General Motors Co. revealed its intentions to reinstate 661 of the 1,160 rejected dealerships that applied for arbitration to restore their franchises. This effectively scraps a nine-month plan to lower its showroom network by 40%.
According to GM executives, the company is starting settlement procedures early so as to avoid the stresses of congressionally mandated arbitration. On March 10, the letters of intent will start going out. The GM executives say that the length of the process could range from a few weeks to several months.
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