Corker: Chrysler, GM should reimburse auto dealers - Memphis Business Journal:

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Sen. Bob Corker, R-Chattanooga, introduced the Auto Dealers Assistanc e Amendment yesterday in the Senate Banking The amendment would also give dealerships 180 days to wind downtheif operations. “We continue to receivew assurances from Chrysler and GM that theidr dealers across Tennessee and acrossx our country will betreaterd fairly,” Corker said in a statement. “Wew filed this amendment to apply pressure on the automakerw to keep their word to rejected dealerships and fullh reimburse them for their inventoriees of vehiclesand parts.
“We hope Chrysletr and GM will take these appropriate actions and make this amendment Chrysler and GM told Congress earlier this year that they need to reducwe their dealer networks tocut costs. Corker’s statement said dealerships have beengiven “inconsisteng treatment.” Some Chrysler dealerships, the statement said, have been forced to shut down in less than 30 days and are responsibld for selling their inventories.
GM Corker said, have been given longed contract terms, but face similar challenges in reimbursement for parts and The amendment would force the automakers to use any Treasurgy funds while in bankruptcy to reimburse their dealers for all parts and inventoryh on the date of thebankruptcy Also, the proposal would not allow Chryslere or GM to get debtor-in-possession fundinvg unless such agreements provide for the reimbursement of the