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Thursday, April 29, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Dodd, Dems Have Table Set For Them On Regulatory Bill
In Financial Regs Debate, Senators Look to Details
Wall Street, Bankers, Business Execs Lobby Congress
Rejected Chrysler Dealers Likely Will See Critical E-mails, Judge Says
Toyota Announces Another Recall
Secrecy Cloaks Marchionne's Vision for Chrysler
U.S. Bill May Limit Carmaker Hiring of Ex-Regulators
Cruising Into China's Booming Car Market
Asbury Automotive Revenue Up 17 Percent
NADA Marketplace
NADA University Offers Red Flags Help as June 1 Enforcement Date Draws Near
Top Stories
Dodd, Dems Have Table Set For Them On Regulatory Bill

Senate Banking Chairman Christopher Dodd will be holding the legislative equivalent of a full house when he kicks off debate today on his legislation to revamp the nation's financial regulatory system. (Read more)
Source: CongressDaily

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In Financial Regs Debate, Senators Look to Details

With Republicans ceding the way for debate, legislation to impose sweeping new controls on financial institutions faces a test from both parties. (Read more)
Source: The Associated Press

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Wall Street, Bankers, Business Execs Lobby Congress

Hundreds of bankers, auto dealers and Wall Street executives are descending on Congress this week in separate bids to influence the financial reform bill before it can become law. (Read more)
Source: Reuters

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Rejected Chrysler Dealers Likely Will See Critical E-mails, Judge Says

WASHINGTON -- A U.S. Bankruptcy Court judge wants two rejected Chrysler dealers to see sealed company e-mails personally critical of them -- documents their lawyers say will support a claim that the stores were closed for reasons other than performance. (Read more)
Source: Automotive News

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Toyota Announces Another Recall

Toyota announced a second recall Wednesday related to the vehicle stability control system on its sport utility vehicles, this one concerning the 2003 model year Sequoia. (Read more)
Source: The New York Times

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Secrecy Cloaks Marchionne's Vision for Chrysler

CEO inspires, but lack of information on new products criticized
There is growing consensus that Chrysler Group LLC is a healthier company than the Chrysler that entered bankruptcy a year ago Friday. But even Chrysler's most optimistic supporters wish the automaker weren't keeping evidence of its progress secret -- especially about new models being readied for sale. (Read more)
Source: The Detroit News

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U.S. Bill May Limit Carmaker Hiring of Ex-Regulators

Automakers would be prevented from hiring former safety regulators under a bill introduced by U.S. Senator Barbara Boxer in response to inquiries about Toyota Motor Corp.’s influence on government recall decisions. (Read more)
Source: Bloomberg

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Cruising Into China's Booming Car Market

BEIJING -- Mark McLarty last October bought a controlling stake in Northern China German Automotive, a Beijing-based dealer group that sells BMWs, Mini Coopers, and Volvos. The company, which has a dozen stores in northeastern China, booked revenue of nearly $1 billion last year and hopes to top $2 billion by next year. (Read more)
Source: The Wall Street Journal

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Asbury Automotive Revenue Up 17 Percent

DETROIT -- U.S. auto dealership group Asbury Automotive Group Inc. posted a sharp jump in quarterly net profit on higher new-vehicle sales and cost cuts. (Read more)
Source: Reuters

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NADA Marketplace
NADA University Offers Red Flags Help as June 1 Enforcement Date Draws Near

With the revised June 1, 2010 enforcement date for the FTC Red Flags Rule rapidly approaching, dealers should ensure their required Identity Theft Prevention Programs (ITPPs) incorporate all of their covered accounts, include all relevant Red Flags, contain effective response and detection procedures, address all of the Rule’s other requirements, and are appropriately tailored to their particular operations. (Read more)
Source: NADA University

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Quotable
 
"We didn't do anything to contribute to the financial meltdown on Wall Street. Why would you include us?"

   
-- Boston auto dealer Raymond Ciccolo, after meeting Republican Sen. Scott Brown and an aide to Democratic Sen. John Kerry on the financial reform bill, Reuters, April 28
Video Highlights
 

CBS Evening News: NADA Chairman Says Dealers Are Not Banks


C-SPAN: Sen. Brownback on Need to Exclude Auto Dealers from Financial Reform

NADA Marketplace 
 

NADA University: 'We Build Champions'


 
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