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Thursday, May 6, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Financial Overhaul Bill Gets Bipartisan Push in Senate
Chrysler Seeks Dealer Accords
Senate Panel Offers Major Auto-Safety Rule Changes
Automakers Want Cap if U.S. Safety Fines Go Up
Dealer Candidates Win 2 of 3 Primary Races
Chrysler Joins Incentive Push
GM Recalls Hummer H3s for Hood Parts that May Break Off
Dealers Eligible For Tax Benefits For New Hires
Top Stories
Financial Overhaul Bill Gets Bipartisan Push in Senate

In a rare show of bipartisanship, the Senate on Wednesday overwhelmingly approved an amendment to the financial regulatory bill aimed at ensuring that taxpayers never again be on the hook for bailing out collapsed banks and investment firms. (Read more)
Source: The Washington Post

Editor’s note: Dealer-assisted financing is included in the current Wall Street reform bill's broad definition of a “consumer financial product or service.” The proposed Bureau of Consumer Financial Protection would have new, broad and unprecedented powers - not just over banks but also Main Street auto dealers. Dealers could be required to undergo background checks and be subject to periodic bank-like examinations. Sen. Sam Brownback’s (R-Kan.) amendment strikes the proper balance and preserves the ability of consumers to secure affordable and competitive financing to purchase a car or truck. Dealers are urged to contact both their senators today and ask them to support the Brownback amendment. Senators can be reached through the Capitol switchboard at (202) 224-3121. For more information, visit www.nada.org/Brownback or contact NADA Legislative Affairs at legislative@nada.org or (202) 547-5500.

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Chrysler Seeks Dealer Accords

Chrysler Group LLC moved a step closer to resolving legal battles with some of its former dealers after 50 of them recently dropped efforts to appeal the action in arbitration. (Read more)
Source: The Wall Street Journal

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Senate Panel Offers Major Auto-Safety Rule Changes

WASHINGTON -- A Senate committee proposed Tuesday a major overhaul to the nation's auto-safety requirements following Toyota's prominent recalls. (Read more)
Source: Detroit Free Press

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Automakers Want Cap if U.S. Safety Fines Go Up

WASHINGTON - Major automakers will not object to higher fines for violating U.S. safety rules, but oppose a congressional proposal that would remove the cap on the maximum penalty. (Read more)
Source: Reuters

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Dealer Candidates Win 2 of 3 Primary Races

DETROIT -- Political primary day brought good news for two car dealers in Ohio. Tom Ganley and Jim Renacci won their races Tuesday for the Republican nomination to U.S. House seats. (Read more)
Source: Automotive News

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Chrysler Joins Incentive Push

Chrysler Group LLC began offering no-interest financing for up to five years on most of its vehicles in May, in a bid to boost showroom traffic and increase sales to individual customers as opposed to fleet buyers such as rental-car companies. (Read more)
Source: The Wall Street Journal

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GM Recalls Hummer H3s for Hood Parts that May Break Off

DETROIT -- General Motors Co. is recalling about 126,130 Hummer H3 models to address the risk that part of the hood could detach from the vehicle while driving. (Read more)
Source: Reuters

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Dealers Eligible For Tax Benefits For New Hires

The recently-enacted federal Hiring Incentives to Restore Employment (HIRE) Act, intended to spur hiring and help small businesses, includes two key potential dealer benefits for employees hired this year. (Read more)
Source: Internal Revenue Service

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Quotable
 
“What an incredible night." 

    -- Tom Ganley, Cleveland-area dealer, in a Twitter update Tuesday night after winning a primary for the Republican nomination to U.S. House, Automotive News, May 5

Video Highlights
 

Dealers to Senators: We Are Not Banks


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'

Red Flags Deadline Draws Near

With the revised June 1, 2010 enforcement date for the FTC Red Flags Rule rapidly approaching, NADA University has three ways you can find out if your dealership is adequately prepared. (Read more)


 
Think Speed. Think Savings. Think Lenovo!

NADA members may now use eCoupon USXMAYSAVINGS for an additional 5 percent off the sale price of the T410, X201, Y Series IdeaPad and K Series IdeaCentre. To see this promotion and all discounted products from Lenovo
, visit NADA's PC Purchase Program site (member log in required).

 

Only $549 for HP’s ProBook 4415s Notebook

Isn't it time to replace your worn-out PC? NADA members can save $388 on HP’s ProBook 4415s Notebook PC while supplies last. Included are the new Windows® 7 Professional, a full 14.0-inch display and a full-sized keyboard. To see this promotion and all discounted products from HP, visit NADA's PC Purchase Program site (member log in required).


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