So. Fla. Chrysler dealerships' employees stranded by buyout

MIAMI (WSVN) -- Fiat's buyout of bankrupt automaker Chrysler has left over 150 employees at four of the failed company's local dealerships out of a job as of midnight Tuesday.

The Supreme Court gave Chrysler the green light earlier in the day to sell its assets to a group led by the Italian automaker. As part of its restructuring plan, Chrysler is severing ties with 789 of its franchises.

Chrysler said it had too many dealers competing with each other, costing the automaker money it no longer had. "The decisions had to be made," Chrysler chief executive officer Jim Press told lawmakers. "They were gut-wrenching, but absolutely necessary for Chrysler's survival."

Monarch Lakes Dodge in Lauderdale Lakes and Maroone Chrysler-Jeep-Dodge in Coconut Creek were among the casualties, leaving 167 employees between the two dealerships seeking new jobs. "The reality is all of these good folks are out of work," said Michael Esposito, a friend of a 35-year Chrysler dealership owner, whom he described as a "broken man."

Recognizing that doomsday was fast approaching, West Miami-Dade's Tamiami Chrysler-Jeep-Dodge franchise sold off its vehicles, which were towed away Wednesday. "Well, today, this is the last day that we have to sell the Chrysler-Jeep-Dodge vehicles that we have on the lot," said employee Eddie Planas.

Tamiami Chrysler-Jeep-Dodge sells other brands and thus will remain open, serving as a bittersweet consolation prize amid the massive cross-country closures. "The government and Chrysler has failed everyone," said Planas.

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