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Top Stories
House Passes Financial Overhaul; Senate Leaders Postpone Vote
J.D. Power: June Retail Sales Struggles Worsen; NADA Maintains Optimism
Opinion: Detroit 3 Grind Their Way Back to Success
Ford to Repay $4B More in Debt
Toyota Prepares To Fix Engine Problem For 270,000 Vehicles
GM to Expand Volt's Launch to New York, Austin
Jobless Claims in U.S. Increased Last Week to 472,000
Top Stories
House Passes Financial Overhaul; Senate Leaders Postpone Vote

The House approved new financial regulations Wednesday, but Senate leaders postponed a vote on the bill, preventing the landmark legislation from reaching President Obama's desk until at least mid-July. The bill hit an unexpected speed bump Tuesday when a handful of centrist Senate Republicans, whose votes Democrats need to overcome procedural roadblocks, balked at a $19 billion bank fee added late in the conference committee negotiations to offset the bill's cost. Sen. Scott Brown (Mass.), one of four Republicans who voted for the Senate's earlier version of the overhaul last month, withdrew his support because of the provision. (Read more)
Source: The Washington Post

Editor's Note: When conferees reopened the conference report, there was no attempt to modify the Brownback/Campbell auto dealer language. This maintains effective consumer protections while preserving dealer-assisted financing and providing more competition for car buyers. The Senate is still expected to pass the conference report the week of July 12. The president has indicated that he will sign the bill into law upon Senate passage.

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J.D. Power: June Retail Sales Struggles Worsen; NADA Maintains Optimism

WESTLAKE VILLAGE, Calif. and McLEAN, Va. — Despite the worsening forecast from J.D. Power, Paul Taylor, chief economist for the National Automobile Dealers Association, attempted to find positive attributes about the current economic state and how it relates to new-vehicle sales. (Read more)
Source: AutoRemarketing

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Opinion: Detroit 3 Grind Their Way Back to Success

As fretting intensifies over prospects for the global economy, consumer confidence, clumsy policy-making and a potential double-dip recession -- see the gyrations of equity markets just this week -- the Motor City's given-up-for-dead automakers are showing encouraging signs of sustainable life. (Read more)
Source: The Detroit News

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Ford to Repay $4B More in Debt

DETROIT — Ford Motor, the only Detroit automaker to avoid bankruptcy protection, said Wednesday it will reduce its huge debt by another $4 billion as it continues to show signs of financial strength. (Read more)
Source: The Associated Press

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Toyota Prepares To Fix Engine Problem For 270,000 Vehicles

TOKYO -- As Toyota Motor Corp. strives to improve operations to cope with quality concerns, the car maker said Thursday that it is preparing to recall 270,000 luxury vehicles worldwide, including some of its flagship Lexus LS sedans, to repair an engine problem. (Read more)
Source: Dow Jones Newswires

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GM to Expand Volt's Launch to New York, Austin

DETROIT—General Motors Co. is expanding the launch of its Chevrolet Volt battery-powered car to customers in the New York region and in Austin, Texas, the city where Chairman and Chief Executive Edward E. Whitacre Jr. will announce the company's plans (today), people familiar with the plan said. (Read more)
Source: The Wall Street Journal

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Jobless Claims in U.S. Increased Last Week to 472,000

More Americans unexpectedly applied for jobless benefits last week, a sign the labor market recovery may be slowing. (Read more)
Source: Bloomberg

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Quotable
 
"As controversial as the Detroit bailouts have been, are and will be, the mounting evidence suggests these companies possessed economic value worth saving."

    -- Columnist Daniel Howes, in an opinion on the Detroit automakers and their "grind back to success," The Detroit News, July 1

Video Highlights
 

Charitable Foundation's Mallon on Dealers Giving Back (Comcast Newsmakers)
NADA Marketplace
 

NADA University: 'We Build Champions'


 
NADA University Expands On-Site Seminars to West Coast; Announces Updated Webinar Schedule

NADA University, the new comprehensive education and training resource for dealers and their staffs, has expanded its on-site seminars to the West Coast, and has announced its schedule of training webinars for the second half of 2010. The new West Coast home for NADA University’s on-site seminars is Cerritos College in Long Beach, Calif. The recently opened Automotive Partners Building, a state-of-the-art, 10,000 sq. ft. training facility, was funded in part by the Southland Motor Car Dealers Association and Greater Los Angeles New Car Dealers Association. (Read more)


 

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).


Hot Summer and Hot Savings from Lenovo

The ThinkPad Edge 14" laptop with Intel processor reduced from $984 is now only $591.89 using eCoupon USXSUMMERSAVINGS. NADA Members and their staff can also save an additional 5 percent off the award-winning ThinkPad T410, the Thin and light ThinkPad X201 and the New ThinkPad Edge 14. This offer ends July 31. 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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