Washington, D.C. - Senator John D. (Jay) Rockefeller IV issued the following statement after sending a letter to the Chief Executive Officers of Chrysler LLC and General Motors Corporation urging them to reconsider their decisions to terminate their franchise agreements.
“Small businesses need Congress to stand up for them, especially in these trying economic times,” said Rockefeller, Chairman of the Senate Commerce, Science and Transportation Committee. “Chrysler and GM Dealers are facing significant financial losses due to an overwhelming inventory of vehicles and parts, placing them in an extremely difficult financial situation. I urge Chrysler and GM to reconsider their decisions to terminate these franchise agreements and develop a more reasonable transition period to allow franchises to stay open beyond the June 9th date.”
“These companies cannot be allowed to take taxpayer funds for a bailout and then leave local dealers and their customers to fend for themselves with no real notice and no real help.”
A copy of the letter is attached below.