Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Oldsmobile Dealers, GM Remain at Odds
Some Oldsmobile franchisee-dealers remain dissatisfied with the financial settlements offered by General Motors Corp. (“GM”) as compensation for GM's decision in December 2000 to phase out its Oldsmobile product line. Of the approximately 2800 Oldsmobile dealers who were operating when GM announced its phase out, fewer than 100 have not come to an agreement with GM, according to the automaker. Although numerous lawsuits have been filed in the past 2 1/2 years and some remain active, none have gone to trial so far.
The disputes began when GM announced that it would stop producing the Oldsmobiles, due to declining market share, and offered buyouts to all of its approximately 2800 Olds dealers across the United States. In 2001, GM announced a buyout, called the Transitional Finance Assistance Program (“TFAP”), which would pay most dealers a lump sum equal to $1200 for each car the dealership sold in its best year during the period 1998-2000. For a dealer who had only an Olds dealership, which represented fewer than 150 businesses, the multiple was raised to $3000 per vehicle sold. A few other compensating factors, such as proof that a dealer recently upgraded its showroom, could result in an increased TFAP offer.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.