Car Dealer Insider May 1, 2009
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Car Dealer Insider May 1, 2009

Dealer suicide - Not an act of cowardice

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Dealer suicide - Not an act of cowardice

(Editor's note: Car Dealer Insider is aware of several franchised dealers who took their own lives in recent months. This is a tragic response to a desperate situation. Nancy Phillips offers her perspective on the situation.)

We all know what is happening to our industry today is life threatening — but few of us have taken that in its literal sense. As one of the people that dealers come to when they need to sell their dealerships, I know only too well that this industry takes it's toll in many ways — financial ruin is but one and sadly, horribly, suicide is sometimes another. In fact it is a more frequent occurrence, especially today, than anyone may wish to consider. As difficult a subject as this may be, it's an important one to have awareness of. We can never know which one of us may have the opportunity to help a fellow dealer who suffers from feelings of suicide.

During my time in business I have worked with and known well three dealers who have died by their own hand. In each instance the factor that triggered the final act was financial disaster. Whether it was unrecoverable loss, an out-of-trust situation, failure to make payroll or the inability to procure the needed capital or replacement floor-plan required to... (219 of 875 words)

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