BSM has been asked by several Dealer Associations to examine whether the OEM plans for distribution of Electric Vehicles runs afoul of existing franchise protections. In particular, dealers and their state and metro associations have expressed concern with the electric vehicle ordering systems...
BSM Assists Dealers Compile Their PPP Loan Forgiveness Applications
Written by admin on . Posted in 2020, Newsbrief, Newsletter.
BSM Shareholder, Richard Sox, and his team are actively assisting dealers ready their PPP Loan Forgiveness applications for submission to their lender. This assistance includes answering questions related to interpretation of the SBA promulgated rules related to the use of loan proceeds, seeking...
BSM Retained to Challenge the Lincoln Commitment Program on behalf of the New Jersey Coalition of Automobile Retailers
Written by admin on . Posted in 2020, Newsbrief, Newsletter.
NJCAR has retained BSM to file a complaint in New Jersey federal court challenging the Lincoln Commitment Program as a violation of the New Jersey franchise protections.
The New Jersey Lincoln dealers overwhelmingly objected to the requirement in the Lincoln Commitment Program to construct an...
Due Diligence Standard in Today’s Automotive Buy-Sell Market
Written by admin on . Posted in 2020, Newsletter, Transaction Update.
Back in April and May of this year, the economy came to a grinding halt as many cities ordered businesses to close. Things looked pretty dismal, both for our dealer clients and Bass Sox Mercer. The phone stopped ringing and several buy-sells in our pipeline were terminated by buyers.
Come...
Dealer Agreement Renewals and Modifications: Dot Your “I’s” and Cross Your “T’s”
Written by admin on . Posted in 2020, Franchise News, Newsletter.
When changes are made to your Dealer Agreement, which many times occurs upon renewal, they should be carefully scrutinized to ensure that they are not harmful to your dealership. In many states, dealers are afforded the opportunity to challenge these changes, and that opportunity may be...