Just two days after the General Motors bankruptcy was announced, Democratic and Republican senators slammed the company and it’s equally troubled cousin Chrysler for their plans to close thousands of auto dealerships. "It’s a nationwide tragedy that a lot of us feel very strongly about,” Sen. John Rockefeller (D-W.Va.), chairman of the Senate Commerce, Science and Transportation Committee, said Wednesday ... John McEleney, chairman of the National Automobile Dealers Association, urged the administration to provide Chrysler with the financing to buy back surplus vehicles and parts from terminated dealerships, something that the company is not promising to do under its bankruptcy terms, and to give the closed dealerships more time to wind themselves down. “No manufacturer has ever imposed such onerous terms or such a tight deadline,” McEleney said.
Source: Politico
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