PDA

View Full Version : CNBC: GM to Announce It Will Reinstate Close to 1,000 Dealers That Were Dropped



bobbyw24
03-05-2010, 11:58 AM
GM Expected To Restore Some U.S. Dealers
Published: Friday, 5 Mar 2010 | 12:52 PM ET Text Size
By: Reuters
General Motors will begin notifying some of its 1,160 U.S. dealers marked for shutdown that their franchises will be restored after congressionally mandated arbitration, two sources briefed on the matter said Friday.




GM planned to terminate franchise agreements with 1,300 U.S. dealers as part of its U.S. government-sponsored bankruptcy last year aimed at returning the company to profitability. Some 1,160 of them have sought arbitration.

The U.S. automaker will begin sending letters notifying some of the dealers who have appealed the closure that they will remain with GM, the sources told Reuters, asking not to be identified because the information has yet to be announced.

GM representatives said GM North America president and sales chief Mark Reuss will provide dealers with updates on the arbitration process at 2 p.m. EST and address the media at 3 p.m. EST. They declined to discuss details of the announcement.
devil21
03-07-2010, 05:31 AM
I guess GM's Chinese and Russian factories (that you paid for) are now up and running.
Thrashertm
03-07-2010, 08:31 AM
I think this makes sense. GM's costs for dealers are born by the dealers - not by GM. I never understood why they wanted to eliminate all of the dealers.
GunnyFreedom
03-07-2010, 08:42 AM
I think this makes sense. GM's costs for dealers are born by the dealers - not by GM. I never understood why they wanted to eliminate all of the dealers.

They never wanted to get rid of them all -- only the ones who provided competition for those who donated to Obama in 2008. :p
angelatc
03-07-2010, 09:37 AM
No doubt that Congress is totally prepared to bring back the Saab, Buick and Hummer dealers to avoid expensive litigation.
squarepusher
03-07-2010, 07:39 PM
who has money to buy cars now?
GunnyFreedom
03-07-2010, 07:51 PM
who has money to buy cars now?

Bankers.
new momentum
03-07-2010, 08:13 PM
Why not bring back those dealerships? They have the full backing of the American tax payer.
HOLLYWOOD
03-07-2010, 08:25 PM
Why not bring back those dealerships? They have the full backing of the American tax payer.


YEAP... about $50+ BILLION for GM, besides the Federal Reserve buying garbage paper from GMAC!

AND... GM is doing SO WELL with their propaganda campaign of "PAY BACKS TO UNCLE SUGAR" , GM has delivered once in DEC 09 for a grand total of $361 million. They haven't paid anything else back since.

The Fascist State lives on...