Colorado joins objections to GM’s dealership plans
DENVER, Colorado – Colorado Attorney General John Suthers says he’s joining more than two dozen counterparts in other states in objecting to GM’s bid to modify its dealership agreements.
The objection filed Thursday in U.S. Bankruptcy Court in New York argues that General Motors Corp. is effectively forcing dealerships to substantially modify their agreements with the automaker or risk being dropped.
Suthers said Friday that GM shouldn’t force its dealerships to unfairly bear the burden for past mismanagement.
Suthers filed the objection on behalf of the Colorado Motor Vehicle Dealer Board.
GM is in Chapter 11 bankruptcy proceedings and is hoping to sell most of its assets to a new company.
The Vail Valley’s real estate market has long been an unusual one, with very expensive sales accounting for a large share of the market’s dollar volume. That means a few sales can have a large impact on volume.