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John and Joan Rutherford of Golden, Colo., bought one of the two cars Medved Chevrolet sold in Wheat Ridge on Monday - a metallic black 2009 Malibu.
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Medved also suspended the company's 401(k) matching program and restructured the health insurance plan to save money. Medved has cut more than half of the 600 employees at all his dealerships in the past couple of years. "This store in 2002 was selling 230 Chevrolets a month - now we're selling about 50 a month," he says. He says his Chevrolet dealership in Wheat Ridge, Colo., is the busiest in the state, but that's not saying much these days. Medved has a direct stake in what happens to GM - eight of his 18 dealerships sell GM products. "I think that it's a statement to the union and the bondholders that either you make a deal or we will pull it into bankruptcy." 1 hostage and saying, 'We're for real,' " Medved says. "I guess it wouldn't be any different than shooting the No. Medved says the Obama administration was just trying to send a message. Medved, the owner of Medved Autoplex in Colorado, says Wagoner was doing a good job reforming the huge company. John Medved is not happy with the White House move to oust General Motors CEO Rick Wagoner. John Medved, owner of Medved Autoplex in Colorado, says he is disappointed that the Obama administration forced out GM CEO Rick Wagoner.