Tags: US | Auto | Dealers

Report Criticizes Handling of GM, Chrysler Dealers

Sunday, 18 Jul 2010 03:24 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

A government watchdog is criticizing the Treasury Department for urging General Motors and Chrysler to quickly reduce the size of their dealership networks — a move that cost jobs during the recession.

The special inspector general for the government's bailout program says the Treasury didn't do enough to make sure that speeding up those closings was necessary for the companies' long-term health.

The report says the Treasury's decisions may have contributed to the closing of thousands of small businesses and cost tens of thousands of jobs.

GM and Chrysler announced plans to close about 2,800 of their nearly 10,000 dealers last year while in bankruptcy. The companies have restored about 750 that were threatened with termination.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved