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Wed June 3, 2009
Chrysler, GM heads on Capitol Hill today
WASHINGTON (AP) –
WASHINGTON (AP) - Top Chrysler and GM officials go before a Senate panel today to discuss their transformations.
With thousands of jobs and dealerships about to disappear, Chrysler President James Press and GM CEO Fritz Henderson can expect some tough questions about the upheaval hitting the auto industry.
Lawmakers charge that shutting down dealerships won't do much to help the companies. Some are concerned the Chrysler closings are happening too quickly, with less than a month's notice.
There's a call for the administration to give Chrysler dealers that are shutting down more time to close their doors. Those dealers are also challenging the closings in court.
The Senate Commerce Committee will also hear from some of the dealers. They're also asking that Chrysler be given a financial hand so it can buy back cars parts and specialized tools.