Jun 3rd, 2009 - Bloomberg
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June 3 (Bloomberg) -- General Motors Corp. and Chrysler LLCwere “just plain wrong” to take taxpayer funds and leave localdealers and their customers to fend for themselves, Senator JayRockefeller said as lawmakers faulted the automakers today.
Rockefeller, leading a hearing on dealership closings, saidChrysler is eliminating 40 percent of its retailers in his stateof West Virginia, and GM is cutting more than 30 percent.“Chrysler gave its dealers less than one month’s notice priorto termination, which is truly unbelievable,” he said.
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Chrysler Dealers Beg Court for Reprieve
Jun 4th, 2009 - Washington Post
NEW YORK, June 4 -- Eldon Palmer was preparing for a grand opening of his upgraded Chrysler dealership -- a $3.2 million project he pursued at the automaker's urging -- when the letter came.
CFTC Chairman Details Derivatives Plan
Jun 4th, 2009 - Wall Street Journal
WASHINGTON -- The head of the federal commodities regulator laid out his vision for how the Obama derivatives regulatory plan should be implemented Thursday, telling lawmakers that any new laws must cover every dealer and every type of derivative.
Brown's UK government teeters near collapse
Jun 4th, 2009 - MSNBC
LONDON - It would be a bitter fate for a former wunderkind who ceded the top job to the Tony Blair for a decade: British Prime Minister Gordon Brown could be forced out just short of two years into the job he has long coveted...
Consumers Seek Relief as Chrysler Bankruptcy Derails Lawsuits
Jun 4th, 2009 - Bloomberg
June 4 (Bloomberg) -- Consumers bringing personal-injuryand product-liability lawsuits against Chrysler LLC and GeneralMotors Corp. are pressing lawmakers in Washington...
Chrysler dealers begin fight against closure
Jun 4th, 2009 - Reuters
NEW YORK (Reuters) - Many of the 789 dealerships that Chrysler plans to close will begin presenting their case to bankruptcy court on Thursday, arguing that the automaker was undermining its turnaround by terminating the franchises.
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2:03GM, Chrysler Defend Decision to Cut Dealerships
Top executives from General Motors and Chrysler faced tough questions from US lawmakers Wednesday on the automakers' decision to drastically scale back auto dealerships in the US Executives from both companies say the cuts are necessary if the automakers hope to overcome bankruptcy and survive ...
2:25Will Terminating Auto Dealers Save the Company?
General Motors and Chrysler executives defended the closings of hundreds of dealerships as they faced sharp criticism from US lawmakers at a House hearing on Capitol Hill Friday [June 12th]. The bankrupt automakers say the cuts were painful but necessary to preserve jobs and brand viability ...
2:15Big 3 Plead With Lawmakers
Automakers are trying to convince lawmakers to give them billions of dollars to weather the financial crisis. Ben Tracy has more.
