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Top Stories
NADA Encouraged by Prompt Passage of Dealer Rights Amendment in the House
GM Won't Fight Dealer Arbitration Bill
NADA Successful in Effort to Protect Auto Dealer Exclusion in House Financial Reform Bill
Retail Sales in U.S Exceeded Forecasts in November
GM Close to Deciding Saab Buyer; Spyker Favored
Volkswagen Sales Rise 19% in Biggest Gain This Year
NADA Marketplace
NADA Offers Dealers an Extra Incentive to Attend Upcoming Convention
Scam Alert: Individuals Are Posing as NADA Insurance Reps.
Follow NADART on Twitter
Top Stories
NADA Encouraged by Prompt Passage of Dealer Rights Amendment in the House

WASHINGTON -- NADA is encouraged by the prompt action of the U.S. House of Representatives yesterday in passing the dealer rights amendment. The House voted 221-202 to pass the “Consolidated Appropriations Act of 2010” (H.R. 3288), which included the NADA-backed dealer rights provision.

The amendment will provide a fair process to address dealer concerns about the recent closures of General Motors and Chrysler dealerships, and will give affected dealers transparency and the right to arbitrate to regain their dealerships.

NADA is hopeful the Senate will take up the bill this weekend and that it will soon be sent to President Obama for his signature. The conference report on H.R. 3288 is not subject to further amendment. Yesterday Sen. Richard Durbin, D-Ill., the lead champion in the Senate and Assistant Majority Leader, reiterated that he did not expect changes to the dealer measure in the Senate. Because this is must-pass legislation, the President is expected to sign the measure.

House passage of the dealer rights amendment reflects months of work by NADA to obtain a fair and meaningful process for affected dealerships. During this time, NADA had countless meetings with the House Democratic leadership and amendment sponsors Reps. Steny Hoyer, D-Md.; Chris Van Hollen, D-Md.; Dan Maffei, D-N.Y.; and Frank Kratovil, D-Md.; and the other dealer groups.

NADA commends the efforts of House Appropriations Committee Chairman David Obey, D-Wis., and other committee members who strongly backed the proposal of Rep. Steve LaTourette, R-Ohio.

"These House leaders fought to keep the modified version of the amendment in the spending bill,” says David Regan, NADA vice president of legislative affairs. “Rep. LaTourette and the House Democratic leadership deserve tremendous credit for their persistent efforts to find a fair resolution for affected dealers.”

“During a time of so many other pressing national issues, these House members devoted a significant amount of time to the dealer closure issue and dealers should be certain to thank those members of Congress for their assistance,” Regan added.
Source: NADA Newswire

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GM Won't Fight Dealer Arbitration Bill

WASHINGTON -- General Motors Co. will not fight legislation that will mandate binding arbitration for more than 1,350 dealers it plans to close by October 2010. A GM official familiar with the company's thinking indicated GM would not file suit to halt the legislation. It's not clear whether Chrysler will fight it, but congressional aides suggested Chrysler won't go to court, either. Chrysler said this week it agrees with Congress "that arbitration is the best way to resolve the issues involving discontinued dealers."
Source: The Detroit News

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NADA Successful in Effort to Protect Auto Dealer Exclusion in House Financial Reform Bill

WASHINGTON -- This morning, Rep. Mel Watt, D-N.C., withdrew his amendment to the Consumer Financial Protection Agency (CFPA) Act. The Watt amendment would have included auto dealers in the jurisdiction of CFPA, the proposed government agency tasked with regulating consumer lending. 
 
Led by NADA's strong grassroots efforts, an amendment that was sponsored by Rep. John Campbell, R-Calif., to exclude auto dealers from CFPA jurisdiction has gained broad, bipartisan support in the U.S. House of Representatives. The House is currently considering sweeping legislation to overhaul the nation’s financial system.
 
To address concerns from Rep. Watt and other committee members, NADA worked with Rep. Campbell to clarify the scope of the exemption. Under the bill, banks and finance companies that fund and service auto loans arranged by dealers for their customers would be regulated by CFPA, including dealerships that operate “buy here, pay here” lots.

“It is quite clear that Representatives on both sides of the aisle realized auto dealers were not part of the problem that caused the economic downturn,” says David Westcott, chairman of NADA’s Government Affairs Committee and a multifranchise dealer from North Carolina. “Dealer-assisted financing is already effectively and efficiently regulated at both the federal and state levels.”
 
With the House expected to pass the bill later today, focus now turns to the Senate Banking Committee which will consider the financial reform legislation in early 2010.
Source: NADA Newswire

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Retail Sales in U.S Exceeded Forecasts in November

Sales at U.S. retailers rose more than forecast in November, a sign consumer spending is gathering speed heading into 2010. The 1.3 percent increase followed a 1.1 percent gain the prior month that was smaller than previously estimated, Commerce Department figures showed today in Washington. Auto sales are climbing back after plunging in September, the month after the government’s “cash-for-clunkers” plan expired. Purchases at car dealers increased 1.6, after jumping 7.1 percent in October.
Source: Bloomberg

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GM Close to Deciding Saab Buyer; Spyker Favored

MUNICH -- General Motors Co. is close to deciding which of Saab's bidders will proceed to final negotiations, Swedish news agency TT reported, citing a source. It said the preferred buyer is one of the groups already mentioned in the press, and that all in all, TT said, this pointed to Spyker as a favorite. Spyker first said on Dec. 2 it was interested in Saab, which GM is scrambling to sell after a deal with Koenigsegg Group AB ... collapsed last month.
Source: Automotive News

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Volkswagen Sales Rise 19% in Biggest Gain This Year

Volkswagen AG, Europe’s largest carmaker, posted the strongest monthly sales gain this year as the namesake brand and Audi luxury division won customers in their biggest markets. Deliveries in November increased 19 percent from a year earlier to 531,300 cars and sport-utility vehicles, the Wolfsburg, Germany-based company said today in a statement. “We’ve been able to exceed our expectations” in 11-month deliveries, Detlef Wittig, Volkswagen’s sales chief, said in the statement. “We’re on the right track with our model range that’s ecological and tailored to specific market needs.”
Source: Bloomberg

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NADA Marketplace
NADA Offers Dealers an Extra Incentive to Attend Upcoming Convention

McLEAN, Va. -- As an added incentive to attend NADA's upcoming Convention & Expo, all dealers and their managers will receive a $200 voucher when they check in at the convention in Orlando. The $200 voucher can be used to purchase any product or service from any exhibitor on the expo floor during the three-day convention, February 13-15, 2010. "During these challenging times, this is our way of showing our support for dealers around the country and the future of their businesses," says Steve Pitt, NADA vice president of conventions and expositions.
Source: NADA Newswire

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Scam Alert: Individuals Are Posing as NADA Insurance Reps.

NADA has learned that individuals from the Dealer Life Group in Florida are approaching dealers and identifying themselves as life insurance salesmen for NADA. NADA Insurance does NOT employ salesmen to call on dealers, and has NOT authorized the Dealer Life Group or anyone else to sell insurance for NADA.

Contact Lin Peacock, senior director of NADA Insurance Plans and Programs, at (703) 821-7229 immediately if you are approached by a life insurance salesman who claims to be representing NADA Insurance.
Source: NADA Newswire

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Follow NADART on Twitter

Did you know that NADA Retirement Administrators, Inc. (NADART) is on Twitter? NADART provides its followers with the latest information that will benefit the administration of any type of retirement plan, as well as assist plan participants as they save for their future. Join in on the latest discussions concerning 401(k) and retirement savings plans and follow recent updates involving DOL and IRS regulations, new government initiatives, savings tips, available plan features and industry news by visiting www.Twitter.com/NADART.

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Quotable
 
"The dealers were an unfair scapegoat."

   
-- Rep. Dan Maffei, D-N.Y., a supporter of the dealer rights legislation that passed the House Thursday, Dow Jones Newswires, Dec. 10
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?

All dealers and their managers who attend the NADA convention in Orlando, Feb. 13-15, will receive a $200 voucher at registration for the purchase of any product or service from any exhibitor on the expo floor. During these challenging times, this is NADA's way of demonstrating support for your business future. Register today! For more information or questions, contact expo@nada.org.

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


Holiday Savings From Lenovo


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