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October 19, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
U.S. Judge Signals Likely Approval of VW Diesel Buyback Settlement
Oct. 20 Webinar: Proposed IRS Regulations Seek to Limit Valuation Discounts
New Identity Theft Report Helps You Spot ID Theft
Nissan to Appoint CEO Ghosn as Mitsubishi Motors Chairman
Buick 2016 Sales Top 1 Million Worldwide through September
Top Stories
U.S. Judge Signals Likely Approval of VW Diesel Buyback Settlement

A federal judge in San Francisco on Tuesday said he was "strongly inclined" to approve a record-setting $10.033 billion proposed buyback and compensation offer from Volkswagen AG for 475,000 owners of polluting 2.0-liter diesel vehicles. U.S. District Judge Charles Breyer said he will issue a final decision in the matter, stemming from Volkswagen's use of illegal software to defeat U.S. emissions testing, by Oct. 25. Breyer also on Tuesday granted preliminary approval during the three-hour hearing to a $1.21 billion settlement with VW's U.S. brand dealers.
Source: Reuters

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Oct. 20 Webinar: Proposed IRS Regulations Seek to Limit Valuation Discounts

The IRS in August 2016 issued proposed regulations under IRC section 2704 that are intended to disallow or significantly curtail many valuation discounts used in estate planning.  

As part of the NADA/ATD Webinar Series, Marvin Hills and Stuart McCallum from Crowe Horwath, LLP, will present the 60-minute webinar, "Proposed IRS Regulations Seek to Limit Valuation Discounts," at 1 p.m. ET on Thursday, Oct. 20, 2016.  

They will discuss the impact of the new regulations on valuation reports and on intra-family transfers of dealership stock, as well as explore actions to consider (with assistance from legal advisors) to take full advantage of discounts available under the current law and estate planning strategies available after the regulations take effect. Click here to register.
Source: NADA

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New Identity Theft Report Helps You Spot ID Theft

Do you ever hear from customers or employees who want you to know that they’ve been affected by identity theft? If so, you’ll probably start seeing them use the new FTC Identity Theft Report. It tells you that someone important to your business is a crime victim, has alerted law enforcement, and is working to resolve the financial and emotional disruption that identity theft causes.

The new Identity Theft Report is a product of IdentityTheft.gov, the one-stop resource for people to report identity theft to law enforcement and get a personal recovery plan that responds to their specific identity theft circumstances. The FTC has updated the website to produce the new Report, along with customized letters for people to use to let you know they are victims and that your business records may contain fraudulent information about them.
Source: FTC

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Nissan to Appoint CEO Ghosn as Mitsubishi Motors Chairman

Nissan Motor Co. Ltd Chief Executive Carlos Ghosn will chair Mitsubishi Motors Corp. after Japan's second-biggest automaker by sales buys control of its smaller peer, two people with knowledge of the matter told Reuters on Wednesday. Ghosn, nicknamed "le cost killer", will oversee an automaker expecting an operating loss of $270.69 million in the year to March. Behind the loss are provisions to cover any quality-related issues that arise while Mitsubishi recovers from a mileage-cheating scandal that sent its shares spiralling.
Source: Reuters

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Buick 2016 Sales Top 1 Million Worldwide through September

General Motors Co sold more than 1 million Buick brand vehicles globally this year through September, as the near-luxury brand shifts focus away from large sedans with an older U.S. buyer base toward SUVs and sales that are overwhelmingly dominated by China, GM said Tuesday. Buick sold 1,046,746 vehicles worldwide through the end of September, a 23-percent increase over the same period in 2015. The Buick Envision, a small SUV, saw global sales of more than 200,000 during the nine-month period.
Source: Reuters

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Past Articles
       
      Quotable
      "There is an urgency as I've expressed to bring this matter to conclusion. Cars are on the road out of compliance of environmental regulations, and it is imperative that this matter be addressed immediately."

          -- Judge Charles Breyer of the U.S. District Court in San Francisco, who will likely give final approval for a nearly $15 billion U.S. settlement over the Volkswagen Group emissions scandal, USA Today, Oct. 18

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