GM, Chrysler Executives Back In Congress To Defend Dealer Cuts
12 Juni 2009 - 4:34PM
Dow Jones News
Top executives at General Motors Corp. (GMGMQ) and Chrysler LLC
appeared in Congress for the second time in two weeks Friday to
defend plans to cut dealers from their retail networks, dismissing
criticism from lawmakers that they have treated the dealers
unfairly.
GM Chief Executive Frederick Fritz Henderson and Chrysler LLC
President James Press were scheduled to testify before the House
Commerce Committee's subcommittee on oversight and investigations
at 10 a.m. EDT. Also scheduled to testify were dealers, including
John McEleney, chairman of the National Automobile Dealers
Association.
The hearing was called by lawmakers to examine the rationale
behind plans for GM to cut its dealer network by nearly 2,600 by
fall 2010. Chrysler this month cut nearly 800 dealers. The closings
are part of the government-led restructurings of the auto
makers.
-By Josh Mitchell, Dow Jones Newswires; 202-862-6637;
joshua.mitchell@dowjones.com