Reuters: Anger and sadness as axe falls on U.S. Chrysler dealers

Dealers across the United States reacted with a mixture of anger and sadness on Thursday to word that bankrupt automaker Chrysler LLC plans to eliminate franchise agreements with them as part of its restructuring efforts.

But most, even those surprised by the news, entertained little hope they could stop Chrysler from following through on the proposed closures, the latest chapter in the decline of a company that was — for a brief period in the 1990s — the most profitable car manufacturer in the world.

As a result, the dealers said they were already taking the sad but necessary preliminary steps to close or consolidate businesses that, in many cases, had carried their family names as well as those of the automaker for generations.

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Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Office of the President, Politics in General, President Barack Obama, The Possibility of a Bailout for the U.S. Auto Industry, The September 2008 Proposed Henry Paulson 700 Billion Bailout Package

One comment on “Reuters: Anger and sadness as axe falls on U.S. Chrysler dealers

  1. Kendall Harmon says:

    This led last night’s NBC evening news: