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Top Stories
Obama's Signature Kicks Off Arbitration Process for Rejected GM, Chrysler Dealers
Effort to Extend Estate Tax Fails
Three Top Toyota U.S. Execs to Retire
Sweeney Tapped to Head Buick GMC
Mazda May Follow Suzuki, Mitsubishi With Alliance
FTC Issues New 'Optional' Model Privacy Notice
NADA Convention
NADA Offers Dealers $200 Voucher as an Extra Incentive for Attending Convention
NADA Enhances Convention Experience Through Social Media
NADA Marketplace
Scam Alert: Individuals Are Posing as NADA Insurance Reps.
Follow NADART on Twitter
Top Stories
Obama's Signature Kicks Off Arbitration Process for Rejected GM, Chrysler Dealers

WASHINGTON -- President Barack Obama signed legislation that would give rejected General Motors Co. and Chrysler Group dealers access to neutral arbitration if they want to be reinstated, kicking off a a six-and-a-half months arbitration process. GM and Chrysler now have 30 days to send letters to the owners of about 2,150 rejected dealerships informing them of their rights under the new law and spelling out the reasons that their franchise agreements were terminated. With Obama's signature, the eliminated dealerships have 40 days to give notice that they intend to seek arbitration. Arbitration must be completed within six months, and dealerships that win must receive a letter of intent from the automakers within another 14 business days.
Source: Automotive News

Editor's note: Click here for the NADA memo that is being distributed to GM and Chrysler dealers regarding the new law.

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Effort to Extend Estate Tax Fails

Levy set to expire Jan. 1, setting up a political standoff; Democrats promise new push
WASHINGTON -- The federal estate tax will likely expire as scheduled Jan. 1, creating dilemmas for politicians of both parties and roiling tax planning for thousands of Americans. Senate Democratic leaders Wednesday failed in a last-ditch effort to pass a short-term extension to override the tax's expiration, a process put into motion during the Bush administration. If Congress does nothing, it pops back into effect in 2011, at the Clinton-era top rate of 55%, with a $1 million exclusion. Lawmakers already were promising Wednesday to revisit the issue early next year.
Source: The Wall Street Journal

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Three Top Toyota U.S. Execs to Retire

LOS ANGELES -- The top-ranking strategic planning, product planning and public relations executives within Toyota's U.S. operations will retire within the next two months. Although Toyota is known for having a deep bench, the losses of Steve Sturm, Dave Danzer and Irv Miller come at a time when Toyota seeks to rebound from the industry's tough 2009, as well as to rebuild its declining public opinion following a barrage of unintended-acceleration complaints. Toyota did not announce replacements for the three executives.
Source: Automotive News

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Sweeney Tapped to Head Buick GMC

General Motors Co. has tapped Buick-GMC general sales manager Brian Sweeney as the new head of the brands, replacing Michael Richards who resigned last week after nine days on the job, according to sources. Sweeney has been the interim chief since Richards' departure. The appointment, expected to be announced today, solidifies management ranks upended last week by the surprise retirement of Chevrolet Vice President Brent Dewar and Richard's resignation. 
Source: The Detroit News

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Mazda May Follow Suzuki, Mitsubishi With Alliance

Mazda Motor Corp. may be the next Japanese carmaker to strike an alliance following plans by Suzuki Motor Corp. and Mitsubishi Motors Corp. to team up with overseas manufacturers, investors and analysts say. The companies are seeking to share costs for developing new models with the latest technology. Mazda may need to do the same as its 40-year-old ties to Ford Motor Co. weaken. “Carmakers like Mazda with annual sales of about only a million units need to be exploring partnerships to survive,” said Yoshiaki Kawano, an analyst in Tokyo at auto consulting company CSM Worldwide. As the demand for hybrid, electric and other next-generation cars increases, carmakers find it too expensive to develop the technology alone, Kawano said. That partly explains why Hamamatsu-based Suzuki last week agreed to sell a 19.9 percent stake to Wolfsburg, Germany-based Volkswagen. France’s PSA Peugeot Citroen and Mitsubishi Motors are discussing deepening a partnership that would include an equity investment.
Source: Bloomberg

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FTC Issues New 'Optional' Model Privacy Notice

As part of a statutory mandate to develop a more understandable template for privacy notices issued by dealers and other financial institutions, the Federal Trade Commission and the federal banking regulatory agencies have jointly issued a new model privacy notice that, beginning Dec. 31, 2009, will serve as a safe harbor for the language used in the notice for financial institutions that choose to adopt it. Dealers who continue to provide their finance and lease customers with a privacy notice that uses language from the sample clauses contained in Appendix A to the text of the original Privacy Rule (which required compliance by July 1, 2001) will lose safe harbor protection for the language used in those notices after Dec. 31, 2010. Accordingly, dealers should consider transitioning to the new notices before the end of 2010. For additional information, see NADA's announcement of this amendment to the FTC Privacy Rule at www.nada.org/regulations (click on "Search Regulatory Topics by Government Agency" and then click on "GLB Act: Privacy Rule" under Federal Trade Commission).
Source: NADA Newswire

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NADA Convention
NADA Offers Dealers $200 Voucher as an Extra Incentive for Attending 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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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 Marketplace
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
 
"Carmakers like Mazda with annual sales of about only a million units need to be exploring partnerships to survive."

    -- CSM Worldwide auto analyst Yoshiaki Kawano on the possibility of Mazda striking an alliance with an automaker to share costs of developing new models, Bloomberg, Dec. 17
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.


Lenovo's ThinkPad Year End Blow Out Sale


NADA members and their staff can now save up to 50 percent on select ThinkPads and other items. Lenovo has extended their Holiday Special until Dec. 30. Start the New Year with a laptop that you really want! To take advantage of this offer, visit NADA's PC Purchase Program site (member login required.) Enter eCoupon USPYEAREND at checkout.

Ultra-portable laptops starting as low as $792:

IdeaPad S12 - List Price: $449; Sale Price: $389
Lenovo G450 - List Price: $669; Sale Price: $439
Lenovo G450 - List Price: $699; Sale Price: $489
IdeaPad Y550 - List Price: $1,043; Sale Price: $559


 

Get more from your technology in 2010 with HP

• 5 percent off select desktop, notebook, and workstation purchases over $299
• 10 percent off select desktop, notebook, and workstation purchases over $999
• $1,000 in free solutions, services, and software with every hardware purchase
• 0 percent HP financing -- keep your cash and still update your technology

And, for a limited time, upgrade to free two-day shipping. This offer expires Jan. 31. Terms and conditions apply. To learn more about these and other specials offered to NADA members, visit NADA's PC Purchase Program site (member login required).

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