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Wednesday, June 16, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Dealers Renew Lobbying for Financial Bill Exemption
Modest Car-Sale Rebound Shows an Economic Pulse
VW Shrugs Off 2010 Caution After Bumper 5 Months
Chrysler Dealership Wins Arbitration Case
Chrysler Dealership Gets its Groove Back
Proposed Bill Gets Tough on Auto Executives Over Safety
GM Withdraws State-Aid Requests for Opel
Electric-Car Maker Tesla to Seek $178 Million in IPO
Top Stories
Dealers Renew Lobbying for Financial Bill Exemption

WASHINGTON -- Car dealer and consumer groups are redoubling their lobbying this week as House and Senate negotiators prepare to consider an exemption for dealers from oversight by a proposed consumer finance agency. House and Senate negotiators started to meet Thursday, June 10, to try to resolve differences between the bills, using the Senate legislation as a starting point. Democrats have said they want a final bill on President Barack Obama’s desk by July 4. (Read more)
Source: Automotive News

Editor's Note: The latest schedule indicates that a decision by the conference committee on the Brownback/Campbell language is likely early next week. Dealers with a senator or representative on the conference committee should call to voice their support for the language. (Click here for a list of phone and fax numbers of conferees.) For more information, visit www.nada.org/keepcreditaffordable. After contacting the conferee, please send information on their position to legislative@nada.org.

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Modest Car-Sale Rebound Shows an Economic Pulse

This spring's moderately encouraging auto sales do not ensure that unemployment will soon fall from the 10 percent range. But they prove an important proposition: At least part of the economy can lurch forward without Washington's electrodes and superchargers. (Read more)
Source: The Baltimore Sun

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VW Shrugs Off 2010 Caution After Bumper 5 Months

Volkswagen shrugged off previously cautious outlooks for 2010 profit, saying a forecast-beating performance in the first five months meant it would now "significantly" exceed last year's results. (Read more)
Source: Reuters

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Chrysler Dealership Wins Arbitration Case

A Metro Detroit Chrysler-Jeep dealership has the opportunity to be reinstated, following an arbitration decision Tuesday in its favor. (Read more)
Source: The Detroit News

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Chrysler Dealership Gets its Groove Back

BURNT HILLS, N.Y. -- The Chrysler signs should be going back up within 60 days at the Terry Morris dealership on Route 50 in Burnt Hills, (N.Y.), after Charlie Morris, president of Terry Morris Auto Group, won his arbitration case against the auto manufacturer. (Read more)
Source: The Times Union (Albany, N.Y.)

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Proposed Bill Gets Tough on Auto Executives Over Safety

WASHINGTON—Auto executives would face the threat of imprisonment and millions of dollars in civil fines for misleading vehicle-safety regulators under legislation making its way through the U.S. Congress. (Read more)
Source: The Wall Street Journal

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GM Withdraws State-Aid Requests for Opel

General Motors Co.'s European division said Wednesday it has decided to withdraw all applications for state aid in the region and finance the planned turnaround with funds from its parent company. (Read more)
Source: The Wall Street Journal

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Electric-Car Maker Tesla to Seek $178 Million in IPO

Tesla Motors Inc., the maker of electric sports cars that hasn’t posted a profit since its founding in 2003, said it will seek to raise $178 million selling a 12 percent stake in its initial public offering. (Read more)
Source: Bloomberg

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Quotable
 
"Millions of families rely on their hometown auto dealers to obtain financing for cars and trucks at competitive rates. New and unnecessary regulations will put affordable financing at risk."

    -- NADA, in an ad running in Politico, CQ, Roll Call and CongressDaily

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'

 

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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