More Details-
The clipping below comes from the "GM Term Sheet" posted on the Treasury Dept's Web site. Note Item 4.
It appears the only reference to dealer agreements would fit under this provision and just makes GM and Chrysler justify the contractural agreements with suppliers and dealers. At least that's what it looks like to me. (all subject to a closer read)
Here is page 5 of the "GM Term Sheet" as well as a link to download the whole 15-page document: (you will have to copy and paste the url- we have disabled the live links within the forum for security reasons)
http://www.treas.gov/press/releases/rep ... pendix.pdfRestructuring Plan: By no later than February 17, 2009, the Company shall submit to the Presidents Designee a plan to achieve and sustain the long-term viability, international competitiveness and energy efficiency of the Company and its subsidiaries (the Restructuring Plan), which Restructuring Plan shall include specific actions intended to result in the following:
1. Repayment of the Loan Amount and any other financing extended by the
Government under all applicable terms and conditions;
2. Ability of the Company and its subsidiaries to (x) comply with applicable
Federal fuel efficiency and emissions requirements, and (y) commence
domestic manufacturing of advanced technology vehicles, as described in
section 136 of the Energy Independence and Security Act of 2007 (Public
Law 110-140; 42 U.S.C. 17013);
3. Achievement by the Company and its subsidiaries of a positive net present
value, using reasonable assumptions and taking into account all existing and
projected future costs, including repayment of the Loan Amount and any
other financing extended by the Government;
4. Rationalization of costs, capitalization, and capacity with respect to the
manufacturing workforce, suppliers and dealerships of the Company and its
subsidiaries; and
5. A product mix and cost structure that is competitive in the United States
marketplace.
The Restructuring Plan shall extend through 2010 monthly and annually through
2014 and shall include detailed historical and projected financial statements with
supporting schedules and additional information as may be requested by the
Presidents Designee.