- 4 - and was also forced to accept vehicles loaded with accessories that were more difficult to sell in its sales area because the increased price for the accessories made the selling price less competitive. HGTG was also forced by SET to pay fees and participate in multiple-dealer “tent sales” because its allocation of vehicles was shipped to the tent location rather than to the dealership. In addition, HGTG was required to sell SET-related companies’ extended service policies and financing with respect to any “tent sale”. Petitioner consulted SET’s vice president of sales regarding HGTG’s poor performance, and it was suggested that Jordan was not an effective manager and should be replaced by Tom Strickland (Strickland), who was connected with SET. Ultimately, Strickland, beginning on April 14, 1988, became involved with HGTG by purchasing 15 percent of its shares and becoming its president and general manager. In October 1988, Strickland’s relationship with HGTG ended, and at that time petitioner found that HGTG’s obligation to the finance company had not been paid under the floor plan financing agreement for the cars that had already been sold. HGTG’s financial problems became public, and petitioner experienced great stress for which he was treated by a doctor. For the next several months petitioner was occasionally hospitalized for his condition, and, upon his July 1989 release from the hospital, hePage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011