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Detroit: GM, Chrysler target dealerships; Autos: Porsche, VW merger on hold; Regulators: Insider trading at the SEC?; Pensions: Carlyle pays $20 million to end inquiry; Apparel: Abercrombie & Fitch reverses course

Detroit: GM, Chrysler target dealerships

General Motors and Chrysler have revoked the franchises of nearly 2,000 of their dealers, opening a new phase in “the historic down­sizing of the American auto industry,” said Bill Vlasic and Nick Bunkley in The New York Times. Chrysler last week sent notices to 789 dealers—about a quarter of its network—informing them that they “will be cut off next month.” A day later, General Motors told 1,100 underperforming dealerships that they would be dropped when their contracts expired, in 2010.

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