http://www.allpar.com/news/

Toyota picking up GM, Chrysler dealers?

May 15th, 2009 by DaveAdmin
Dealers that are having their franchises revoked are getting special attention from Toyota, according to an inside source. Toyota personnel are traveling the country and recruiting former Chrylser and soon-to-be-former GM dealerships, offering them the opportunity to switch franchises. They will not be reimbursed for the cars and parts they have, which are to be sold to other dealerships or the public, but may get special deals and financing for carrying the Toyota brand. Other automakers are also likely to take advantage of the opportunity to spread their brands.
While many areas may have had more Chrysler than they could support, given the company’s current sales, they were not within close range of the world’s largest, Toyota, which has far fewer dealerships in the U.S. than Chrysler did.



Nardelli: no loophole for higher salaries

May 15th, 2009 by DaveAdmin
Bob Nardelli wrote today: “Several news reports have stated that Chrysler executives ‘found a loophole’ for executive compensation. I want to assure you that these reports are absolutely, positively incorrect. Chrysler understands the limitations on compensation for senior executives during the term of the government loans. Chrysler has and will continue to fully comply with all conditions and legal requirements as it relates to executive compensation matters.”


Press: Chrysler dealer cuts are final

May 15th, 2009 by Bill Cawthon
According to Chrysler Vice Chairman [[and only member of the ruling triad who hasn’t announced he’s leaving) Jim Press, the dealer cuts are a done deal and become effective on June 9.
Press said Chrysler will not review its decisions and there will be no appeals process. The terminated dealers will not be offered settlements. He also said Chrysler not buy any inventory but will help affected dealers sell their stocks of vehicles and parts to other dealers, a process he estimated would take about six weeks.