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Top Stories
US Sen Brownback Pushes Back Against Pentagon On Auto Exemption
Senators Preparing for Final Wall Street Reform Vote This Week
Chevy Dealer Wins in First Disclosed GM Arbitration Case
GM Profit a 'Good, Useful Step' Toward Stock Sale, Liddell Says
Treasury Takes $1.6 Billion Loss on Chrysler Loan
Top Stories
US Sen Brownback Pushes Back Against Pentagon On Auto Exemption

WASHINGTON - U.S. auto dealers' top Senate champion is pushing back against the Pentagon's opposition to an amendment exempting car dealers from new financial oversight. (Read more)
Source: Dow Jones Newswires

Editor's Note: Dealers should specifically point out  that Sen. Brownback recently altered his amendment to promote better coordination between the military liaison to the proposed BCFP (created by the Reed-Brown amendment to S. 3217) and existing regulators to ensure the welfare of U.S. service members is effectively monitored. Call both your senators through the Capitol Hill switchboard immediately at 202-224-3121. More information can be found at www.NADA.org/Brownback.

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Senators Preparing for Final Wall Street Reform Vote This Week

Senate Democrats are moving to vote as early as Wednesday on a sprawling Wall Street overhaul bill amid Republican and industry opposition. (Read more)
Source: The Hill

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Chevy Dealer Wins in First Disclosed GM Arbitration Case

WASHINGTON -- In one of the first arbitration decisions involving General Motors Co., a Michigan Chevrolet dealer won his bid for reinstatement and has been told he will be receiving a letter of intent from the manufacturer. (Read more)
Source: Automotive News

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GM Profit a 'Good, Useful Step' Toward Stock Sale, Liddell Says

General Motors Co. Chief Financial Officer Chris Liddell said the automaker’s $865 million first-quarter net profit is a “good, useful step” on the way to an initial public offering that may come this year. (Read more)
Source: Bloomberg

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Treasury Takes $1.6 Billion Loss on Chrysler Loan

Treasury said Monday that Chrysler repaid $1.9 billion of a $4 billion loan, which was extended before the company filed for Chapter 11. The government hopes to get another $500 million from the company that emerged from bankruptcy, Chrysler Group LLC. (Read more)
Source: The Associated Press

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Quotable
 
"You like to think the Defense Department has bigger things on its mind, like two hot wars going on at the same time, in Iraq and Afghanistan."

    -- Columnist Jim Henry, on claims by the Department of Defense that unscrupulous auto lenders are a threat to combat readiness, BNET, May 17

Video Highlights
 

Car Dealers and Wall Street Reform? (CNN)


Call-to-Action on Brownback Amendment (NADA-TV)


Sen. Brownback Press Conference (NADA-TV)


NADA Chairman Says Dealers Are Not Banks (CBS Evening News) 


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

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