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GM Generali

23.39
-0.09 (-0.38%)
16 Jul 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
Generali AQEU:GM Aquis Europe Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.09 -0.38% 23.39 23.40 23.41 23.435 23.07 23.31 202,898 16:50:18

GM, Chrysler Executives Back In Congress To Defend Dealer Cuts

12/06/2009 3:34pm

Dow Jones News


Generali (AQEU:GM)
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Top executives at General Motors Corp. (GMGMQ) and Chrysler LLC appeared in Congress for the second time in two weeks Friday to defend plans to cut dealers from their retail networks, dismissing criticism from lawmakers that they have treated the dealers unfairly.

GM Chief Executive Frederick Fritz Henderson and Chrysler LLC President James Press were scheduled to testify before the House Commerce Committee's subcommittee on oversight and investigations at 10 a.m. EDT. Also scheduled to testify were dealers, including John McEleney, chairman of the National Automobile Dealers Association.

The hearing was called by lawmakers to examine the rationale behind plans for GM to cut its dealer network by nearly 2,600 by fall 2010. Chrysler this month cut nearly 800 dealers. The closings are part of the government-led restructurings of the auto makers.

-By Josh Mitchell, Dow Jones Newswires; 202-862-6637; joshua.mitchell@dowjones.com

 
 

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