Great News For Local Business....

This is great news and nice to see these guys persisting through these tough times as it's not easy trying to run an operation with this kind of pressure always in the back of your mind... let's wish them continued success....
P.E.I. auto dealership honking with joy
August 23rd, 2010
Jim Day

There is cause to honk for joy at Island Chevrolet Cadillac.
The Charlottetown dealership officially has settled a lawsuit with General Motors of Canada paving the way for ongoing operations, says co-owner Paul Mifsud.
“We are not in risk of losing our franchise,’’ Mifsud said Monday.
“We are certainly here to stay.’’
Island Chevrolet Cadillac last year joined a group of Canadian General Motor dealerships that sued the auto giant for millions in damages for alleged contract breaches and sought a court injunction to stop GM from terminating their franchises.
Eleven long-time southern Ontario dealers and Island Chevrolet Cadillac filed a statement of claim in Ontario court in late November alleging that GM ended their franchise agreements in a “highhanded, oppressive and patently unfair’’ manner. They alleged GM breached a contract that the company promised to renew as long as the dealerships met certain performance expectations.
The dealers said at the time they wanted a permanent injunction to prohibit GM from ending their agreements and a declaration entitling them to remain open for at least another five years.
Mifsud did not disclose any details of the settlement. He said only that the deal is good news for Island Chevrolet Cadillac and the dealership’s 34 employees.
“It’s quite a celebration,’’ he said.
“We’re having lunch catered for them (staff) today...we have a lot of happy faces here.’’