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Inside this issue
April 6 Webinar: FTC Update on Court-Ordered Buyback of Certain VW and Audi Vehicles
President Overturns Obama Administrationís OSHA Regulation
April 5 Press Briefing: NADA to Discuss Auto Sales and Economic Trends
IRS Notice 2016-66: Potential Pitfall for Dealerships in Captive or Reinsurance Programs
Fuel Economy, Autonomous-Drive Ideas Win Big at PACE 2017
Top Stories
April 6 Webinar: FTC Update on Court-Ordered Buyback of Certain VW and Audi Vehicles

The Federal Trade Commission (FTC) will provide NADA members with an update regarding the Volkswagen and Audi diesel buyback provisions, including new developments since the September 2016 NADA and FTC webinar.

Date:  Thursday, April 6, 2017
Time:
  12 p.m. ET
Presented by:
  Jonathan Cohen and Sangioon "Simon" Han, FTC
Duration:
  60 minutes

The webinar will cover ongoing issues affecting dealers and consumers, and what to expect over the coming months. Details of the now-final 2.0-liter diesel settlement and the proposed 3.0-liter diesel settlement are available at VWCourtSettlement.com. The webinar is open to dealers and their representatives. Click here to register.
Source: NADA and FTC

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President Overturns Obama Administrationís OSHA Regulation

On April 3, President Trump signed H. J. Res. 83, a Congressional Review Act (CRA) joint resolution of disapproval, to invalidate the Obama administration’s OSHA regulation regarding the statute of limitations for recordkeeping violations. 

The resolution reversed OSHA's aggressive enforcement position that the agency may cite employers for up to five years after an alleged injury or illness recordkeeping violation occurred. This new position was an attempt by OSHA to make an end-run around at least one federal court ruling that such citations could not be issued beyond the six-month statute of limitations for workplace injury and illness recordkeeping violations set out in the OSH Act.

Under the CRA, Congress may pass a resolution of disapproval to prohibit a federal agency from implementing a rule with a majority vote in both houses.

NADA opposed the Obama administration proposal through comments submitted by a coalition of business groups. The rule is now overturned and future administrations are prohibited from promulgating a similar rule. NADA supported H. J. Res 83 and signed a letter to the Hill in support of the measure. 
Source: NADA

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April 5 Press Briefing: NADA to Discuss Auto Sales and Economic Trends

At an industry briefing via conference call, NADA Chief Economist Steven Szakaly and NADA Chairman Mark Scarpelli will share their insights on the overall economy, where it’s trending and provide any revisions to NADA’s sales forecast for new cars and light trucks following the first quarter, as well as highlight the key sales indicators and drivers of the retail-auto industry.

When: Wednesday, April 5, 2017
Call-in Time: 11 a.m. ET

Scarpelli is president of Raymond Chevrolet and Raymond Kia in Antioch, Ill., and co-owner of Ray Chevrolet and Ray Chrysler-Jeep-Dodge-Ram in Fox Lake, Ill.

A Q&A session with members of the media and industry will follow the briefing. Click here to register.
Source: NADA

Related article:


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IRS Notice 2016-66: Potential Pitfall for Dealerships in Captive or Reinsurance Programs
By Andy Weill

The Internal Revenue Service has been quite active with regard to perceived abuses in the area of microcaptive insurance. In particular, the IRS promulgated Notice 2016-66 in November 2016, designating certain microcaptive transactions to be “transactions of interest,” mandating certain reporting requirements. Counsel who know that their clients participate in captive or reinsurance programs should be mindful of this new development and advise clients accordingly. Click here for the full article.

Andy Weill is a principal with Weill & Mazer, a leading complex litigation firm in San Francisco. Weill’s practice includes complex business, tax and estate disputes across the nation.
Source: National Association of Dealer Counsel (NADC) Defender

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Fuel Economy, Autonomous-Drive Ideas Win Big at PACE 2017

Supplier breakthroughs on advanced electronics and lighter-weight parts proved a common theme here Monday night at the 2017 Automotive News PACE Awards. A dozen international companies won recognition for breakthrough solutions for lighter-weight components and more efficient engineering, as well as for more advanced safety technologies and new approaches to manufacturing.
Source: Automotive News

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Past Articles:
 
Quotable
"There might be some higher inventory levels on certain car lines or truck lines, but that's going to happen in good times or bad."

    -- NADA Chairman Mark Scarpelli, owner of Chevrolet, Kia and Chrysler dealerships near Chicago, commenting on the rise in vehicle inventory, The Associated Press, April 3

Sponsored by

Automotive Forum -- April 11

 
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April 6: FTC Update on Court-Ordered Buyback of Certain VW and Audi Vehicles (12 p.m. ET)

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