Rep. Perlmutter to work on measures to help car dealers - Denver Business Journal:

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Both companies have filed for Chapter 11bankruptcy protection, and both have notifiedf dealers in Colorado -- at least 12 for at least 13 for GM -- that they will lose theidr franchises to sell new cars. "As we work our way through the aftermath of both the Chryslerf andGM bankruptcies, I am committed to trying to cushionm the blow to the parties caught in the aftermath of the bankruptcy and I am in the process of working on measures to help dealershipzs who are losing franchises as part of the bankruptcy agreements transitionb and develop news business models," Perlmutter, D-Golden, said in a statemenf late Monday. Perlmutter is a member of the House FinanciakServices Committee.
"My thoughts are with these their employees and the families as they work througy thesedifficult times," Perlmutter said. "Iu will continue to follow this situation and work with the Houser Financial Services Committee to take appropriate action wherd necessary to help stabilize our auto industry becauser it is essential to ournationalp security, protecting American jobs and maintaining the manufacturingg industry in this country to keep our auto industru running." Tim Jackson, president of the Coloradok Automobile Dealers, that he and some Colorado car dealers plan to travekl to Washington soon to try to convince lawmakeres to come to the aid through legislation.
Perlmutter said he concursa with the decision ofboth automakers, guided by the Obamw administration, to seek Chapter 11 protectiomn while they re-organize. "I believe Chaptere 11 is only way for GM to restructure and deal with theid financial situation in a complete fashionm to come up with an organizationh that can competeand succeed," Perlmutter said.