Welcome to Danny Beck Chevrolet
Our letter from GM...
General Motors Corporation - June 1,2009
Danny Beck Chevrolet, Inc. 8300 New Sapulpa Rd Tulsa, OK 74131
Attention: Danny J Beck
On behalf of the entire GM team, as GM embarks on an exciting new future, I am extremely pleased that Danny Beck Chevrolet, Inc. has been identified by GM as one of its key dealers for the Chevrolet brand. As a result, subject to the execution of the enclosed letter agreement, GM intends to seek bankruptcy court approval to assume your existing Dealer Agreement for the Chevrolet brand and assign such Dealer Agreement to the purchaser of certain of GM's assets in the bankruptcy (the "363 Acquirer"). While recent times in the industry have been challenging to all of us, we believe that this new structure presents an exciting new opportunity for all involved.
Part of GM's restructuring efforts include plans for a dealer network consisting of fewer, stronger and more properly located dealers which we hope will allow for higher through-put and enhanced business potential. Your selection as a dealer for the Chevrolet brand shows the confidence we have in your dealership being part of the new GM. Accordingly, it is critically important that key dealers, like you, are fully committed to, and fully supportive of, GM's restructuring efforts. In order for your Dealer Agreement to be assigned to the 363 Acquirer, you must execute the enclosed letter agreement.
The letter agreement addresses several key areas of dealership performance going forward. These key areas are addressed in detail in the enclosed letter agreement, which you should carefully read, but highlights include:
Introduction of the new concept of essential brand elements
Increased sales performance
Increased inventory responsibilities
Exclusive facilities for GM operations
A release of claims against GM, the 363 Acquirer and their related parties
Agreement to fulfill certain dealer networking actions
A critical part of our dealer network plan is proper channel alignment and dealer focus on the correct brands at the right location. As a result, some retained dealers may receive additional brands. Also, some retained dealers will continue with fewer brands than they currently operate. If your dealership is continuing with fewer brands, enclosed is a separate cover letter and a wind-down agreement, designed to assist you in the orderly winding down of that brand's operations. Please understand that, going forward, GM strongly believes it needs your dealership, as a top performer, in the Chevrolet dealer network.
Due to extremely short court deadlines in the bankruptcy process, the enclosed letter agreement must be signed by you and received by GM.
In closing, please know that GM has great respect for, and appreciation of, your past efforts as a GM dealer. We are enthusiastic about the prospects of our mutual success under this new structure.
GENERAL MOTORS CORPORATION