Chrysler Cuts Hit Gulf Coast

Chrysler Auto Bailout News Five talks with a Pensacola dealership dealing with the bankruptcy.
by Diana Lucio
Published: Wed, June 10, 2009 - 4:24 pm CST Last Updated: Wed, June 10, 2009 - 4:32 pm CST
A major automaker on the brink of going belly up gets a bailout from Italian automaker Fiat.

It's part of a deal to save Chrysler from liquidation, billions of dollars in debt and nearly 800 underperforming dealerships.
Sandy Sansing Chrysler in Pensacola was forced to cut its ties with the auto giant Tuesday.
The owner plans to expand his Mazda dealership, giving all 40 Chrysler employees a job.
Sansing says though he has something to fall back on, it is still a big blow.
"The auto industry has just been heartbreaking when you see a franchise or business that you have invested tons of money just taken and ripped away from you,"Said Sansing.

Sandy Sansing hopes to complete the Mazda transition within the next two weeks.
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