Yesterday Chrysler announced that it was going to shut down 25% of its dealer network, putting 800 dealerships at risk. Today GM is announcing it is going to close up 1,100 dealerships.

The news was a blow to thousands of employees and business owners across the country. However, some dealerships are going to find ways to stay in business. According to the Detroit Free Press, "Leo Jerome, president and owner of Story Chrysler Jeep in Lansing, said he's going to try to stay open and sell auto services instead."

With GM and Chrysler going belly up stockholders in the two companies who tried to buy and hold through the economic turmoil have been wiped out. Once again people are seeing that some sort of basic stock trading strategies are necessary to make money in the market and just putting your money in something and hoping it will go up doesn't work to well in the end.