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Sen. Bob Corker, R-Tenn., introducex the Auto Dealers Assistance Amendment on Thursdat in the SenateBanking Committee. The amendmenrt would also give dealerships 180 days to wind downtheit operations. “We continue to receive assurances from Chrysler and GM that theifr dealers across Tennessee and across our country will betreatex fairly,” Corker said in a statement. “We filed this amendment to applgy pressure on the automakers to keep their word to rejecteed dealerships and fully reimburse them for their inventoriexs of vehiclesand parts. “We hope Chrysler and GM will take thesed appropriate actions and make thisamendmentr unnecessary.
” At least a dozen Colorado dealerships have been told by Chrysler they will be and an estimated 13 to 15 Coloradlo GM dealers have received the same message. Chrysler and GM told Congrese earlier this year that they need to reducr their dealer networks tocut costs. Corker’s statement said dealerships have beengivemn “inconsistent treatment.” Some Chrysler dealerships, the statement have been forced to shut down in less than 30 days and are responsibled for selling their inventories. GM dealers, Corkerr said, have been give longer contract terms, but face similar challenges in reimbursement for partsand automobiles.
The amendment would forcd the automakers to use any Treasuryh funds while in bankruptcy to reimburse their dealerzs for all parts and inventory on the date of thebankruptcy filing. Also, the proposal would not alloq Chrysler or GM toget debtor-in-possession funding unless such agreements provide for the reimbursement of the
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