Judge Hears Arguments on Closing GM Franchises
Thursday, June 04, 2009
New York, NY —
The judge overseeing Chrysler's bankruptcy case in New York says the automaker has a good case for the termination of 789 of its dealer franchises as part of its ongoing restructuring. But the dealers argued in today's hearing that they don't cost the automaker anything.
General Motors has also filed for bankruptcy, much to the chagrin of Greg Williams, who had to close his Chevrolet dealership last week. He says GM isn't doing enough to reimburse him for the inventory he can no longer sell.
WILLIAMS: I had $5 million worth of inventory that they were responsible to take away, and what they're offering is less than $1 million.
Williams spoke on WNYC'S Brian Lehrer show today. He says GM told him in a letter that his previous contract was void.