Quote:
Originally Posted by 57years
No, they did have a choice...sign and get wind down cash, do not sign and get what the Chrysler dealers did....
There was no coercion by GM...yes, or no...one choice. That is why the dealers who did not sign were so few, only those who were offered miniscule wind down funds even thought of not signing, i.e.., those who carried no debt to banks on their books or personal assets, and those who simultaneously, had little rent factor shown on the books, so the wind down was nothing but a slap in the face!
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I do know that the GM OLDCO Dealers who did not sign GM's Agreement and accept the Wind Down money were able to be part of the lawsuit against the Treasury. As you mention, the number is low because the vast majority of the GM OLDCO Dealers elected to accept the terms of the Wind Down Agreement.
As before, I'm not an attorney or an expert but I wonder if it can be argued that the GM OLDCO Dealers who did sign the Wind Down Agreement were forced to accept a provision not to sue the Treasury because GM had 100% of the negotiating power?
It would be no different than the situations where the Government sues companies like Microsoft and Google because they add provisions to their contracts that the opposing party cannot reject because Microsoft and Google have so much market power.