|Published:||Jul 19, 2010 1:02 AM EDT|
|Updated:||Jul 18, 2010 10:02 PM EDT|
WASHINGTON (AP) - A government watchdog is criticizing the Treasury Department for urging General Motors and Chrysler to quickly reduce the size of their dealership networks -- a move that cost jobs during the recession.
The special inspector general for the government's bailout program says the Treasury didn't do enough to make sure that speeding up those closings was necessary for the companies' long-term health.
The report says the Treasury's decisions may have contributed to the closing of thousands of small businesses and cost tens of thousands of jobs.
GM and Chrysler announced plans to close about 2,800 of their nearly 10,000 dealers last year while in bankruptcy. The companies have restored about 750 that were threatened with termination.
- Massive tornado roars through Oklahoma City suburb
- Crews pull children from the rubble after Okla. tornado
- Huge tornado hits Oklahoma City suburb, kills 51
- NWS: Okla. tornado had winds up to 200 mph
- Josh Powell had affair before wife vanished
- CBS pulls comedy season-ender because of tornado
- More Obama aides knew of IRS audit; Obama not told
- Thousands march in NY to protest gay man's killing