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Top Stories
Closed Dealers Seek U.S. Help
Rejected-Dealer Talks: A Rift Over What's Fair
All Clunkers Claims Approved, Government Says
Life on Saturn? It's Up to Penske
Confidence, Optimism Grow in Pockets of U.S. as Firms Rehire
Filing Deadline Today for Rejected Dealers in Chrysler Bankruptcy
Top Stories
Closed Dealers Seek U.S. Help

Talks Set on Future of Shuttered GM, Chrysler Franchises
A group representing closed Chrysler and General Motors franchises is appealing to lawmakers and other government officials in preparation for talks that begin Wednesday to decide what, if anything, will be done for automobile dealers cut off by the industry's restructuring. "We've got everybody at the table, and we are hoping we can get an agreement that will allow these dealerships to be treated fairly, or at least have the opportunity to get a fair hearing and appeal their closure," said Rep. Chris Van Hollen (D-Md.)
Source: The Washington Post

Editor's Note: NADA appreciates the efforts from members of Congress to secure this important meeting, and looks forward to participating in these discussions.

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Rejected-Dealer Talks: A Rift Over What's Fair

WASHINGTON -- Even before scheduled dealer-rights talks begin this week, dealer groups and the two automakers involved are far apart in how much compensation they think rejected dealerships should get. NADA Chairman John McEleney said both companies' payments were inadequate, although GM's were "dramatically more fair" than Chrysler's. "The bankruptcies just wiped out some dealers -- in many cases, through no fault of their own," he said. NADA and three other dealer groups proposed that rejected dealers get $3,000 per vehicle sold in 2006, 2007 or 2008, with the year to be chosen by the dealer.
Source: Automotive News

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All Clunkers Claims Approved, Government Says

The U.S. Transportation Department has approved all “eligible and complete” cash-for-clunkers claims from dealers, leaving only 2 percent of all applications for dealers to revise and resubmit, Secretary Ray LaHood said [Friday]. A total of 664,818 claims for $2.8 billion, or 98 percent of all applications, have been paid or approved for payment as of [Friday] morning ... NADA released a statement praising the government for its efforts. "NHTSA was handed a nearly impossible task by Congress. We don't think any government agency worked harder than NHTSA this summer, and in the end, dealers and consumers benefited," said Michael Harrington of NADA. Another group of dealer claims might be spawned by a Transportation Department rule adopted [last] week. The rule would allow new applications from dealers who were blocked from filing by federal computer problems.
Source: Automotive News

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Life on Saturn? It's Up to Penske

Desperate dealers see business legend as brand's last hope
Saturn dealers have their fingers crossed that [Roger] Penske, 72, an auto magnate who saved Detroit Diesel, will take control of the cast-off General Motors brand. But dealers already know two things: 1. If Roger Penske takes up the challenge, he intends to remake Saturn with shaved dealer profits, less generous operating rules and a smaller factory organization to support it. 2. They have no choice in the matter.
Source: Automotive News

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Confidence, Optimism Grow in Pockets of U.S. as Firms Rehire

The nation's unemployment rate is 9.7% ... Even so, signs of recovery are beginning to emerge. Although 84% of Americans said in a USA TODAY/Gallup Poll this month that they believe the nation is in a recession, 52% said things are getting better. Almost two-thirds expect the economy to be better but not fully recovered a year from now.
Source: USA TODAY

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Filing Deadline Today for Rejected Dealers in Chrysler Bankruptcy

Rejected Chrysler dealers are reminded that they have until 5 p.m. Eastern Time today to file proofs of claims with the U.S. Bankruptcy Court. For information from NADA regarding the filing of claims, click here. Examples of the types of claims dealers may file are provided in the attached document.
Source: NADA Newswire

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Quotable
 
"We've got everybody at the table, and we are hoping we can get an agreement that will allow these dealerships to be treated fairly, or at least have the opportunity to get a fair hearing and appeal their closure."

    -- Rep. Chris Van Hollen (D-Md.), sponsor of legislation to restore the rights of dealers targeted for closure in the GM and Chrysler bankruptcies, The Washington Post, Sept. 26

Video Highlights
 

Crisis Timeline: NADA in High Gear (NADA-TV)


Media Coverage: The Tragedy of Dealer Closings (NADA-TV)



NADA's New Buy Now Campaign


 Senate Testimony on Floorplan Loans (NADA-TV) 
 NADA Tackles Industry Crisis (NADA-TV) 
NADA on the Front Lines  (NADA-TV)

Click here for more video reports.
2010 Convention
 
 

Did you know?

As a bonus for attending the NADA convention, you can attend two workshop sessions on Friday afternoon before the convention starts at no extra charge!

Click here for more money saving ideas or visit www.nada.org/convention and click the $$$ Savings icon. And for airline discounts, check out our airfarewatchdog in the money saving section.

Be in the know at the 2010 NADA Convention & Expo in Orlando, Fla., Feb. 13-15.

 
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