Wednesday, May 6, 2009

Latest news on the Chrysler Bankruptcy Front. We hear that Chrysler told the court in a filing yesterday that they will be making decisions in the next two weeks about which dealers it is taking and those it is rejecting. Fiat will then have two weeks to agree to assume those contracts. An order to that effect is supposed to be in the court docket later today. The Wall Street Journal is also reporting there was a meeting between Chrysler and the national dealer council yesterday in which the determination as to who is in and who is out was discussed, though presumably not in much detail. The WSJ article only says, “…Chrysler executives said the auto maker is reviewing each dealership’s location, the condition of its facility, finances and sales to determine which are the strongest and most desirable, according to dealers with knowledge of the meeting.”

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