the storyçç is obviously not d to pete lopez, it is a nationwide tragedy that a lot of us feel veryng that should notç have happened and can be corrected. it is a story certainly has echoed through out west virginia nearly anna nationwide basis, nearly 2,000 dealerships that are closed threat america, 100,000 jobs at risk. thoseç are not unfamiliar figus in these days but nevertheless 100,000 people potentially at a fork were probably out of work is on happy so we have to do better. we can save some of these jobs and we can help some of these committees and we have an obligation to do that. let me be very clearç -- i honestly don't believe that companies should be allowed to take taxpayer funds for a bailout of and then leave it to local dealers and their customers to fend for themselves with no real plan, no real motives, no real help. is just plain wrong. you don't do that. so we are talking about dealers who invested everything they have, many who have been added for many many decades, a generational thing with it families some of whom are here today, you know, they are just l

i spoke with pete lopez, who is here with us. he is not a dealer from -- he is an autodealer from west virginia, it's not the largest city in the world but it's one of the finest and right in rural west virginia and just sort of sets up the whole tone of this. and he learn that had his contract had been terminated. you know, with chrysler. so obviously he was very concerned about that. we talked on the telephone, and he was, you know, a lot of anxiety and concern and worry about his people, and in a sense in a flash his whole life's work probably of some 30 years or so of taking care of people and servicing cars and selling cars, both chrysler and general motors, you know, all of a sudden it appeared to be very much in jeopardy. so that's the way he felt. but then compound that, a few days later mr. lopez learn that had g.m. was also going to terminate their franchise with him putting more of his workers at risk. the story is obviously not held to pete lopez. it's a nationwide tragedy. that a lot of us feel very strongly about, s

my name is pete lopez, from censer, west virginia. a small rural town of approximately 3,800 people about an hour out of charleston, west virginia. i'm the owner of spencer auto gl group, which is made up of two dealerships on main street america. chrysler, jeep, dodge, plus chevrolet and buick dealerships. we stfs six county areas in west virginia, and i am the face of chrysler and general motors to my community and my customers. mr. chairman, within the past three weeks, i have been informed that both of my dealerships will be closed. my chrysler deepership will be closed within six days now, while chevrolet dealers franchise agreement will be terminated by the 12th if i don't sign the new contract, which i haven't been there to see. i have learned about my chrysler dealership closer by a friend of mine who called me at 9:00 one morning while he had the new york times on his computer and that's how i found out that we were losing our chrysler dealership. i did not receive a call from chrysler. i called our representative three or fo

i got a note saying that some of the press or some others felt that pete lopez, i have been rude to you by interrupting you. i don't think in view of our relationship, that's a fair thing to say. however, for the record, let me just say that a lot of people come here and testify for the first time and they have a fairly lengthy statement, and i wasn't sure -- i wanted you to get through the parts you wanted to get through in five minutes. >> that's okay. i didn't take it that way. absolutely not. i'm delighted to be here. >> mr. lopez, both chrysler and gm have terminated their franchise agreements with you, correct? >> yes, they have. >> can you wind down your chrysler dealership in 26 days? >> no way. there's no way. i don't think you can do a personal bankruptcy in that amount of time. i have -- i'm down to probably 48 cars, 24 of each, and by the way, in february, i was called by chrysler and i want to tell you the conversation. the representative calls me and says i need you to take 35 cars, and i said i can't do that, i'm not going to put myself out of business. she said well, you