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Inside this issue
NADA Convention 2014: Dealer Registration and Housing for New Orleans Now Open
Judge With Ties to Auto Industry Bankruptcies to Oversee Detroit Case
3-Year GM Blitz Plots Path of Profit Through Product
Dealers Open Financial Books to Top Staff
NAIAS Boss: Detroit Bankruptcy Won't Affect Auto Show
Opinion: The Auto Industry Has Great Appeal
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA Convention 2014: Dealer Registration and Housing for New Orleans Now Open

Dealers and managers who register by Sept. 13 will receive a $100 discount off the onsite registration rate

The city of New Orleans, which has recently invested billions of dollars in major restoration projects, is hosting the 97th annual NADA Convention & Expo next January. It will be the 10th time the convention has been held in the Big Easy since 1973. “New Orleans looks better than it ever has,” said Desmond Roberts, chairman of NADA's convention committee. “The city has been through a lot, but it too has rebounded and thrived just like the auto industry. It's fitting to be in a city as tough and determined as our industry.” The Ernest N. Morial Convention Center was renovated this year. There's been a 55 percent increase in the number of restaurants over the past seven years, nearly $800 million in hotel upgrades and $77 million in street improvements, including a new streetcar line connecting the Sports District to the Central Business District and French Quarter.

“The city has a festive atmosphere you can't find anywhere else—from the amazing Creole cuisine and culture to the historic sites and music,” added Roberts, a Chevrolet dealer in Hodgkins, Ill. “The most popular hotels will fill up quickly, so we're encouraging attendees to register early.” The NADA convention runs from Friday, Jan. 24 to Monday, Jan. 27. Online registration and housing is now open. Dealers and their managers who register by Sept. 13 will receive a $100 discount off the onsite registration rate. For more information or to register, visit www.nadaconvention.org.
Source: NADAFrontPage.com
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Judge With Ties to Auto Industry Bankruptcies to Oversee Detroit Case

Detroit's bankruptcy, the largest municipal collapse in U.S. history, will be overseen by a 28-year veteran of the bench and writer on Ponzi-scheme law who's taking on the biggest case of his career. U.S. Bankruptcy Judge Steven W. Rhodes, 64, was assigned the case by Alice Batchelder, the chief judge for the U.S. Court of Appeals in Cincinnati, following recommendations by lower-court judges in Detroit, according to a court order filed Friday. "It is our unanimous and very strong belief that Honorable Steven W. Rhodes is the bankruptcy judge best qualified to preside over the city of Detroit Chapter 9 case," Phillip Shefferly, chief of the U.S. Bankruptcy Court in Detroit, wrote in a letter filed with the court. Detroit filed the biggest U.S. municipal bankruptcy on July 18, a move the city's emergency manager, Kevyn Orr, said was the only way to deal with a debt load of $18 billion. The city's bid for a turnaround is now in the judge's hands.
Source: Bloomberg
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3-Year GM Blitz Plots Path of Profit Through Product

General Motors' product playbook over the next three years reflects an automaker that has moved past hard times and aspires to claw back market share and improve profits with a broader, deeper lineup. Through 2016, GM will overhaul its U.S. product line with new and redesigned vehicles at the fastest rate in the industry, tied with Ford Motor Co., according to an industry forecast from Bank of America Merrill Lynch. On average, GM will replace 24 percent of its sales volume each year with fresh models, more than double its average over the past two decades.
Source: Automotive News
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Dealers Open Financial Books to Top Staff

Experts: Share data, increase accountability

In April 2008, department managers at McGeorge Toyota-Scion near Richmond, Va., saw the store's financial data for the first time, and for a specific reason. "There were hundreds of millions of dollars of sales, but there was no expense consciousness in the store and we were losing a lot of money," says Bob Farlow, then the dealership's new general manager. He had persuaded dealer Rod McGeorge to share the accounting details. During and after the recession, many dealers began routinely sharing financial data with lower-level managers -- a sharp change from the prerecession practice of keeping that information close to the vest, consultants say. The Thompson Organization, a Doylestown, Pa., dealership group that sells six brands under four rooftops, shares detailed financials with its managers, Vice President Laura Barnes says. The group shared general financial information with its managers for 35 years. But in January 2011, Barnes started using National Automobile Dealers Association 20 Group financial composites. "The composite shows them how much their productive and nonproductive employees are costing them and how much they need to cut to make it a stronger department, and how much they need to improve to compare to other competing dealerships," Barnes says. Barnes says more dealers should be transparent with managers. "The most successful dealers empower people," she says. "You must trust them."
Source: Automotive News
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NAIAS Boss: Detroit Bankruptcy Won't Affect Auto Show

Detroit Metro Convention and Visitors Bureau President and CEO Larry Alexander said Friday he's received quite a few calls from concerned conventioneers over the city's bankruptcy filing. The North American International Auto Show is not one of them. The city's signature car show, set for Jan. 13-26, will go on despite Detroit's Chapter 9 bankruptcy filing. Rod Alberts, executive director of NAIAS, promised the show will stay in Detroit in a statement released Friday afternoon: “The Detroit Chapter 9 bankruptcy has been anticipated for some time and will have no impact on the North American International Auto Show (NAIAS). It was a good decision, given the state of affairs of the city over the past decade, and will give Detroit an opportunity to move forward by relieving the city of a legacy of liabilities — giving it a fresh start. That was the sole purpose. The direction by Detroit Mayor Dave Bing and Michigan Gov. Rick Snyder is the right one, and will help Detroit turn the corner."
Source: The Detroit News
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Opinion: The Auto Industry Has Great Appeal
By Keith Crain

Make no mistake: The automobile business is a magnet for many people who love cars or are interested in working in the largest and most important industry in the world. Last week, Automotive News published its second list of 40 Under 40 auto dealership owners and managers. It was a list of young retailers who decided that this industry can make for a great career. Next year, we'll also be looking for 40 Under 40 at automakers and suppliers. No other industry and few careers offer the opportunities afforded by the auto industry, particularly the retail sector. Where else can you get a job, with or without a degree, and within a few decades own a couple of stores and be making a six-figure income? One of the big advantages of the retail business is the liberal availability of credit. There are billions of dollars to loan, and the retail business is a place for entrepreneurs to thrive with almost unlimited access to capital. Sure, you can have a great job working for an automaker or supplier. But the retail side is the place for entrepreneurs. The retail business is the lifeline of the automobile industry, and it's a great place to start a career.
Source: Automotive News
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More Articles
 
Quotable
"There is nothing like the car business."

    --  Keith Crain in an opinion in Automotive News discussing the appeal of working in the automotive industry, July 22



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