Author: admin
The sale of a vehicle dealership involves two basic transactions wrapped into one, the sale of assets (goodwill, vehicles, parts, supplies and fixed assets) and the sale or lease of real estate. Here are 6 tips to better position your real estate for maximum value and a smooth closing:
Leases:...
Common Environmental Issues in Auto Dealership Transactions
Written by admin on . Posted in 2019, Newsletter, Transaction Update.
Older auto dealership properties seem to regularly trigger poor reports from environmental assessment companies, thus triggering Phase II investigations, and, in some cases costly remediation. Sellers can be surprised to learn that their transaction will be delayed or jeopardized as a result of a...
Supreme Court Rules Service Advisors Exempt from Overtime-Pay
Written by admin on . Posted in Uncategorized.
On April 2, 2108, the U. S. Supreme Court, in a 5-4 decision, ruled that service advisors are exempt from the overtime-pay requirement of the Fair Labor Standards Act (“FLSA”). The ruling reverses the Ninth Circuit Court of Appeals decision in Encino Motorcars, LLC v. Navarro, 845 F.3d 930...
Manufacturers Go on the Offensive in Unprecedented Ways
Written by admin on . Posted in Uncategorized.
The major automobile manufacturers are active at levels not seen since the days of linemake discontinuances and dealership terminations during the General Motors and Chrysler bankruptcy proceedings. It seems almost weekly that the lawyers at BSM are presented with a new and more aggressive...
Your Dealership Needs a Compliance Audit
Written by admin on . Posted in Uncategorized.
By Robert C. Byerts
They are out there. Regulatory agencies, plaintiffs’ attorneys and others who will gladly accept an opportunity to investigate your dealership and any complaint a consumer brings about their experience there. They are waiting. Waiting for a salesperson to slip up or an F&I...