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Top Stories
Health-Care Bill Clears Crucial Vote in Senate, 60-40
Spyker Cars Renews Bid to Buy Saab from GM
GM's Whitacre Reports First Payments to US, Canada
Hyundai Sales Rise During 2009 Auto Crisis
Opinion: Another Federal Bludgeon
NADA Convention
NADA Offers Dealers $200 Voucher as an Extra Incentive for Attending Convention
NADA Enhances Convention Experience Through Social Media
Year-End Reminders
Dealer Notification for Body Shop Air Emissions Rule Due Jan. 11, EPA Says
Don't Forget Recent Changes to the Net Operating Loss Carryback Rules
Tax Break Reminder: Only Days Left to Take Advantage of New Vehicle Sales Tax Deduction
FTC Issues New 'Optional' Model Privacy Notice
Top Stories
Health-Care Bill Clears Crucial Vote in Senate, 60-40

Senate Democrats won a milestone victory early Monday in the health-care debate, approving a procedural motion to move the reform legislation to final passage later this week, and without a single vote to spare. The 60-40 tally, taken shortly after 1 a.m., followed 12 hours of acrimonious debate and required senators to trek to the Capitol in the aftermath of a snowstorm. The vote was the first of three procedural hurdles that Democrats must cross before a final vote on passage of the measure, now scheduled for Christmas Eve. "This is major reform," White House senior political adviser David Axelrod said Sunday on NBC's "Meet the Press." "It's not perfect. And over time, it may improve," he said.
Source: The Washington Post

Editor's note: While further procedural votes are expected, a Senate vote on final passage of the health care legislation is likely later this week. Dealers should contact their senators now by calling the Capitol switchboard at (202) 224-3121 and inform them about the serious costs this bill will add to an already challenging business environment. Click here to read a letter describing these costs in detail. The letter was signed by NADA and sent to every senator.

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Spyker Cars Renews Bid to Buy Saab from GM

STOCKHOLM -- In a final attempt to rescue Saab Automobile AB, Dutch auto maker Spyker Cars on Sunday submitted a new offer to buy the Swedish brand from General Motors Co. Spyker said it has submitted a new 11-point proposal to GM, addressing the issues that made talks collapse earlier this week. GM on Friday said it would wind down Saab because issues arose during the sales talks with Spyker that could not be resolved, and the window of time to complete a deal was small. Spyker Chief Executive Officer Victor R. Muller said he hoped the new offer would make GM change its mind. "We are very confident that our renewed offer will remove the impasse that was standing in the way of an agreement on Friday, and this would still allow us to conclude the deal prior to the expiry of the deadline originally set by GM of Dec. 31," he said in a statement. "We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer," he added.
Source: The Associated Press

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GM's Whitacre Reports First Payments to US, Canada

DETROIT -- General Motors Co. Chief Executive Officer Ed Whitacre said on Friday that GM has paid $1 billion to the U.S. Treasury and $192 million to the governments of Canada and Canadian province Ontario. This is the first regular payment for GM of the $8 billion of bailout debt that the company says it will have paid off in June. Whitacre on Tuesday said that (the) automaker would repay its government loans by June, the first time a GM official had set that short of time to settle the debt. "We are grateful for the support the governments have provided us. We look forward to continuing repayments through June 2010, at which time the balances will be paid in full, assuming no downturn in the economy or business," Whitacre said Friday in a statement.
Source: Reuters

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Hyundai Sales Rise During 2009 Auto Crisis

LOS ANGELES -- Hyundai Motors Co. can claim something no other major carmaker can: It sold more cars in 2009 than it did in 2008. While automotive sales industrywide have fallen by 23.9 percent in the U.S. and carmakers struggle to survive, Hyundai has thrived. "In 2009, we learned to never let a crisis go to waste," said John Krafcik, Hyundai U.S. president ... Hyundai holds 4.3 percent of the U.S. market, up from 3.1 percent through November 2008, according to Autodata Corp.
Source: The Detroit News

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Opinion: Another Federal Bludgeon

The economy doesn't need a bigger, badder, FTC.
Buried in the House financial reform is a provision that would muscle up the FTC and radically expand its mission. Pushed by ... Henry Waxman and Barney Frank, the language would empower the FTC to impose civil penalties on companies that are first-time offenders and make it easier for the agency to concoct new rules. The law, supported by FTC Chairman Jon Liebowitz, would also invest the agency with the power to independently litigate civil penalty cases rather than going through the Department of Justice. The idea is to create a more activist regulatory model a la the Securities and Exchange Commission.

That's not necessary: Repeat offenders can already be hit with civil penalties, and in fraud cases the FTC can get an order from a judge tying up assets, thereby making civil penalties superfluous. The FTC also has the power to pass rules for which civil penalties are the standard remedy for violation. In still other instances, Congress can specify civil penalties. ... As former FTC Chairman Tim Muris told the Senate Commerce Committee in July, "rather than enhancing consumer welfare, overly burdensome rules can harm the very market processes that serve consumers' interests." ... For 30 years, since the excesses of the 1970s, the FTC has interpreted its mandate in relatively market-oriented fashion, using (and occasionally overusing) its antitrust enforcement as the lever for keeping markets competitive. If it now expands into a rule-making agency, it will become one more club to beat up the private economy.
Source: The Wall Street Journal

Editor's note: Early next year, the Senate is expected to consider legislation which would dramatically expand the FTC's ability to regulate auto sales and financing practices. In 1975, the Magnuson-Moss Act was enacted to prevent the commission from overreaching into areas where Congress had intended them not to regulate. The Senate is considering repealing these limits which could subject dealers to onerous and potentially harmful rules on a wide variety of matters.

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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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Year-End Reminders
Dealer Notification for Body Shop Air Emissions Rule Due Jan. 11, EPA Says

The Environmental Protection Agency’s (EPA) rule governing hazardous air pollutants (HAPs) requires existing body shops to file an Initial Notification Form by Jan. 11, 2010. Full compliance, due by Jan. 11, 2011, requires that dealership body shops:

1.  Paint only inside filtered, ventilated paint booths or prep stations.
2.  Use high transfer efficiency application equipment.
3.  Clean guns with non-hazardous solvents, in gun-enclosed washers, or using a method that does not involve atomized spraying to the open air. 
4.  Have painters trained and certified every five years.
5.  Keep basic records demonstrating compliance.

The rule also:
1.  Allows a shop to petition for an exemption if it does not spray coatings with any of the above-listed HAPs of concern.  
2.  Excludes the spraying of coatings from hand-held guns with paint cups of 3.0 fluid ounces or less.

Also, paint stripping involving methylene chloride (MeCl) is significantly regulated for shops using more than one ton of MeCl per year. Where possible, body shops should avoid the use of strippers containing MeCl.

For more information, see the bulletin and forms at www.nada.org/bodyshop (login required). Additional info will be available at NADA University early next year. Questions on the new rule may be directed to NADA Regulatory Affairs at regulatoryaffairs@nada.org or (703) 821-7040.
Source: NADA Newswire

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Don't Forget Recent Changes to the Net Operating Loss Carryback Rules

As previously noted, Congress expanded the Net Operating Loss carry-back in November. As the end of the year approaches, dealers are reminded to review these recent changes with their tax professional. For details, click here.
Source: NADA Newswire

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Tax Break Reminder: Only Days Left to Take Advantage of New Vehicle Sales Tax Deduction

Dealers are reminded that there are only a few days left in 2009 for car shoppers to take advantage of the new-vehicle sales tax or excise tax deduction. The Internal Revenue Service issued a reminder to taxpayers that they only have until Dec. 31. Click here for the IRS bulletin and visit www.nada.org/stimulustaxguide for more details and other important 2009 end-of-year tax considerations.
Source: NADA Newswire

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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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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?

NADA’s new online matchmaking program networkNOW! can connect you to nearly 400 exhibitors in 30 product categories, set up appointments and even create your own floor plan route at the NADA convention. networkNOW! can be accessed with the “Ecode” and Web address you received after registering. Once your profile is submitted, networkNOW! works 24/7 now through the convention to match you with products and services that can help improve your business. And don’t forget, dealers and managers will receive a $200 voucher at registration to spend on the expo floor. Register today! For more information, 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. 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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NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to media@nada.org.