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Chrysler Alleged to Have Acted in Bad Faith in Dealer Closings

By Implode-Explode Heavy Industries

"Having seen what Cerberus has done to one of its acquirees (New Page, a group of mills that produce coated paper), nothing should surprise me. But the way that Chrysler treated its dealers as stuffees, pressuring them take extra inventory and make extra investments in plant and facilities shortly before the dealerships were cancelled, is simply heinous. In addition, Chrysler is cutting all ties as of June 9. By contrast, GM is far more humane, allowing dealers to continue operating until 2010, but giving them the option of wrapping up sooner if they choose."

Full post as published by Mortgage Lender Implode-o-Meter on May 23, 2009 (boomark / email).