Posted on 05/19/2009 7:14:59 PM PDT by Jet Jaguar
NEW YORK (Reuters) - Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.
The group, which calls itself the "Committee of Chrysler Affected Dealers," filed papers on Tuesday asking the bankruptcy court to delay hearings that would approve the sale and allow Chrysler to reject almost 800 of its dealership franchise agreements, or about 25 percent of its overall dealer network.
The committee, which said it represents nearly 300 dealers in 45 states, said in a statement it needed more time from the court to investigate the issues and present their defense.
"Chrysler's proposed asset sale and request for immediate termination of the dealer franchises will destroy several hundred independent businesses, ruin the livelihoods of their owners, cause the loss of thousands of jobs and precipitate inevitable personal and business bankruptcies," Stephen Lerner, an attorney at Squire Sanders & Dempsey representing the committee, said in a statement.
The dealers are mounting the third major challenge to Chrysler's plan to sell itself to a "New Chrysler" that will be owned by the company's union, Fiat, and the government. The two previous challenges have largely disbanded, as a group of dissident senior lenders dropped their protest and the new company told concerned nonunion retirees last week that it intends to continue their benefits.
(Excerpt) Read more at reuters.com ...
I wished them well. Shame UAW bailout
Poor slobs. They have been robbed, mugged and beaten by a marxist usurper. So much for the Constitution and property rights.
I have no sympathy for the percentage of those "slobs" that voted for The First Thug.
These guys just don’t get it. Why have a bankruptcy judge handle ah...um... a bankruptcy? The great socialist has already handled it, prior case law be hanged. :-/
“PAY TO PLAY”
send Obama money, and you’re stiil open.
Mail to:
OBAMA MOTORS
666 PAYTOPLAY Ave.
Chicago Illinois 66666
Attn: AUTO CZAR
(cash only accepted)
Fight these Mussolini fascists in the White House.
Don't just roll over and let them get away with it.
We need to make the next four years an absolute living hell for Obammie the Commie and all his little useful idiots and goose-steppers that put him in office.
Probably, its the slobs that have retained their dealerships. Its the folks that voted, contributed, and/or campaigned for McCain/Palin and other offices on down that are being robbed, mugged and beaten by said marxist usurper.
I want to puke.
I am glad to see this. Government has no business interfering in private business.
Those that voted Obama....were NOT on the “closed” list.
I was wondering if and when this would happen. BO will not be happy.
I was referring to the dealership owners. I doubt most of them voted for O and if they did they are stupid.
I can assure you that few of them did. New car dealers are a breed apart. The last cowboys, they fancy themselves.
Fiercely independent, highly competitive people who are passionate about cars, their employees, their dealership and their customers.
New car dealers are the quintessential "small businessmen" who are the backbone of conservatism.
Obama can be confident that he stuck it to a group largely composed of political enemies.
Anyone know how to tell if an insurance company took TARP funds? Is there a website somewhere that lists who got some?
Just asking because I got a mailer today from “Chrysler Auto Insurance Group”, which in the fine print it says that it’s actually AIG.
The price is tempting, but I don’t really want to have anything to do with a psudo-GSE. So, I want to see if my current insurance company took TARP funds to determine if I need to go shopping around.
I think we will find that these are Republican leaning owners.
YES...THAT’S what I want to see.....ATTORNEYS filing suit against these usurpers....
This is choice. 300 dealers in 45 states. Obama’s goon squad may be spread too thin to have an impact.
I imagine there is racism involved in the selection of dealers to stay and dealers to kick out.
I would agree.
And the obamites descended on Chrysler dealerships TODAY, because the MSM told them the dealerships going out of business would sell their cars for 1/2 price, or less.
I heard the same thing on the 'TV' yesterday, and heard from the car salesman today about their experiences, and saw it myself.
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