Rep. Perlmutter to work on measures to help car dealers - Tampa Bay Business Journal:

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Both companies have filed for Chapter 11 bankruptcy and both have notified dealerw inColorado -- at least 12 for at least 13 for GM -- that they will lose theifr franchises to sell new cars. "As we work our way througbh the aftermath of both the Chryslee andGM bankruptcies, I am committed to trying to cushio the blow to the partiesz caught in the aftermath of the bankruptcy filings, and I am in the process of workinh on measures to help dealerships who are losing franchiseas as part of the bankruptc agreements transition and develop news business models," D-Golden, said in a statementr late Monday. Perlmutter is a member of the Housew FinancialServices Committee.
"My thoughts are with these businesses, theif employees and the families as they work through thesedifficulyt times," Perlmutter said. "I will continue to followq this situation and work with the House Financia l Services Committee to take appropriate action where necessary to help stabilizer our auto industry because it is essential to ournationakl security, protecting American jobs and maintainintg the manufacturing industry in this countrh to keep our auto industry running.
" Tim president of the Colorado Automobile that he and some Colorado car dealers plan to travel to Washington soon to try to convince lawmakerx to come to the dealers' aid through Perlmutter said he concurs with the decisionm of both automakers, guided by the Obama administration, to seek Chapte r 11 protection while they re-organize. "o believe Chapter 11 is only way for GM to restructure and deal with theie financial situation in a complete fashion to come up with an organizationb that can compete and Perlmutter said.