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GM To Slash More Than 1,100 Dealers From Network

Law360 (May 15, 2009, 12:00 AM EDT) -- General Motors Corp. announced Friday that it planned to drop 1,100 U.S. dealerships by late 2010, in an effort to cut costs and streamline operations ahead of the June 1 deadline the government has given the struggling automaker to improve its business or file for bankruptcy.

Representing 7 percent of GM's sales in 2008, the 1,100 dealers were notified by mail that their franchise agreements would not be renewed after October 2010, Mark LaNeve, GM's vice president for sales, service and marketing, announced at a news...
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