A General Motors Co. announcement slated for later today is anticipated to reveal the automakers decision to reinstate roughly 600 dealerships on the verge of being shut down. Last year the company announced 2,400 GM locations should be dropped from their sales network in part of the bankruptcy restructuring.
1,160 of those dealerships in question made appeals to the company over the course of the attempted consolidations. Further investigation appeared to reveal the process the company used to determine weak dealerships was faulty, prompting today’s announcement altering the initial plans.
Chief Executive Edward Whitacre Jr. went about reinvestigating each location individually in order to give locations the benefit of the doubt to continue operation. The decisions will be annunce Friday afternoon via conference call.
The continue operations of the dealerships may aid GM in their objective of expanding market share in the U.S..
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription
