Showdown over auto dealer cuts

By doris | Published: June 15, 2009

Full Story At money.cnn.com

NEW YORK (CNNMoney.com) — These are hard times for car dealers. Across the nation, General Motors and Chrysler dealerships are pulling down their big roadside signs and closing their doors.

The companies say they have no choice but to cut the cord and save money. The dealers, who say they are being scapegoated for the epic problems at GM and Chrysler, are hopping mad.

So are lawmakers.

On Friday, top executives of General Motors and Chrysler as well as several dealers appeared at a congressional hearing. It marked the second Capitol Hill hearing on the issue this week.

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