U.S. Says ‘Not at All Clear’ Speeding Up Dealer Closings Needed
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A U.S. review of the Obama adminstration’s order to accelerate closing of General Motors Co. and Chrysler Group LLC car dealerships concluded it’s “not at all clear” the action was necessary for the carmakers.
“It is not at all clear that the greatly accelerated pace of the dealership closings during one of the most severe economic downtowns in our nation’s history was either necessary for the sake of the companies’ economic survival or prudent for the sake of the nation’s economic recovery,” the Treasury’s inspector general for the U.S. financial bailout said today in a report.