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Chrysler, GM heads on Capitol Hill today

WASHINGTON (AP) - Top Chrysler and GM officials go before a
Senate panel today to discuss their transformations.
With thousands of jobs and dealerships about to disappear,
Chrysler President James Press and GM CEO Fritz Henderson can
expect some tough questions about the upheaval hitting the auto
industry.
Lawmakers charge that shutting down dealerships won't do much to
help the companies. Some are concerned the Chrysler closings are
happening too quickly, with less than a month's notice.
There's a call for the administration to give Chrysler dealers
that are shutting down more time to close their doors. Those
dealers are also challenging the closings in court.
The Senate Commerce Committee will also hear from some of the
dealers. They're also asking that Chrysler be given a financial
hand so it can buy back cars parts and specialized tools.
Meantime, a bankruptcy judge is expected to hear testimony today
from Chrysler executives and dealers.
Auburn Hills, Mich.-based Chrysler says it needs to reduce its
dealer base in order to cut costs and restructure. But the dealers
say they don't cost the automaker anything, just make it money by
selling its cars and trucks.


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