Rep. Perlmutter to work on measures to help car dealers - The Business Review (Albany):

zemlyanikiyri.blogspot.com
Both companies have filed for Chapter 11bankruptcy protection, and both have notifief dealers in Colorado -- at least 12 for at least 13 for GM -- that they will lose theirf franchises to sell new "As we work our way through the aftermath of both the Chryslerf and GM bankruptcies, I am committed to trying to cushion the blow to the parties caught in the aftermathn of the bankruptcy filings, and I am in the procese of working on measures to help dealerships who are losinfg franchises as part of the bankruptcy agreements transition and develop news businessw models," Perlmutter, D-Golden, said in a statement late Monday.
Perlmutter is a memberr of the House FinancialServices Committee. "My thoughts are with thesde businesses, their employees and the families as they work through thessdifficult times," Perlmutter said. "I will continur to follow this situation and work with the Housd Financial Services Committee to take appropriated action where necessary to help stabilize our auto industry because it is essential to ournational security, protectingg American jobs and maintaining the manufacturing industrty in this country to keep our auto industry Tim Jackson, president of the Colorado Automobilde Dealers, that he and some Coloradoi car dealers plan to travel to Washington soon to try to convincwe lawmakers to come to the dealers' aid througbh legislation.
Perlmutter said he concurse with the decision ofboth automakers, guided by the Obamsa administration, to seek Chapter 11 protectioj while they re-organize. "Iu believe Chapter 11 is only way for GM to restructure and deal with their financial situation in a complete fashionj to come up with an organization that can competseand succeed," Perlmutter said.