For optimal viewing through your web browser or PDA, click here.

SPONSORED BY
Click Here
NADA.org
Tuesday, Dec. 22, 2009 RSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top Stories
GM Lures Finance Chief from Microsoft
Saab Hopes Flicker as Spyker Rescue Bid Drags On
COBRA Benefits Expanded
Improving Ford Motor Co. Offers 2nd Buyout of Year
After Safety Recalls, Toyota's Reputation Needs Some TLC
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
GM Lures Finance Chief from Microsoft

Whitacre taps autos outsider to fix criticized department
General Motors Co. Chairman and CEO Edward Whitacre Jr. reached outside the auto industry to recruit a new chief financial officer from software giant Microsoft Corp.'s senior ranks. Microsoft CFO Christopher Liddell, 51, will become vice chairman and CFO of GM in Whitacre's latest move to speed up a cultural transformation at the struggling U.S. automaker. With Liddell's appointment, announced Monday, GM hopes to improve its financial management, which was criticized by members of President Barack Obama's auto task force as being among the worst they'd seen at a large corporation. As a GM vice chairman and CFO, Liddell will have a clear shot at succeeding Whitacre, 68, who has said he does not want to be a long-term chief executive.
Source: The Detroit News

[back to top]

Saab Hopes Flicker as Spyker Rescue Bid Drags On

AMSTERDAM -- Spyker Cars pressed ahead with efforts to cut a deal for Saab with General Motors, with talk of possible backing from a Dutch billionaire fanning the Swedish carmaker's faint hopes of an eleventh-hour reprieve. Shares in the Dutch luxury carmaker rose sharply on Tuesday after local media reported the bid, modified after GM said on Friday it would wind Saab down despite Spyker's ongoing interest, had won support from financier Marcel Boekhoorn. But in comments to a newspaper Boekhoorn denied he was involved, and the market remained skeptical that Russia-backed Spyker -- which extended its new offer to buy Saab shortly before it was set to expire on Monday -- would clinch a deal. "The new offer came as a surprise, and now there is the (report) of ... Boekhoorn who slipped in through the back door. That gives the shares a boost," said Keijser Capital trader Michael Jabroer. Russian banking tycoon Vladimir Antonov holds a stake of almost 30 percent in Spyker, and Russia is keen to obtain Western technology to re-energize its car industry.
Source: Reuters

[back to top]

COBRA Benefits Expanded

President Barack Obama on Monday signed a measure to extend a federal subsidy for continued health-insurance coverage for involuntarily terminated workers under employer group plans. The law extends the subsidy an additional six months for a total of 15 months, up from the current nine. The subsidy applies only to workers let go by employers. Under COBRA, the Consolidated Omnibus Budget Reconciliation Act, severed workers can stay on their employer's group health plan for up to 18 months, or longer in some circumstances, provided they pay the full premium plus an administrative fee. With the subsidy, terminated workers pay 35% of the premium. Eligibility for the subsidy had been due to expire on Dec. 31 but has been extended to workers laid off between Jan. 1 and Feb. 28, 2010, in addition to those let go between Sept. 1, 2008, and Dec. 31, 2009, under the original program. The bill requires employers to notify current and future COBRA participants of the extended 15-month eligibility. For questions about COBRA, call the U.S. Department of Labor at (866) 444-3272 or visit www.dol.gov/cobra.
Source: The Wall Street Journal

Editor’s note: Dealers with former employees and certain beneficiaries eligible for continuing health insurance coverage may need to issue a new COBRA notice indicating that they may be eligible for a 65 percent reduction in premiums and that the subsidy was extended. Individuals who reached the end of the reduced premium period before the legislation extended it to 15 months will have additional time to pay the reduced premiums related to the extension. To continue their coverage, they must pay the 35% of premium costs by the later date of Feb. 19, 2010, or 30 days after notice of the extension is provided by their plan administrator. Click here for the NADA COBRA fact sheet.

[back to top]

Improving Ford Motor Co. Offers 2nd Buyout of Year

Ford offers buyout plan to 41,000
Less than two weeks after Ford Motor Co. said it would restore merit pay and other benefits to its salaried workers, the increasingly successful automaker is offering its 41,000 U.S. hourly workers their second buyout program of the year -- saying it has more workers than it needs. The offer, aimed at shedding an untold number of workers, comes after more than 70% of Ford's hourly workers last month rejected proposed concessions to their labor contract. Hourly workers have until Jan. 22 to decide whether they want to accept the offer, which Ford spokeswoman Marcey Evans emphasized is voluntary. Production and skilled trades workers are being offered early retirement or lump sum payments ranging from $20,000 to $50,000, and other benefits.
Source: Detroit Free Press

[back to top]

After Safety Recalls, Toyota's Reputation Needs Some TLC

LOS ANGELES -- As carefully crafted brand images go, it's hard to beat Toyota's. Over a generation or so, Toyota built its reputation — and U.S. market share — on dependability, at a time when General Motors, Ford Motor and Chrysler couldn't shake being identified with lemons. But Detroit's nemesis lately has suffered through its own run of bad press, much of it involving a consumer hot-button: vehicle safety. The company that once could do no wrong has stumbled badly though a series of embarrassments of disclosures, allegations and recalls. Experts now are debating how deeply these will eat into the consumer trust that is Toyota's most potent asset — and what it must do to recover. In addition to the safety issues, Toyota only now has started to recover from unprecedented monthly sales drops this year. Last spring. the Japanese parent company closed its first money-losing fiscal year since its official founding in 1950.
Source: USA TODAY

[back to top]

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

[back to top]

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

[back to top]

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

[back to top]

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

[back to top]

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

[back to top]

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

[back to top]

 
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 convention. Access networkNOW! with the “Ecode” and Web address you received after registering. Once your profile is submitted, networkNOW! works 24/7 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 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).

Click Here
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
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.