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Press Release

For Immediate Release
Contact: Sean C. Bonyun
April 30, 2009
(202) 225-3761

Upton Comments on Chrysler
Co-chair of Congressional Auto Caucus worked to avoid bankruptcy

WASHINGTON, DC - Congressman Fred Upton (R-St. Joseph), co-chair of the Congressional Auto Caucus, made the following statement today following Chrysler's announcement that it was filing for Chapter 11 bankruptcy.

"This is a difficult day for Michigan and the nation – a day we endeavored hard to avoid. We desperately worked to avert bankruptcy, but at the end of the day I am hopeful Chrysler will be well positioned to rebound.

"I'd like to thank the Chrysler families who have laid everything on the line, yet were prepared to sacrifice even more - unfortunately a small minority of creditors killed the deal – a sickening group on Wall Street that put greed ahead of what's good for America, content to transfer thousands of Michigan workers to the unemployment rolls for the next 60 days.

"Many dealers will continue to sell and service cars uninterrupted, warranties remain guaranteed, and Chrysler will still be making quality cars here in Michigan and America.

"I commend President Obama and his entire team for their efforts on a nearly impossible task. We will continue working hard to protect suppliers and the many workers connected to the auto industry who have lived on the edge and at risk for many months."

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