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Top Stories
Small Players Best Wall St. in Shaping Overhaul Bill
House Names Conferees for Financial Reform Bill Negotiations
Senate Panel Sends Auto Safety Bill to Floor for Vote
Autos Need Feature to Cut Pedal Risk, Test Chief Says
GOP Challenges Obama on Climate
Saving Chevrolet Means Sending 'Chevy' to Dump
Committed to Community: College Christens New Auto Building
Top Stories
Small Players Best Wall St. in Shaping Overhaul Bill

On Thursday, lawmakers will begin the process of reconciling the versions of the bill passed by the House and Senate. Community bankers, auto dealers and other Main Street businesses have won exemptions from proposed new regulations by repeating a mantra not available to big Wall Street firms: We didn't cause the crisis. "The major influence has been legitimate grass-roots networks -- credit unions, auto dealers," said Rep. Barney Frank (D-Mass.). "They are the kinds of operations that have members in every district. People who get sponsored by big institutions have had very little impact." Auto dealers made headway by launching a grass-roots campaign to call members of Congress from every state and plead for their own exception from oversight by the new consumer regulator. The House granted their request, despite opposition from the Obama administration. The Senate version, however, does not exempt auto dealers from new consumer rules, leaving the conference to reconcile the matter. (Read more)
Source: The Washington Post

Editor's Note: Dealers and dealership employees must remind conferees that the Senate voted 60-30 to preserve dealer-assisted financing and that the Brownback/Campbell language is consistent with the goals of reforming Wall Street and preventing another credit meltdown. The pro-consumer language retains the sound regulatory structure that currently oversees auto finance at dealerships. This same structure has allowed millions of families to make a vehicle purchase at competitive interest rates to meet their transportation needs. Click here for additional key points demonstrating how the Brownback/Campbell language is consistent with the purpose of Wall Street reform legislation. For the finalized list of conferees and their telephone numbers, visit www.NADA.org/KeepCreditAffordable. Report any updates on a conferee's position on this issue to NADA Legislative Affairs at 800-563-1556.

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House Names Conferees for Financial Reform Bill Negotiations

House leaders announced their conferees for the House-Senate conference to work out final details on a financial regulatory reform bill set to begin Thursday afternoon. (Read more)
Source: The Hill

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Senate Panel Sends Auto Safety Bill to Floor for Vote

WASHINGTON -- The Senate Commerce Committee voted (Wednesday) to pass a far-reaching vehicle safety bill that has largely won both automaker and consumer support, sending the measure to the full Senate. (Read more)
Source: Automotive News

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Autos Need Feature to Cut Pedal Risk, Test Chief Says

U.S. autos should be required to have technology to stop sudden acceleration, reducing the risks that floor mats trap pedals and send a car careening, Consumer Reports’ auto testing chief said. (Read more)
Source: Bloomberg

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GOP Challenges Obama on Climate

The president's push to combat climate change without waiting for Congress faces a vote of confidence Thursday when the U.S. Senate debates Alaska Sen. Lisa Murkowski's proposal to block the administration from curbing greenhouse-gas emissions using its power under the Clean Air Act. (Read more)
Source: The Wall Street Journal

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Saving Chevrolet Means Sending 'Chevy' to Dump

Bye-bye, indeed, Miss American Pie. If General Motors has its way, you won’t be driving your Chevy to the levee ever again. (Read more)
Source: The New York Times

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Committed to Community: College Christens New Auto Building

NORWALK – Cerritos College hosted a dedication ceremony May 21 for its newly-completed Automotive Partners Building. More than 300 people including college officials, community members, auto manufacturers, dealers, industry partners, dignitaries, faculty, staff and students marked the occasion with an unveiling of commemorative plaques and a ribbon-cutting. (Read more)
Source: The Downey Patriot (Downey, Calif.)

Editor's note: If you have a story about involvement in your community, send it to publicaffairs@nada.org.

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Quotable
 
"The major influence has been legitimate grass-roots networks -- credit unions, auto dealers. They are the kinds of operations that have members in every district. People who get sponsored by big institutions have had very little impact."

    -- Rep. Barney Frank, D-Mass., on why community bankers, auto dealers and other Main Street businesses have succeeded in winning exemptions from far-reaching new financial rules, The Washington Post, June 10

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'
Need Help Understanding Social Media?

The NADA Information Technology Committee wants to help dealers learn what social media sites can do for them. The committee suggests dealers review any of the many publications available on nada.org.  One document from Adam Boalt titled, “Social Media Best Practices for Automotive Dealers” explains how social media sites function and what they might accomplish for a dealership. Dealers could also gain insight on the topic by reading “Six Ways to Get Business Value from Social Software” from socialtext.com. Links to both articles are at www.nada.org/Technology.


 

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. To see this promotion and all discounted products from HP, visit NADA's PC Purchase Program site (member log in required).


Save up to $700 with Lenovo

Lenovo is offering up to $700 off select PCs with its June promotion. Just use eCoupon USXDADSGRADS at checkout. To see this promotion and all discounted products from Lenovo, visit NADA's PC Purchase Program site (member log in required).


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