Arbitration plan for rejected dealers

[rickaren]

Lawmakers agree on arbitration plan for rejected dealers

Posted on Wednesday, December 9th, 2009 at 3:36 PM EST.(Employee News)

House and Senate leaders agreed to a legislative proposal to give rejected General Motors Co. and Chrysler Group LLC dealers access to third-party arbitration under criteria broader than that planned by the automakers, the Automotive News reported.

House Majority Leader Steny Hoyer, D-Md., and Assistant Senate Majority Leader Dick Durbin, D-Ill, said late Tuesday that the bill would require arbitrators to balance the economic interests of dealers, the companies and the public, the trade publication said. Dealers who appeal their termination and win in arbitration would receive a letter of reinstatement from GM or Chrysler within seven business days of the arbitrator’s decision, the joint statement said, the Automotive News reported.

The bill—whose enactment is now virtually assured—is to be attached to a financial services spending measure and considered by a conference committee of congressional leaders this week, the publication said. It then will be submitted for final votes by the House and Senate before going to the White House for President Barack Obama’s signature, the story said. (Automotive News)