As General Motors seeks bailout money to stay afloat, it has canceled several meetings associated with next month’s National Automobile Dealers Association convention in New Orleans, according to published reports.
The beleaguered car company has canceled its “franchise make” meetings, separate events for each of the GM brands, which were to be held throughout the NADA convention, January 24-27 in New Orleans, according to a report in Automotive News. Instead, the company will hold one general company meeting on January 25 at the convention, stated the news report.
GM also canceled its Minority Dealer Development Conference at NADA.
The canceled meetings are part of a companywide effort to cut costs, according to the Automobile News article. GM is seeking a multibillion-dollar bailout from the federal government to stem massive financial losses. A GM spokesperson was quoted in the article saying GM will be looking to cut costs in everything it does in the near-term.