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August 30, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Baton Rouge Dealer Says 70 of His Employees Suffered 'Catastrophic Losses' from Flooding
U.S. Congressional Leaders Ask for More Time to Study New Fuel Rules
New HazCom Guide for Dealers Available
Proposed Regulations Would Limit Valuation Discounts For Gift and Estate Taxes
Volvo Cars Says to Hire 400 Engineers to Spearhead High-Tech Push
FTC Issues Warning to Sellers of Certain VW Vehicles
12 Hotels Sold Out; $100 Registration Discount Ends Sept. 9
Top Stories
Baton Rouge Dealer Says 70 of His Employees Suffered 'Catastrophic Losses' from Flooding

Donate today at www.nada.org/EmergencyRelief

BATON ROUGE, La. – Preston Petersen, dealer partner and general manager of Team Automotive Group in Baton Rouge, La., said 70 out of his 360 dealership employees lost their homes and cars from the recent flooding in southern Louisiana.

“While every employee has been negatively impacted by the flooding, about 70 are dealing with catastrophic losses,” Petersen said. “Water in excess of four feet in their homes, total home losses with no flood insurance, some with no place to live and no car to drive. The stories of loss are simply overwhelming and they go on and on.”


Preston Petersen, dealer partner and general manager of Team Automotive Group in Baton Rouge, La., says his dealership and employees are rebuilding after the devastating flood.


More than 140,000 families were displaced in the flooding, and 1,500 dealership families were forced to evacuate, according to early estimates.

He added that damage to his Toyota dealership has yet to be fully determined, but estimates repairs will cost several million dollars. The dealership, which completed Toyota’s Image II upgrade last fall, was completely gutted.

“On a brighter note, our employees have rallied beyond belief to help get the dealership cleaned up in less than a week,” Petersen added. “We are currently operating out of our used car building that took less of a hit and have our express shop and service and parts departments fully functioning at this point.”

In an NADA video released last week, Peter Welch, president of the National Automobile Dealers Association, walked through the flood-ravaged areas of Baton Rouge describing the damage to homes. NADA is urging dealers across the country to make a donation of $1,000 to the National Automobile Dealers Charitable Foundation’s Emergency Relief Fund.

“Now that the flood waters have receded and the damage assessed, the requests for financial assistance are growing each day,” Welch said.

Petersen added that the flooding disaster has presented overwhelming challenges every minute of the hour. “All we can do is put one foot in front of the other and move forward every day,” Petersen added. “We appreciate all the support being offered. You never know when it could happen to you.”

To apply for assistance or to contribute to the fund, visit www.nada.org/emergencyrelief or call 703.821.7102. Personal or corporate checks can be made payable to NADCF Emergency Fund, c/o NADCF, 8400 Westpark Drive, MS 7, Tysons, VA 22102. (Donations to the NADA Foundation are generally tax-deductible; contributors should consult their tax advisors for details.)
Source: NADA Foundation

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U.S. Congressional Leaders Ask for More Time to Study New Fuel Rules

Three Congressional leaders on Monday asked top federal environmental and safety officials to extend by 60 days the public comment period on new vehicle emissions and fuel economy standards. The public and their advocates need more time, beyond the comment period that ends Sept. 26, to absorb more than 1,000 pages of a draft technical assessment report, the three said in a letter to the environmental and safety chiefs.

The letter dated Monday was sent to EPA Administrator Gina McCarthy and National Highway Traffic Safety Administration Administrator Mark Rosekind. It was signed by three members of the U.S. House of Representatives: Fred Upton, chairman of the Committee on Energy and Commerce; Ed Whitfield, chairman of the Subcommittee on Energy and Power; and Michael Burgess, chairman of the Subcommittee on Commerce, Manufacturing and Trade.
Source: Reuters

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New HazCom Guide for Dealers Available

A Dealer Guide to the Updated OSHA HazCom Standard (L22) is now available at no charge to NADA and ATD members at NADA University Online. This new Driven guide explains compliance with the Occupational Safety and Health Administration (OSHA) Hazard Communication (HazCom) Standard, which requires employers, including dealerships, to provide chemical hazard information to employees potentially exposed to such hazards in order to protect them from chemical-related injuries or illnesses. In most dealerships, the standard covers service, parts, body shop and detail personnel.
 
The rule requires dealerships to inventory their hazardous chemicals; implement written HazCom programs; obtain, file and maintain accessibility to Safety Data Sheets (SDSs) for each chemical in the workplace; and train employees on the safe handling of hazardous chemicals. The guide discusses the purpose, scope and application of the standard, including labels and other forms of warning, enforcement and resources for compliance assistance.
 
NADA members have complimentary access to the HazCom guide here. Non-members can purchase the guide by calling NADA Customer Service at 800.557.6232.
Source: NADA

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Proposed Regulations Would Limit Valuation Discounts For Gift and Estate Taxes

The IRS has issued proposed regulations that are intended to disallow or significantly curtail many valuation discounts.  These discounts are one of the most effective methods used by dealers in estate planning.  Dealers who are considering making gifts of family owned dealership or related business entities that would be eligible for valuation discounts should consult with their tax advisor about whether to act quickly to make those transfers prior to the regulations being finalized.  Crowe Horwath LLP has created a brief summary of this development.
Source: NADA Regulatory Affairs

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Volvo Cars Says to Hire 400 Engineers to Spearhead High-Tech Push

Chinese-owned Volvo Car Group said on Tuesday it would recruit about 400 new engineers over the coming year to bolster development efforts in safety technology, autonomous driving and electrification. The recruitment drive, which Volvo said was one of its largest ever, comes as the manufacturer is enjoying brisk sales of a fleet of new, up-market models as it looks to solidify its position in a premium car market dominated by larger rivals. Volvo, bought by China's Zhejiang Geely Holding Group Co. from Ford Motor Co. in 2010, said in a statement most of the engineers joining the company would be based at its research and development centre in Gothenburg, in western Sweden.
Source: Reuters

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FTC Webinar: September 8
FTC Issues Warning to Sellers of Certain VW Vehicles

The Federal Trade Commission (FTC) has asked NADA to provide its members with a business blog that cautions sellers of certain VW and Audi diesel vehicles (including dealers of other brands) not to make false claims regarding the recent proposed consent orders concerning those vehicles that the Volkswagen Group of America has entered into with the FTC, other governmental agencies, and owners and lessees of the vehicles.  Details of the proposed settlements are available at VWCourtSettlement.com.  In order to enhance dealers’ understanding of both the VW buyback program that is part of the proposed settlement and the concerns set forth by the FTC in its business blog, NADA has arranged for the FTC to present information on these topics in an NADA University Online webinar that will take place on Thursday, Sept. 8, 2016 from 1 p.m. – 2 p.m. ET.  Dealers and their representatives may click here to register.
Source: NADA

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2017 NADA Convention & Expo
12 Hotels Sold Out; $100 Registration Discount Ends Sept. 9

The discounted registration rate for NADA members and managers includes admission to NADA 100 Carnival.

NADA members and managers who register for the 2017 NADA Convention and Expo in New Orleans by September 9 will receive a $100 discount.



NADA, founded in 1917, will kick off yearlong events commemorating its 100-year anniversary with NADA 100 Carnival in New Orleans. The exclusive event for NADA members, international affiliates and guests will be held at Mardi Gras World on Thursday, January 26. The Carnival will feature cuisine from top New Orleans restaurants, as well as musical entertainment from Foreigner, Cowboy Mouth and jazz favorites. The NADA member and manager registration fee includes admission to the NADA 100 Carnival.

The four-day NADA Convention, which runs from January 26 to 29, includes keynote speakers, dealer franchise meetings, workshops, an Expo and numerous networking events. Click here to register.
Source: NADA

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Past Articles
       
      Quotable
      "While every employee has been negatively impacted by the flooding, about 70 are dealing with catastrophic losses. Water in excess of four feet in their homes, total home losses with no flood insurance, some with no place to live and no car to drive. The stories of loss are simply overwhelming and they go on and on."

          -- Preston Petersen, dealer partner and general manager of Team Automotive Group in Baton Rouge, La., NADA Headlines, August 30

      Sponsored by

      NADA Foundation


      NADA Convention
      Videos

      Donate Today. Help Dealership Families Impacted by Louisiana Flooding


      NADA100 Video: Don Wassel Works in Auto Retailing for 53 Years


      Introducing NADA Academy Plus
      NADA Webinars
      Sept. 8: FTC Issues Warning to Sellers of Certain VW Vehicles

      All webinars are held at 1 p.m. ET unless otherwise noted.

      NADA members can view past webinars on-demand at no charge at NADA University Online. Members must create an NADA account before viewing.

       
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