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Top Stories
Some Closed GM and Chrysler Dealers Could Get Reprieve Under Spending Bill
NADA Commends the U.S. Senate for Passing Dealers Rights Amendment in Spending Bill
House Votes to Reform Financial Regulations
Dealers Spared as House Passes Financial Regulation Bill
NADA Marketplace
NADA Enhances Convention Experience Through Social Media
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
Some Closed GM and Chrysler Dealers Could Get Reprieve Under Spending Bill

Hundreds of General Motors and Chrysler dealers will be able to seek arbitration about the loss of their franchises under the spending bill that's going to President Obama's desk. The $1.1 trillion funding measure includes provisions that create an arbitration process that could result in some of the dealerships allowing to stay open. The National Automobile Dealers Association fought for what it calls the "dealers rights" provision while the two troubled automakers fought it. "As with any compromise, this is not a perfect solution. However, this is far better than any of the previous proposals," the association said in a statement.
Source: USA TODAY

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NADA Commends the U.S. Senate for Passing Dealers Rights Amendment in Spending Bill

WASHINGTON -- The National Automobile Dealers Association (NADA) issued the following statement (Sunday) after the U.S. Senate voted 57-35 to pass the spending bill, which includes the NADA-backed dealer rights provision:

"NADA commends the Senate and House leaders who fought to keep the dealer rights amendment in the spending bill. We look forward to the President signing this into law soon.

"The dealer rights provision will provide affected General Motors and Chrysler dealers and their respective automakers with a fair arbitration process to resolve ongoing concerns about recent dealership closures. As with any compromise, this is not a perfect solution. However, this is far better than any of the other previous proposals. It's appropriate for members of Congress to pass this legislation during the same week they focused on Main Street small businesses and jobs.

"Congressional passage of the dealer rights amendment is the culmination of months of work by NADA and other dealer groups to obtain a fair and meaningful arbitration process for affected dealerships.

"Assistant Senate Majority Leader Richard Durbin, D-Ill.; Sen. Chuck Grassley, R-Iowa, the lead sponsor of the legislation in the Senate; Sen. John D. Rockefeller, D-W.V., chairman of the Senate Commerce Committee; and Sen. Kay Bailey Hutchison, R-Texas, deserve a lot of credit for their efforts to gain a fair resolution for dealers.

"Numerous meetings were also held 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., as well as House Appropriations Committee Chairman David Obey, D-Wis., and other committee members who strongly backed the proposal of Rep. Steve LaTourette, R-Ohio. Rep. LaTourette and the House Democratic leadership deserve tremendous credit for their persistent efforts to find a fair resolution for affected dealers.

"During a year with so many other pressing national issues, these House and Senate leaders devoted a significant amount of their time to address the dealer closure issue. And we very much appreciate their efforts."
Source: NADA Newswire

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House Votes to Reform Financial Regulations

More than a year after the near-collapse of Wall Street plunged the economy into crisis, a divided House on Friday approved the most sweeping overhaul of the nation's financial regulatory system since the Great Depression. The bill's passage marks a milestone in the Obama administration's efforts to rein in the abuses that contributed to the crisis and to prevent similar failures in the future. Despite Friday's victory for administration officials, the elation won't last long. An uncertain road lies ahead in the Senate, where success requires a three-fifths majority and where support from key Democrats is far from certain. Faced with so many competing interests, (Rep. Barney) Frank, (D-Mass.) often was forced to compromise. He exempted groups such as retailers, lawyers, auto dealers and real-estate brokers from oversight by the new consumer agency.
Source: The Washington Post

Editor's note: Click here for the sidebar story, "The road to reform," which highlights auto dealers as one of the winners in the House-passed financial reform plan.

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Dealers Spared as House Passes Financial Regulation Bill

WASHINGTON -- Auto dealers would be exempt from oversight by a new Consumer Financial Protection Agency under a sweeping overhaul of financial regulations passed (Friday) by the House. The 1,279-page bill passed by a 223-202 vote, with no Republicans supporting it. The legislation backed by the Obama administration now goes to the Senate, where the banking committee has postponed consideration until next month. The measure faces tougher sledding there, with opposition led by Sen. Richard Shelby, R-Ala. An amendment to subject dealer-assisted financing to some Consumer Financial Protection Agency oversight was introduced by Rep. Melvin Watt, D-N.C., and withdrawn (Friday). The National Automobile Dealers Association had lobbied against the amendment. “It is quite clear that representatives on both sides of the aisle realize that auto dealers were not part of the problem which caused the economic downturn,” said David Westcott, head of NADA's government affairs panel.
Source: Automotive News

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NADA Marketplace
NADA Enhances Convention Experience Through Social Media

Follow the latest convention developments and interact with attendees, workshop presenters and exhibitors on LinkedIn, Facebook, Twitter and YouTube
To enhance the experience for attendees, NADA—for the first time—has launched a social media campaign using the popular LinkedIn, Facebook, Twitter and YouTube platforms. “By using these social media sites, dealers and exhibitors can get a head start on what to expect at the convention,” says Steve Pitt, NADA vice president of conventions and expositions. “Attendees will receive breaking news announcements. Dealers and their managers will also be able to interact online with instructors before workshops begin and get a jump-start on reviewing exhibitor products and services that can improve their businesses.” To follow convention developments on the social media sites, visit www.nada.org/convention and click on the icons.
Source: NADA Newswire

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NADA Offers Dealers an Extra Incentive to Attend Upcoming Convention

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 dealer rights provision will provide affected General Motors and Chrysler dealers and their respective automakers with a fair arbitration process to resolve ongoing concerns about recent dealership closures."

    -- NADA, in a statement Sunday after the dealer rights amendment in the spending bill passed in the U.S. Senate by a vote of 57-35, The Detroit News, Dec. 14


"The legislation that is happening is a good thing -- to bring integrity and the right decisions for the companies and the families of our dealers across the land. It is an opportunity for all of us to make the right decisions and move on. The relationships of dealers and customers is my highest priority. Period."

    -- GM's new North America president, Mark Reuss, praising a bill in Congress that mandates binding arbitration for more than 1,350 dealers the automaker plans to close by October, The Detroit News, Dec. 12


"It is quite clear that representatives on both sides of the aisle realize that auto dealers were not part of the problem which caused the economic downturn."

   
-- David Westcott, chairman of NADA's Government Affairs Committee, referring to the House-passed legislation that exempts auto dealers from the  oversight of the Consumer Financial Protection Agency, Automotive News, Dec. 11

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


Lenovo continues to provide NADA members and their employees with exceptional pricing during the holiday season. Save up to 42 percent on select PC products. Lenovo's systems are designed for the way you work. To take advantage of this offer, visit NADA's PC Purchase Program site (member login required.) This offer expires Dec. 17.

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