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GM reaches agreement with dealers

Posted Tuesday, Jun 9, 2009, 10:52 am in Employee News

General Motors Corp. reached a deal with the National Automobile Dealers Association on franchise terms for the more than 3,500 dealers it plans to keep after it exits bankruptcy, GM and NADA said Monday night, and the Detroit News reported.

John McEleney, chairman of NADA, complained last week in Senate testimony of “onerous one-sided” agreements that will leave dealers with few legal rights, the paper said. They must sign by June 12, or GM can cancel their agreements, the News reported.

NADA met with GM’s Troy Clarke on Friday to discuss their concerns, the paper said. Late Monday, NADA issued a statement saying it “supports GM’s amendments to the Participation Letter Agreement,” the story said. (Detroit News)
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