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Top Stories
Wall Street Payday for a New GM
So How Big is GM's IPO?
Former Obama Car Czar Steven Rattner Charged in Pay-for-Play Scheme
Senate Votes on Tax-Cut Extensions Likely in December
Volkswagen to Spend $71 Billion to Help Leapfrog Toyota
Hyundai Unveils New Elantra
Toyota Seeks to Dismiss Acceleration Lawsuits
Opinion: Auto Show Electrifies LA
Committed to Community: New Jersey Dealer Honored for Supporting Cancer Survivor Group
Top Stories
Wall Street Payday for a New GM

Some Critics Now See Value of U.S. Bailout; Others Unmoved.

Seventeen months after its old shares were made worthless in bankruptcy court, General Motors Co. made a dramatic return to the stock market following a government-led turnaround that proved far more successful than many had expected. (Read more)
Source: The Wall Street Journal 

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So How Big is GM's IPO?

The answer depends on what you measure. If you measure the value of the common stock, the largest IPO in U.S. history is Visa’s $17.9 billion offering in March 2008. To compare, GM offered 478 million shares of common stock, worth $33 each, for a total of $15.8 billion. Second place. (Read more)
Source: Detroit Free Press

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Former Obama Car Czar Steven Rattner Charged in Pay-for-Play Scheme

State and federal authorities on Thursday charged former Obama administration car czar Steven Rattner with participating in a "pay-for-play" scheme to win business from New York state's pension fund, and sought more than $30 million in penalties. (Read more)
Source: The Washington Post

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Senate Votes on Tax-Cut Extensions Likely in December

Senate Majority Leader Harry Reid, D-Nev., will force votes on dueling proposals to extend the 2001 and 2003 Bush income tax cuts immediately after the Senate returns from its Thanksgiving recess, Reid announced Thursday, a step Senate aides on both sides of the aisle said is most likely to result in defeat of both proposals and further negotiations. (Read more)
Source: National Journal

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Volkswagen to Spend $71 Billion to Help Leapfrog Toyota

Volkswagen AG said it will invest about 51.6 billion euros (nearly $71 billion) in its automotive division in the next five years as it aims to pass Toyota Motor Corp. as the No. 1 global automaker in sales and profitability by 2018. (Read more)
Source: Automotive News

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Hyundai Unveils New Elantra

LOS ANGELES—Hyundai Motor Co. on Thursday took the wraps off a new fuel-efficient compact car in a bid to spur even faster sales in the U.S. market. (Read more)
Source: The Wall Street Journal 

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Toyota Seeks to Dismiss Acceleration Lawsuits

SANTA ANA, Calif. -- A federal judge in California will consider a motion by Toyota Motor Corp. to dismiss lawsuits that claim there are sudden acceleration defects in its cars. (Read more)
Source: The Associated Press

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Opinion: Auto Show Electrifies LA
By Los Angeles Mayor Antonio Villaraigosa

The automotive industry has always been linked to our City's economic health. Oh, and the dealerships employ about 5,200 hard-working Angelenos. But now the auto industry can be linked to our city's sustainability as well. (Read more)
Source: Huffington Post 

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Committed to Community: New Jersey Dealer Honored for Supporting Cancer Survivor Group

GLADSTONE, N.J. – Auto dealer Bill Vince and his wife, Eleanor, were recently recognized for their generous support of sharingVillage’s “Driving for Surviving” program, which enables young survivors of serious illnesses to drive miniature horse and pony drawn carriages and care for the animals in a therapeutic environment. (Read more)
Source: NADAFrontPage.com

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Quotable
 
"Today, one of the toughest tales of the recession took another big step toward becoming a success story."

    -- President Barack Obama, on GM's successful return to the stock market Thursday, which will return up to $13.6 billion to the U.S. government, The Wall Street Journal, Nov. 18

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A Dealer Guide to the Risk-Based Pricing Rule, the latest Driven management guide, is now available exclusively online through NADA University's Resource Toolbox. To download the guide and start preparing your dealership for compliance, sign in or sign up for NADA University, select Resource Toolbox, then "Driven." The guide can be found under "Legal/Regulatory."  


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Do You Have a Social Media Policy in Your Dealership?

Does your dealership staff use social media sites at work or at other times? Have they been provided written guidelines describing what is acceptable when visiting these sites? NADA has developed a sample guideline, Dealership Social Media Use Policy, that outlines acceptable activities for dealership staff. Click here to view the policy.

 
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