Any delay in making the $12 billion trickle into the real economy would have devastating effects on the dealer network in the country for a couple of reasons. Number one, there is definitely a credit drought right now, so dealers are unable to finance their operations. The timing of this is particularly crucial, because since November and running right through until early spring we have been in the period of the year where vehicles are typically not sold even at the best of times.
We are a highly leveraged industry that cannot survive with the kinds of declines we are seeing. The average dealer in Canada right now has about $7.5 million worth of debt. That's a wholesale inventory primarily, parts and so on. When you're looking at the kinds of numbers we're looking at now, where the bottom has literally fallen out of the market, with a 53% decline for General Motors, a 43% decline in sales for Honda, no one can restructure fast enough to be able to keep up with that. It would be devastating, and I fear we will lose large numbers of dealers. That will impact communities across the country.