Chrysler Shutters Dealerships

Chrysler's bankruptcy may have made national news, but as it trims its dealer network, its closings have become painfully local. Because bankruptcy court frees state franchise laws, Chrysler has shuttered some 789 dealerships, and businesses that have been passed through families for generations are closing shop. Chysler said that it has tried to trim its dealer network for a while to create less competition for customers, but that doesn't ease the blow for affected businesses. Said the owner of one ill-fated Jeep dealership: "It's a sad day for America when, with the stroke of a pen, dealers that have been in the community hiring local employees and paying taxes are suddenly wiped out."