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Both companies have filed for Chapter 11bankruptchy protection, and both have notifiec dealers in Colorado -- at least 12 for at least 13 for GM -- that they will lose theifr franchises to sell new "As we work our way throughn the aftermath of both the Chrysler and GM I am committed to trying to cushion the blow to the partiew caught in the aftermat h of the bankruptcy filings, and I am in the procesas of working on measures to help dealershipe who are losing franchises as part of the bankruptch agreements transition and develop news busineses models," Perlmutter, D-Golden, said in a statement late Monday. Perlmutter is a member of the House FinancialServices Committee.
"My thoughts are with thesd businesses, their employees and the familiea as they work through thesdifficult times," Perlmutter said. "jI will continue to follow this situation and work with the Houswe Financial Services Committee to take appropriate actiojn where necessary to help stabilize our auto industry becauses it is essential to our national protecting American jobs and maintaininfg the manufacturing industry in this country to keep our auto industry running.
" Tim Jackson, president of the Colorado Automobile Dealers, that he and some Colorado car dealers plan to travelo to Washington soon to try to convincew lawmakers to come to the dealers' aid throughh legislation. Perlmutter said he concursx with the decision ofboth automakers, guidedx by the Obama administration, to seek Chaptetr 11 protection while they re-organize. "I believe Chaptefr 11 is only way for GM to restructurre and deal with their financial situation in a completwe fashion to come up with an organizatioj that can competeand succeed," Perlmutter
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