Spotlight on America's Car-Mart

" And now you got a sense a little bit of the consumer now -- talk about a longer term back here on the New York market. But we want to talk now more in depth about what is going on for so many Americans especially in the heartland of this country. The credit crisis affecting many Americans dreams of getting tastes aren't there is perhaps no better indicator. And people who buy used cars in terms of their view on the economy joining us does gets out though is chairman of America's car mart it is one of the largest used car dealerships across the country. And I -- area not -- 93 of them I believe search across south central United States so increasing your being with us TJ and that's that's -- and it like to be referred CO. Can I just ask you set the stage for a lie about exactly. Where you based what you sell at what price point."

" Sure we're based in Bentonville Arkansas been in business since 1981. And I -- three dealerships press. For the most part south central United States Arkansas Oklahoma Texas Alabama. -- is now smaller cities and small towns and our rural America we're truly feel in middle America."

" And and what would you say in my I've read somewhere that average prices are just tell -- summer as the 89000 dollars that's."

" Correct its basic transportation is there there Carlos and necessity for our -- addition to work school Church. A lot of pickup trucks -- an underachieving using with high gas prices. It's it's a necessity for our customer where we're located. There's no mass transit to speak of and so you need a car to get around. And most of our customers can't afford. You know new cars or later model used cars so alone they have 8500 so are so price corridors -- a -- target folks --"

" Wall Street they would look at that group of people and say there would be no better indicator for whether this economy's going and a recession. Are these people able to get credit are they paying off their loans to you what DC on the ground right now."

" You know that's a good question we just finished a quarter which is thought of Bergen quarter for us with questions. Our our. Receivable were current. Sales which in -- to me that two things one is our customers are doing relatively well again. I would -- Wall Street sometimes is really affecting main street in the same same fashion. But also some of the folks who may have brought -- Currently can't get credit are now coming to our dealerships that we offer credit. Where the -- business actually gets better when the credits that you know where is it really does for a customer they're took real savvy the traditional credit to. For folks and I and I and I sometimes are bad credit foreclosures and -- homes unfortunately your had a car. Repossessed and now they need to -- kilometer car encounter some -- America's car market by used car."

" bottom line before we go taking everything into account. Are we going to have a recession this country are are we already and one."

" You know from what I Seattle thanks so there are folks who work and and in this sort of this thing's going and in the economy there there are bigger than us but -- saying -- well that is a positive way of seeing things now is like it when there's assault lining TJ appreciate your being with us today my pleasure thank."