General Motors is willing to pay extra settlement money to some Oldsmobile dealers who recently invested heavily in their dealerships.
On Dec. 12, GM said it would kill Oldsmobile.
GM wants nearly all dealers to accept the basic settlement offer.
So far, the company believes dealers representing about 350 of its 2,800 dealerships have signaled they will settle.
At the make meeting Monday, GM executives let Oldsmobile dealers vent their anger. They offered no changes to the settlement offer.
"Same old, same old," said one dealer as he emerged from the packed meeting.
"They're stonewalling us," said another.
Many dealers said it is time to accept that Oldsmobile is going away and move on. Many are being upbeat because they want to negotiate a better deal with GM, which could include another GM franchise. Or they need to maintain a decent relationship with GM because they have other GM franchises.
Many dealers feel GM's offer, which was sweetened last week, is inadequate. Jerold Williamson, owner of Williamson Oldsmobile-Volkswag en-Kia in Lincoln, Neb., said the buyout offer won't cover his expenses, especially because 40 percent of it will go to the government as taxes on ordinary income.
Tench Phillips Jr., owner of Phillips Automotive in Virginia Beach, Va., was a hero to many. Phillips spoke freely at the meeting.
He said: "I was sarcastic, bitter and I meant every word I said."