General Motors and the creditors of Daewoo Motor Korea continue to argue about the purchase of Daewoo assets.
This game of "chicken" helps no one.
The two parties should reach a conclusion in the best interests of Daewoo, its U.S. dealers and the American consumer.
The extraordinary length of the negotiations may well have played into the hands of GM as the resulting uncertainty has had a significant impact on our sales.
We would hope that GM would not be using this as a tactic to squeeze the Daewoo dealer body by eroding confidence in our brand.
The Daewoo-branded product deserves to be in America and to be sold by the nearly 525 Daewoo dealers who introduced these cars.
A number of us were part of a recent trip to South Korea, where we saw at least four products scheduled to be introduced in a few months to 24 months.
It was agreed in September that a condition of any GM deal was that U.S. operations be included. Our support of the Daewoo franchise opportunity is based largely on that premise.
We are, however, prepared to represent Daewoo enthusiastically with or without GM. The only thing holding us back is the enormous uncertainty generated by the length of the negotiations.
Quit playing "chicken" and reach a decision!