GM bankruptcy a relief to some

[The Times]

GM bankruptcy a relief to some
by Ryan Tracy/The Times
Monday June 01, 2009, 7:34 PM

General Motors' bankruptcy filing did not surprise area dealers, but it did have at least one letting out a sigh of relief.

After months of back-and-forth, there is "finally some direction as to where General Motors is going to go," said Fred Perrine, owner of a GM dealership on Route 130 dealership in Cranbury. "I'm very optimistic. It's a shame that this could not have been done years ago," Perrine said. He likened the bankruptcy to "going into (a hospital) as an old man and you come out a young teenager ready to take over the world."

Daniel Malek, owner of the smaller Malek Chevrolet in Hopewell Borough, said he was expecting a letter from GM Tuesday that could have more details about what the bankruptcy means for business.

Malek's dealership is one of many GM has labeled "underperforming." He has been informed that GM may not renew his sales and service agreement in late 2010, but said the letter was "vague."

Neither Malek nor Perrine expected the bankruptcy to result in quick closures of dealerships, as was the case with Chrysler recently.

"I don't think (bankruptcy) is a surprise because they have been talking about that for the last six months," Malek said. "We're still operating as we normally do, but it's a little tougher because you get so many questions from customers."

According to Perrine, customers responded well to news of GM's filing and Monday's sales were better than usual.

"We (sold) ten cars today," he said just after 5 p.m. Monday, calling the number "a better day" than average. "A lot of people just now understand that GM is going to come out much leaner and much more competitive than they've ever been."

Other local GM dealers include Superior Chevrolet and Coleman Buick Pontiac GMC, both located on Route One in Lawrence, and Colonial Cadillac in Ewing.

http://www.nj.com/mercer/index.ssf/2009/06/gm_bankruptcy_a_relief_to_some.html