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Thursday, Oct. 6, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
Ford, GM May Qualify for Higher Credit Ratings
Toyota's Car Production Back at Pre-Tsunami Levels
National Labor Relations Board Delays Posting Requirement Deadline
GM Teams with Car-Share Firm to Let Owners Rent Out Their Cars
Detroit and its Auto Industry Are Starting to Roll Again
Smail Uses Rooftops to Show Support of National Breast Cancer Awareness Month
Click here for NADA's online newsroom at NADAFrontPage.com. .
Top Stories
Ford, GM May Qualify for Higher Credit Ratings

Detroit's biggest carmakers have their labor costs under control thanks to new contracts. Now they're hoping to lower the cost of their debt. Agencies that rate the credit worthiness of companies like Ford and GM are putting investors on notice that the two automakers could get an "upgrade" in debt ratings, potentially lowering their cost for borrowing. Moody's Investors Service said Wednesday that it's reviewing its ratings for Ford Motor Co., after the Dearborn, Mich., automaker reached a deal with the United Auto Workers for a new four-year contract. Moody's is already reviewing its ratings for General Motors Co., after the Detroit-based automaker's workers ratified a similar contract last week.
Source: The Associated Press

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Toyota's Car Production Back at Pre-Tsunami Levels

Toyota's global vehicle production has recovered to pre-tsunami levels as of last month, Japan's top automaker said Thursday. Toyota initially said it didn't expect production to return to normal until late this year. Toyota workers will be racking up overtime and doing extra shifts in coming months to make up for lost production from the disaster, the maker of the Prius hybrid and Camry sedan said.
Source: The Associated Press

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National Labor Relations Board Delays Posting Requirement Deadline

The National Labor Relations Board is postponing until Jan. 31, 2012, the effective date of its rule that requires dealerships to put up a poster explaining worker rights under the National Labor Relations Act. Claiming confusion about which businesses are covered by the rule, the NLRB will use the extra time to contact small- and medium-sized companies. The rule initially was to take effect on Nov. 14. The poster is available for download here. Over the last three weeks, three major employer groups filed federal lawsuits arguing that the poster mandate exceeded the NLRB’s statutory authority. NADA is involved in one of the suits through its membership with the Coalition for a Democratic Workplace. For more information, contact regulatoryaffairs@nada.org or (703) 821-7040.
Source: NADA Regulatory Affairs

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GM Teams with Car-Share Firm to Let Owners Rent Out Their Cars

General Motors Co. is partnering with car-sharing firm RelayRides to let owners rent their GM vehicles to others. The business will launch in early 2012 and allow owners to set their own rates and list availability of their Chevy, Buick, GMC or Cadillac for short-term rentals, the automaker said Wednesday. RelayRides will connect drivers online and provide $1 million in insurance to ensure borrowers are covered while driving the rented car. "We're using technology to make both our older and newest models car-share ready and available for those owners who choose to participate in car sharing," said Stephen Girsky, GM vice chairman. "Our goal is to find ways to broaden our customer reach, reduce traffic congestion in America's largest cities and address urban mobility concerns."
Source: The Detroit News

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Detroit and its Auto Industry Are Starting to Roll Again

For years, this blue-collar city has been synonymous with the ills suffered by the decline of great American cities — crime, poverty and abandonment. These days, people think about Detroit a little differently. "The car companies have stabilized. ... The sports teams are on the rise. We have a long way to go, but there are so many positive signs," says Grammy-nominated recording artist Kem, a native Detroiter. Five years ago, Detroit's General Motors, Ford and Chrysler were headed for perdition. Today, all three are making money, with strong sales in pickups and SUVs in September, and they are going on the offensive with new products.
Source: USA Today

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Smail Uses Rooftops to Show Support of National Breast Cancer Awareness Month

With multiple family members who are survivors or involved in treatment, Smail Auto Group is making clear its support of National Breast Cancer Awareness Month. The group used more than 5,000 square feet of pink vinyl to cover a section of each of the group’s eight franchised rooftops. "As a company, we wanted to do something that would really make a statement and motivate the community to support this vital cause,” stated Jim Smail, who is president of Smail Auto Group ... The pink covered showrooms are only the beginning of the company’s commitment to supporting breast cancer awareness, screenings, research and education. Smail plans to donate $100 for every new and used vehicle sold at their dealerships throughout this month. Donations are to be distributed to the Pittsburgh affiliate of Susan G. Komen for the Cure and Westmoreland Walks’ “Taking Step Against Breast Cancer.”
Source: Auto Remarketing

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More articles

Oct. 5 - Auto Makers Now Import Jobs

Oct. 4 - Chrysler, Nissan, GM Lead Industry to 10% Sales Gain

Oct. 3 - Chrysler Says US Sales Jump 27 Pct in September

Sept. 30 - Toyota-Honda U.S. Rebound Brings Call of 'What Recession?'

Sept. 29 - Browning: VW Brand Now Profitable in U.S.

 
Quotable
"The car companies have stabilized. … The sports teams are on the rise. We have a long way to go, but there are so many positive signs."

   
-- Grammy-nominated recording artist Kem, a native of Detroit, on the blue collar city's resurgence, USA Today, Oct. 5
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Chairman's Column
Economic Fears May be Rising, But New-Car Sales are Still Expected to Rise

Dodd-Frank Law Takes Effect with Implications for F&I Office

Convention News
Five Las Vegas Hotels Sold Out

Registration for the 2012 NADA-ATD Convention & Expo, Feb. 3-6, remains brisk. For the first time, both conventions will be held together. Top hotels in Las Vegas are filling up quickly. Click here to register.
Foundation News
NADA Foundation Ambassador Supports Reading Program in Michigan

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

More Savings from Lenovo

 
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