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Reply #4: GM intends to reinstate more than 600 dealers [View All]

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kpete Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-05-10 04:32 PM
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4. GM intends to reinstate more than 600 dealers
Source: The Hill


GM intends to reinstate more than 600 dealers
By Michael O'Brien - 03/05/10 03:35 PM ET

General Motors announced Friday it intended to reinstate more than 600 dealerships it had shuttered during its bankruptcy last year.

GM said that after reviewing 1,100 arbitration claims, the automaker had determined it could reopen a substantial number of dealerships, and sent letters of intent to more than 600 of them.

We are eager to restore relationships with our dealers, and get back to doing what we do best selling cars and taking care of customers," GM North America President Mark Reuss said. The arbitration process creates uncertainty in the market. We believe issuing these letters of intent is good for our customers, our dealers and GM.

GM had closed roughly 2,000 dealerships during its restructuring and bankruptcy in 2009. The process was financed and directed by the U.S. government, which poured tens of billions in bailout funds into the company in exchange for an equity stake.

Read more: http://thehill.com/blogs/blog-briefing-room/news/85229-...
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