, it's no small matter," she said. The announcement of the closures comes almost simultaneously with the arrival of the new and highly anticipated Chevy Camaro. Excitement over the vehicle has been brewing since 2006, and it's arriving at dealerships now* said Adam Denison, a Chevrolet spokesman, The company has pre-sold 14,000. Mike Hale called it a "home run" and "new deal." But rather than mixed news, Hale suggested it as further evidence that Chevrolet dealerships are well situated and will not be among the massive cuts to start soon. "Unfortunately, some dealers, who are my friends, are going to have to go away. Pontiac, Saturn, Hummer, Saab - they're gone," he said. That was his forecast, but Hale said Chevrolet is sta- CITY DAVID RYDEFWWHK RECORD Mike Hale not worried about GM dealership closures. RAIN GUTTER • Continued from B-9 Gutter Stimulus Package Let us bail you out • Take advantage of low spring pricing Free estimates in Park City, Heber City and surrounding areas • We install • Copper - Painted Steel - and Aluminum Rain Gutter Also Snow Melt Systems Need your gutters cleaned? We do that too! Licensed and Insured Park City Residents Since 1976 ble and is as American as baseball and apple pie. They make better trucks than Japanese companies, he said. Hale also predicted that dealers in rural areas will be at risk, as will those with a lot of debt. Over on Rasmussen Road, Hale said his building is paid for. While it's difficult news, Hale said he's optimistic about the future. He called the current situation a "cleansing" and related it to what's happening in the banking and mortgage industries. GM needs to restructure and may declare bankruptcy, but everything will "turn out to be a real positive," he said. Hale said his heart goes out to everyone who will be hurt by the ripple effect, including tire and part manufacturers. Efficiency will improve, though, he said. "It's certainly not all gloom and doom," he said. Call for your free estimate 435-649-2805 www.pcraingutter.com Real estate down in other towns That's making homes far from slopes or shores more affordable, resulting in properties under $500,000 being the strongest part of his market. Homes priced at $1 million to $2 million are big and luxurious, but a few blocks from the water. Without the views, they are the weakest part of his mar- ket. In Wyoming, the most affordable homes are the oldest, making them the least desirable and most over-priced, Delay said. He's seen a lot of recent activity in homes topping $5 million, which is giving him hope, he said. Homes more than $5 million are also selling OK in Vail, as are those less than $2 million. Geography mostly accounts for the weakness in the middle range, McDowell explained. All three agreed that a lot of buyers are "looking for blood," in the words of Delay, but owners aren't willing to lower prices. McDowell said people from Denver are pouncing on foreclosures, which have been as frequent as one per day. There aren't enough jobs in Vail, however, making it a weaker market for primary residences. Williams worries that buyers are being too shortsighted. Great deals aren't always good long-term investments, which is why people buy real estate in the first place. Delay has more buyers waiting in the wings than ever before. As soon as transactions pick up, there'll be a ripple affect, he said. Bill Delong, a Park City agent, said it was reassuring to learn that "we're not alone out there." Nothing he heard was a "shocker." The information also made him optimistic that the bottom of the market has arrived, or it's close, he said. snge Mountain Sage INTRINSIC NATURE. WE.LLNLSS Natural Health and Acupuncture. LLC Open House Range - Pilates and Gyrotonic, Mountain Sage Natural Health and Acupuncture and Intrinsic Nature Wellness Invite you to join them for an OPEN HOUSE Thursday May 7th 5-8pm AT Range Studio 2064 Prospector Ave. Park City near the Grub Steak refreshments and hor's ouvres silent auction pilates, gyrotonic, qi gong and tai chi presentations free chair massage call 435.655.1816 for more information i i when you purchase a j combination of 2 services i |