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May 23, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA Calls for Workshop Proposals
Dealers: 'Who's Hackett?'
Ford Stock Up 2.1% on News of New CEO
Ford Gets a Shake-Up, But Across Town, Confidence in GMs Barra
CEO Says Changing VW Culture Proving Tougher Than Expected
Penske, Crain and the Obsession That Unites Them
Top Stories
NADA Calls for Workshop Proposals

The NADA Show 2018 (formerly the NADA Convention & Expo) will be hosting a series of workshops next year and is inviting industry experts to submit workshop proposals relevant to new-car dealers and their top managers. The 2018 show will be held in Las Vegas from March 22 to 25.

The workshop proposals must emphasize current topics covering the following tracks: Dealer/Executive; Digital and Traditional Marketing; Legal and Regulatory Compliance; Employee Recruiting, Hiring and Retention; Fixed Operations (Parts, Service and Body Shop); and Variable Operations (Sales, Business Office and F&I)

At the four-day event in 2017, there were 86 presenters covering 68 workshop topics/184 sessions with 15,928 total participants.

The deadline for submitting a proposal for the 2018 show is 11:59 p.m. ET on June 26, 2017. Click here for more details.
Source: NADA

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Dealers: 'Who's Hackett?'

News that Mark Fields is out at Ford Motor Co. left surprised dealers on Monday with a common reaction: Who is Jim Hackett? In the wake of Fields' sudden departure, Ford- and Lincoln-brand dealers have to ponder a future with a new CEO they know little about.
Source: Automotive News

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Ford Stock Up 2.1% on News of New CEO

Ford Motor Co. stock was up modestly Monday on news that company CEO Mark Fields has been ousted and Jim Hackett, chairman of the company’s Ford Smart Mobility subsidiary, will take over. Shares closed up 2.1 percent Monday to $11.10, on a day when major stock indexes were up about a half-percent. Ford’s stock closed Friday at $10.87 a share. Shareholders have been frustrated by the sagging stock price, which under Fields’ watch as CEO for nearly three years has fallen about 40 percent.
Source: The Detroit News

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Ford Gets a Shake-Up, But Across Town, Confidence in GMs Barra

General Motors’ directors see sagging stock price as symptom of investor ambivalence on auto sector

Mary Barra took the wheel as head of General Motors  Co.  about six months before the Mark Fields took over at crosstown rival Ford Motor  Co. Much like at Ford, GM’s shares have languished. Ford on Monday replaced Mr. Fields, turning to an industry outsider who had been leading its push into new businesses such as autonomous cars and car-sharing programs. But Ms. Barra, 55 years old, who became the first woman to run a global car company, continues to enjoy broad support from GM’s board and presides over a unified executive team, according to people with knowledge of the company.
Source: The Wall Street Journal (subscription required)

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CEO Says Changing VW Culture Proving Tougher Than Expected

Some Volkswagen managers are struggling to adapt to the German carmaker's drive to improve accountability after its diesel emissions fraud, its chief executive said, suggesting it could take years to establish a new corporate culture. The attempt by the world's largest automaker to become more transparent and decentralize power is seen by investors as a key part of its campaign to regain trust following its admission in 2015 that it cheated U.S. diesel emissions tests.
Source: Reuters

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Penske, Crain and the Obsession That Unites Them

It has been 51 years since Roger Penske entered a racing team in the 1966 24 Hours of Daytona. Since then, Team Penske drivers have captured 16 Indianapolis 500s, 11 ahead of the next owner. They've won two Daytona 500s, a NASCAR Cup Championship and 29 national titles in all. And Penske, now 80, has translated his racing successes into a template for his diverse business ventures. Automotive News Editor-in-Chief Keith Crain talked racing with Penske at the [2017] National Automobile Dealers Association convention in New Orleans.
Source: Automotive News

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Quotable
"Maybe some new blood in there might get some excitement going, get some new programs and get our sales going. I don't think it will hurt."

    -- Heath Thompson, general manager of Ronnie Thompson Ford in East Ellijay, Ga., commenting on the departure of Mark Fields at Ford Motor Co., Automotive News, May 22

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