Right of First Proposal?

[XDCX]

I noticed an ad in Automotive News where a GM wind-down dealer is looking for an investment partner so he can capitalize on his "Right of First Proposal."

Is this a program GM offers to OLDCO dealers who are interested in an Open Point?

I've never heard of a "Right of First Proposal" and just wondered why GM would think this is valuable to an OLDCO dealer? (I could understand if it were a "Right of First Refusal" but who cares if your proposal is first or last?) :confused:

[ohiobuckeyes]

Just read that in AutoNews and it does not make any sense to me and I'm a wind down store. Maybe I just do not care about GM and that part of the agreement.

But good luck to him right?

[XDCX]

But good luck to him right?

That's mainly why I started the thread. I got the impression the dealer thought he had a great opportunity and he was looking for capital so he could take advantage of it.

If he's happy and he still wants to be part of GM, I think that's great. I'd just never heard of a "Right of First Proposal." :)