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Congressman Peter's Statement On Chrysler/UAW Agreement

Statement

Date: April 26, 2009
Location: Washington, DC
Issues: Transportation Business and Consumers

Congressman Gary Peters issued the following statement tonight in response to reports that Chrysler and the UAW have reached an agreement on worker concessions as called for in the automakers' restructuring plan:

"Chrysler workers have done their part to preserve a future for their company. Now the fate of Chrysler and hundreds of thousands of American families rests in the hands of Chrysler's debt holders. While other stakeholders are agreeing to painful sacrifices, the only sacrifice being asked of debt holders is that they accept an offer that provides them more than fair market value for their holdings. It is time for the banks and the hedge funds to stop holding out and reach a reasonable agreement so Chrysler can stay in business and hundreds of thousands of jobs can be protected."


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