NORTH KINGSTOWN – The owner of Tarbox Motors is praising the passage of a law that creates a mechanism for him to appeal Chrysler’s decision to close down his North Kingstown franchise last year as part of the automaker’s bankruptcy plan.
President Barack Obama signed a law Wednesday that includes the Durbin-Hoyer Amendment, which establishes an appeals process for dealerships shut by Chrysler and General Motors as part of their reorganization plans.
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“My family, my staff and I are thrilled and grateful to have this opportunity,” said Jim Tarbox, owner of Tarbox Motors. “A third-party arbitration process will allow me to argue my case and show that it was unfair and unreasonable to close Tarbox Jeep, which is a successful and high-performing dealership.”
According to the bill, arbitrators will consider the economic interests of the dealership and the motor vehicle company by reviewing the automaker’s business plan, dealership profitability for the past three years, dealership experience, geographic characteristics and territory demographics.
Tarbox has maintained that Chrysler unfairly targeted his dealership despite it being profitable. He told Providence Business News that since the closure his net worth has plummeted and he worries about paying outstanding loans and bills.
Tarbox has switched to selling used vehicles while it fights to recoup its franchise.
