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Top Stories
Crunch Time for Auto Dealer Lobbying Firms
Opinion: Congress Must Leave Dealers Out of the Finance Fix
Chrysler's Genesis Plan Sways Arbitrators
Opinion: The Lessons of the GM Bankruptcy
Dealers Got Lean; Many Plan to Stay Lean
Pickup Sales Lag Overall Auto Market
Mercury Lineup Could Begin Dwindling Away Soon
Important Health Care Tax Credit Info for Small Businesses
Top Stories
Crunch Time for Auto Dealer Lobbying Firms

Auto dealers are facing the toughest fight yet in their effort to win an exemption from new financial regulations. A small group of House and Senate lawmakers are headed into a month-long conference to finalize the legislation and send it to President Barack Obama before the July Fourth recess. The lawmakers making up the conference have not all been named yet, but Democrats in the House and Senate slated to take part in the negotiations are overwhelmingly opposed to the exemption. And the White House is expected to ratchet up its already vocal campaign against the carve-out.  (Read more)
Source: The Hill

Editor's Note: With Congress home until June 6 for the Memorial Day recess, NADA is encouraging dealers to make a strong effort to meet in person with their Representative and Senators to ask them to urge their colleagues on the conference committee to retain the auto dealer language in the final Wall Street reform bill. (Click here for a list of conferees.) Dealers should explain that the Brownback/Campbell auto dealer language is pro-consumer and keeps auto credit affordable and accessible. Dealer-assisted financing is already effectively regulated and had nothing to do with the financial crisis. For more information visit: www.NADA.org/KeepCreditAffordable.

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Opinion: Congress Must Leave Dealers Out of the Finance Fix

Car dealers must be exempt from the new level of needless bureaucratic oversight that could be mandated by the sweeping financial overhaul bill. Our leaders must understand that dealers do not make loans; they only arrange them for their customers. (Read more)
Source: Automotive News

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Chrysler's Genesis Plan Sways Arbitrators

Chrysler's Genesis plan for consolidating all its brands in each dealership has swayed most arbitrators, while GM's cost-cutting rationale for eliminating dealerships has developed little traction. (Read more)
Source: Automotive News

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Opinion: The Lessons of the GM Bankruptcy
By Paul Ingrassia

Today is the first anniversary of one of this country's less-than-crowning milestones: the bankruptcy of General Motors, once the largest and richest company in the country, and indeed the world. For all that money we, as a country, should take away some lessons from the experience. (Read more)
Source: The Wall Street Journal

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Dealers Got Lean; Many Plan to Stay Lean

Suspending all advertising for a year. Cutting your salary to zero for as long as 18 months. Those are some of the things that dealers who answered an Automotive News online survey said they did to survive the great recession of the past two years. (Read more)
Source: Automotive News

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Pickup Sales Lag Overall Auto Market

There's a good chance pickup sales will go up, again, for May, led by Ford Motor's F-Series trucks. But don't read too much into that, says George Pipas, manager of sales analysis for Ford. (Read more)
Source: USA TODAY

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Mercury Lineup Could Begin Dwindling Away Soon

DETROIT -- Ford Motor Co. plans to kill the 71-year-old Mercury brand slowly by starving it of product, two sources tell Automotive News. (Read more)
Source: Automotive News

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Important Health Care Tax Credit Info for Small Businesses

Administrator Karen Mills of the U.S. Small Business Administration has written an open letter to small business owners across the United States explaining immediate benefits available to small businesses as part of the Affordable Care Act. (Read more)
Source: Small Business Administration

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Quotable
 
"The auto industry, including dealers, was staggered by the financial meltdown and the resulting constriction of credit. Now, as the industry struggles to get back on its feet, the last thing anyone needs is an ill-conceived stumbling block."

    -- Automotive News, in an editorial on how dealers must be exempt from the financial overhaul bill, May 31

Video Highlights
 

Senate: Exempt Dealers from Wall Street Reform Bill (NADA-TV)


Sen. Brownback at May 19 News Conference (NADA-TV)


Car Dealers and Wall Street Reform? (CNN)


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


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

NADA Marketplace
 

NADA University: 'We Build Champions'


FTC Extends Enforcement Deadline for Identity Theft 'Red Flags' Rule through Dec. 31, 2010

At the request of several Members of Congress, the Federal Trade Commission (FTC) is further delaying enforcement of the "Red Flags" Rule through Dec. 31, 2010, while Congress considers legislation that would affect the scope of entities covered by the rule. Keep in mind, the FTC has indicated that if Congress passes legislation limiting the scope of the "Red Flags" Rule with an effective date earlier than Dec. 31, 2010, the FTC will begin enforcement as of that effective date. Click here for more details.


 

Savings from HP on a ProBook 4425s Notebook

NADA members can buy HP’s ProBook 4425s notebook for only $619. Add a 20” LCD Monitor and space-saving stand for a total of $972. This highly mobile notebook has a spill-resistant keyboard and wireless connectivity option for everyday use in or out of the office. 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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