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Top Stories
GM Generates $3.3 Billion in Cash, Will Start Repaying Loans
Retail Sales Rise on Autos
Dealers Oppose Health Bill; Automakers Are Mum
Clermont Dealer is Going 'Green'
Committed to Community: Making Dreams a Reality for Children Fighting Cancer
NADA Marketplace
Nov. 18 Webinar to Address New IRS Field Directive on UNICAP and What It Means for You!
NADAPerks: Nov. 19 Webinar 'Detecting and Preventing Fraud in Dealerships'
Experient Inc. is NADA's Official Housing Bureau for the NADA Convention
Top Stories
GM Generates $3.3 Billion in Cash, Will Start Repaying Loans

General Motors Co., signaling confidence in its recovery from bankruptcy, said it generated $3.3 billion in cash in the third quarter and plans to start repaying government loans early. “We are ahead of the bankruptcy plan, not only in operations, but with some contingencies we provided for that we have been able to manage,” (Chief Executive Officer Fritz Henderson) said in a Bloomberg Television interview. Borrowing from the U.S., Canadian and Ontario governments will be repaid in quarterly installments from escrowed funds, beginning next month with an initial $1.2 billion payment, GM said.
Source: Bloomberg

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Retail Sales Rise on Autos

WASHINGTON -- Retail sales increased 1.4%, the Commerce Department said (today), much better than the 0.9% increase projected by Wall Street for the first month of the fourth quarter. Concerns have mounted that joblessness, a remnant of the severe recession, will stop people from spending money and thwart the recovery. But any job fears didn't stop U.S. sales of autos and parts rebounding partly, up by 7.4% in October after September sales had fallen 14.3%.
Source: The Wall Street Journal

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Dealers Oppose Health Bill; Automakers Are Mum

As the Senate moves to consider the $1.1 trillion health care bill passed by the House, lobbyists for car dealers and those for auto workers are lining up on opposite sides while automakers sit out the debate for now. The National Automobile Dealers Association and American International Automobile Dealers Association have joined a small-business coalition to oppose the bill. The 58-group coalition has cited the legislation's requirements that employers provide coverage and the measure's imposition of a tax penalty on employers that don't.
Source: Automotive News

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Clermont Dealer is Going 'Green'

CLERMONT, Fla. -- Headquarter Honda, a new dealership under construction in Clermont, (Fla.) ... is being built to achieve LEED Platinum certification, meaning that it should meet the extremely aggressive standards set by the Leadership in Energy and Environmental Design, in conjunction with the U.S. Green Building Council. "It costs about 35 percent more to build to LEED Platinum standards," said Jero Esteve IV, general manager of the dealership, which will open next March. "We hope to recoup that over a 10-year period," but the main reason Esteve's family-owned company is doing it is "because it's the right thing to do."
Source: Orlando Sentinel

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Committed to Community: Making Dreams a Reality for Children Fighting Cancer

CHARLESTON, S.C. -- For the past 10 years, the Trident New Car Dealers Association has provided funding to Camp Happy Days, an organization that provides once-in-a-lifetime experiences to children diagnosed with cancer. Its mission is to offer hope and encouragement to children and their families by providing year-round programs, special events and access to crisis resources. The dealer group sponsors the annual trip to Disney World in Orlando. Earlier this year, 21 children and their siblings visited five of the city’s most famous theme parks. “We look forward to continuing to help bring joy to kids with cancer,” says Rob Marchant, association president and dealer/operator of Marchant Chevrolet, Inc., in Ravenel, S.C. Camp Happy Days is a non-profit organization based in Charleston, S.C. For more information, visit www.camphappydays.com.
Source: NADA Newswire

Editor's Note: If you have a story about involvement in your community, send it to publicaffairs@nada.org.

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NADA Marketplace
Nov. 18 Webinar to Address New IRS Field Directive on UNICAP and What It Means for You!

NADA will present IRS Motor Vehicle Technical Advisor Terri Harris in a Webinar on the Uniform Capitalization Rules (UNICAP) directive on Wednesday, Nov. 18, from 1-3 p.m. EST. Here’s the background: On Sept. 15, the IRS Director for the Heavy Manufacturing and Transportation (HMT) Industry issued a memo that provides direction to IRS field examiners on how to conduct UNICAP audits at car and truck dealerships. The unofficial directive contains an audit toolkit and announces the suspension of new UNICAP audits through Dec. 31, 2010, to provide dealers with an opportunity to change their accounting methods in order to comply with a September 2007 Technical Advice Memorandum [TAM 200736026] that involved a franchised car dealer. The Industry Director issued the field directive to address the "high level of taxpayer noncompliance on this issue" and because it represents "the highest compliance risk" to the industry. So what does this mean for dealers?

NADA will tackle this issue in an interactive Webinar that will feature a powerpoint presentation by IRS advisor Terri Harris. The program will be moderated by Paul Metrey, director of NADA's Regulatory Affairs. About 30 to 60 minutes of the Webinar will be devoted to Q&A. Cost of the Webinar is only $199 per computer connection. Registrants will have access to the Webinar recording for up to six months. Register online at www.nada.org/seminars or call (800) 248-6232, ext. 7273.
Source: NADA Newswire

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NADAPerks: Nov. 19 Webinar 'Detecting and Preventing Fraud in Dealerships'

The complimentary NADAPerk for November is the mini-Webinar, "Detecting and Preventing Fraud in Dealerships," at 1 p.m. ET, Thursday, Nov. 19. Dan Cheyney and Nancy Young of Moss Adams, LLP will discuss common examples of fraud, the fraudster employee and the internal control system—and they will provide practical advice for dealing with fraud. Complimentary monthly NADAPerks are a members-only benefit. Click here to register.
Source: NADA Newswire

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Experient Inc. is NADA's Official Housing Bureau for the NADA Convention

NADA has made arrangements with Experient Inc. to book hotel rooms for the upcoming NADA Convention & Expo in Orlando. NADA has NOT authorized any other organization or company to make hotel reservations for the convention. E-mails, phone calls or other communications from “Expo Marketing” or “Expo Housing” or any other third party are not being sent by NADA or on behalf of NADA. To register and reserve a hotel room for the convention, visit www.nada.org/convention.
Source: NADA Newswire

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Quotable
 
"The numbers are encouraging. What it demonstrates is that the government gave GM a reorganized balance sheet that made them more competitive."

   
-- Auto consultant Maryann Keller on GM's plans to start repaying government loans early, signaling confidence in its recovery from bankruptcy, Bloomberg, Nov. 16
Video Highlights
 

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


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



NADA's 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
 


NADA Chairman: Convention is the 'Must-Attend Event'

Did you know?

As a bonus for attending the NADA convention, you’ll receive Steve Miller’s Marketing Stimulus Package, which includes the seven-part video series, “Introduction to the Seven Foundational Concepts for a Successful Marketing Strategy” and once a week for 12 weeks you’ll also receive valuable marketing tips, tactics or tools designed to help generate more prospects and customers.

Already registered? Check your e-mail for instructions to access these marketing tips. For more information or questions, contact
expo@nada.org.


Be in the know
at the NADA convention Feb. 13-15.


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Save on HP's dx9000 TouchSmart PC

HP’s dx9000 TouchSmart Business PC can transform your desktop experience with this sleek, touch-enabled PC – now only $1,287.08. To take advantage of this offer, visit NADA's PC Purchase Program site (member login required). Offer expires Nov. 30.

 
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