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September 7, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
Are You Worried About the Health of the Auto Industry? Watch China
GM's Stock Gets Top Ranking
Automakers Aren't Out of the Woods Yet
Romney Lays Out His Economic Plan [at Las Vegas Dealership]
Ford Spends $1B, Plans 7 New Models to Reposition Lincoln
VW Eyes Expansion, Lets Customers Have Their Say
Saab Auto Seeks Protection From Creditors
Malware Alert Beware Emails 'From The FTC'
Chrysler Names Two Directors, Elects Sergio Marchionne Board Chairman
6 Ways Your Car Can Spy on You
Click here for NADA's online newsroom at NADAFrontPage.com. .
Top 10 Stories
Are You Worried About the Health of the Auto Industry? Watch China

There's still a quaint notion around much of America that the only thing that matters in the auto industry revolves around Detroit and the U.S. That was then. This is now. Now the global economy, not just the U.S., is crucial to the economic well being of automakers. And specifically, China is the market to watch.
Source: CNBC

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GM's Stock Gets Top Ranking

General Motors' "fortress balance sheet" philosophy has caught on, earning it first place in Morgan Stanley analysts' automotive stock rankings, far above sixth-place Ford. Post-bankruptcy GM is shunning debt and holding onto cash, saying it will decide what to do with some of its $33.8-billion hoard once the economic environment stabilizes. "GM's castle isn't impenetrable, but its walls are high and thick," [analyst Adam Jonas wrote.]
Source: Detroit Free Press

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Automakers Aren't Out of the Woods Yet

Just when automakers appeared to be gaining some much-needed momentum, they hit another wall. In the U.S. "the jobs just aren't there," says George Magliano, senior auto economist for IHS Automotive. He's not talking about a decimated Detroit, but the current overall U.S. unemployment rate, which hovers over 9%. "People would like to buy new cars, but they're being pushed out of their homes. Economic weakness is leaching into their stock portfolios."
Source: Fortune

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Romney Lays Out His Economic Plan [at Las Vegas Dealership]


Presidential candidate Mitt Romney (left) meets John McCandless, owner of McCandless International Trucks in Las Vegas.

Mitt Romney unveiled his plan to rejuvenate the American economy [at the McCandless International Trucks dealership] Tuesday, offering a detailed outline that includes repealing President Obama’s health care law, cutting the corporate tax rate, placing sanctions on China as a currency manipulator and immediately reducing taxes on savings and investment by the middle class — and promised to push many of these policies on his first day in the Oval Office.
Source: The New York Times

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Ford Spends $1B, Plans 7 New Models to Reposition Lincoln

Dearborn-based Ford has a lot riding on Lincoln's recovery — and not just its $1 billion commitment to the effort. Successful global automakers need a luxury brand for buyers to move up to, or risk losing a high-margin sale to the competition. Think Toyota and Lexus; Chevrolet and Cadillac; Honda and Acura.
Source: The Detroit News

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VW Eyes Expansion, Lets Customers Have Their Say

For many years, Volkswagen AG attracted a small core of loyal customers in North America and didn't seem to care much what anyone else thought of its cars. VW dealer Dietrich Look summed up the automaker's pitch as, "'We bring it, you will like it.' That was the attitude." But now, as Volkswagen seeks to expand in the United States, it's listening intently to American consumers and addressing not only problems but also annoyances.
Source: The Detroit News

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Saab Auto Seeks Protection From Creditors

Saab Automobile, the 64-year-old Swedish carmaker that halted production in June, applied for protection from creditors in a bid to raise money to restart operations and avoid a bankruptcy petition by unions. “A voluntary reorganization process will provide us with the necessary time, protection and stabilization,” Chief Executive Officer Victor Muller said in a statement today.
Source: Bloomberg

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Malware Alert Beware Emails 'From The FTC'

The Federal Trade Commission is warning small businesses that an email with a subject line “URGENT: Pending Consumer Complaint” is not from the FTC. The email says that a complaint has been filed with the agency against their company. The FTC advises not to click on any of the links or attachments with the email. Clicking on the links may install a virus on the computer.
Source: FTC

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Chrysler Names Two Directors, Elects Sergio Marchionne Board Chairman

Chrysler Group LLC, the U.S. automaker majority-owned by Fiat SpA, named two new directors and elected Sergio Marchionne, chief executive officer of both automakers, as Chrysler’s chairman. Marchionne, 59, aims to merge Fiat and Chrysler to reduce costs and generate more than 100 billion euros ($140 billion) in revenue by 2014. He said in May that timing hasn’t been decided, adding that it’s not likely this year. In July, he created a 22-person group executive council, including himself, to run both automakers.
Source: Bloomberg

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6 Ways Your Car Can Spy on You

Toll tags, like E-ZPass, are a quick and easy way to pay tolls. Instead of fumbling with change, you just drive through a toll booth and the payment -- often discounted -- is automatically deducted from your account. Of course, you're also letting someone know where you were at that exact moment and in which direction you were headed.
Source: CNNMoney.com

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More articles

Sept. 6 - Toyota to End Camry Imports from Japan

Sept. 2 - Chrysler, Nissan, GM Lead Industry to 8% Gain

Sept. 1 - Carmakers to Report August Sales

Aug. 31 - Strong Autos Drove July Factory Orders Up 2.4%

Aug. 30 - East Coast Dealerships Relieved, Wary After Hurricane Irene 

 
Quotable
"The reorganization is a move to stabilize the company in this tremendously rocky period."

    -- Victor Muller, chief executive officer for Saab Automobile, which applied for court protection from creditors in a bid to raise money to restart operations and avoid a bankruptcy, Bloomberg, Sept. 7

Videos

 
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NADA U Webinars
-- Sept. 21 at 1 p.m., EDT: “Implementing the Four Essentials to 100% Absorption,” presented by Don Reed, NADA U Partner and CEO, DealerPro Training Solutions

Call 800.557.6232 to learn more and register.

Convention News
Discounted Registration Rates End Sept. 9

Discounted registration rates for the 2012 NADA/ATD Convention & Expo in Las Vegas end at midnight (EDT) Friday, Sept. 9. After that, rates will increase $25 in each registration category. (Children under 18 are free). Hotels are also filling up fast. The Encore at Wynn, the Wynn and Bellagio have already sold out. Register today to take advantage of early registration discounts and to reserve a room at any of the 11 remaining hotels in NADA's block. Convention registration is now open online.

Foundation News
NADA Foundation Program Reaches 500th Ambassador
Marketplace
Seats Available in Five Remaining Academy Classes of 2011

NADA 20 Groups for Fixed Ops Managers Meeting this Fall; Controllers/CFO Groups Now Forming

HP's Small but Mighty PC

Save More Than 50% on Lenovo in September

   
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