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May 26, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
New Ford CEO Relies on Veterans to Reboot Profits
GM Denies Allegations That It Cheats on Diesel Emissions
Former NADA Chairman Jack Kain Honored in Congressional Record
Trump Reportedly Slammed German Carmakers and Threatened to Stop Their Sales in the US
Off-Lease Vehicles Could Send U.S. Sales Tumbling, Analyst Warns
IRS Tax Forums Provide Opportunity For Face-to-Face Resolution of IRS Cases
NADA Wins 3 Telly Awards for Video Production
Top Stories
New Ford CEO Relies on Veterans to Reboot Profits

Ford Motor Co. on Thursday reshuffled senior management and brought back a former executive from Uber Technologies Inc, signaling its new chief executive officer will rely on tested company veterans to turn Ford around rather than outside talent. James Hackett, named CEO on Monday, has said he wants to streamline Ford's hierarchy and speed up decision-making, as the No. 2 U.S. automaker faces threats from Silicon Valley's self-driving technology and resurgent rival General Motors Co. in its traditional markets. Raj Nair, currently Ford's executive vice president of product development and chief technical officer, will take over as president, North America, effective June 1, the company said. He will be responsible for operations that generate about 90 percent of Ford's global profits.
Source: Reuters

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GM Denies Allegations That It Cheats on Diesel Emissions

General Motors on Thursday denied allegations made in a lawsuit that the company's full-size diesel pickup trucks cheat on emissions tests. The lawsuit filed by lawyers for two truck owners in U.S. District Court in Detroit alleges that trucks with Duramax diesel engines have three devices on them that are rigged to allow more pollution on the road than during treadmill tests in the Environmental Protection Agency laboratory. But GM called the allegations "baseless" and said in a statement it would vigorously defend itself.
Source: The Associated Press

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Former NADA Chairman Jack Kain Honored in Congressional Record


U.S. Rep. Andy Barr, R-Ky., inserted a statement in the Congressional Record on May 2 honoring Jack Kain, who served on NADA’s board of directors from February 1995 to January 2017, representing Kentucky's franchised dealerships. He served as NADA chairman in 2005, finance chairman of NADA PAC (formerly DEAC) and numerous NADA committees.

“Mr. Speaker, I rise to honor a very special individual, Mr. Jack Kain, of Versailles, Kentucky. Jack is renowned for his leadership in the automobile industry,” Rep. Barr wrote in the Congressional Record. “Jack Kain is a fine man who has earned the respect of his community and his colleagues in the automobile industry throughout America.”

He is owner of Jack Kain Ford in Versailles, Ky., and Kain Family Ford Lincoln-Mercury in London, Ky. He started in the automotive business in 1947, selling cars while in college, and became a Desoto-Plymouth-International Harvester dealer in Frankfort, Ky., in 1952.
Source: NADA

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Trump Reportedly Slammed German Carmakers and Threatened to Stop Their Sales in the US

President Donald Trump threatened to stop German car sales in the US during a meeting with European officials in Brussels on Thursday, German publication Der Spiegel first reported. Trump said he would stop German automakers from selling "millions of cars" in the US, Spiegel reported, calling Germans "very bad."
Source: Business Insider

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Off-Lease Vehicles Could Send U.S. Sales Tumbling, Analyst Warns

An incoming "tsunami" of returning off-lease vehicles could send U.S. new-vehicle sales tumbling as low as 13 million by 2021, according to one Wall Street analyst. John Murphy, an analyst at Bank of America Merrill Lynch, said weaker new-vehicle demand so far this year could spell trouble for the industry moving forward. That's because the market might not prove to be large enough to absorb roughly 3.5 million off-lease vehicles set to return to dealership lots this year.
Source: Automotive News

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IRS Tax Forums Provide Opportunity For Face-to-Face Resolution of IRS Cases

The upcoming Nationwide Tax Forums offer tax professionals with unresolved client cases the opportunity to meet face to face with IRS representatives in the Case Resolution Program.  Since 2011, case resolution staff has worked nearly 4,500 cases with a resolution rate of more than 97 percent. A Forum attendee must bring a valid power of attorney for any case he or she wishes to work with the IRS.  Reduced cost “early bird” registration for all five 2017 IRS Nationwide Tax Forums ends May 31 at 6 p.m. ET.  Registration and details are available at www.irstaxforum.com.
Source: IRS

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NADA Wins 3 Telly Awards for Video Production

Three NADA videos were selected as winners in the 38th annual Telly Awards program for 2017. The winners are:

Past Telly Award winning NADA videos include "New York Auto Forum" in 2016, and five awards in 2015 for the animated video series promoting "The Value of the Dealer Franchise System."

The Telly Awards, founded in 1979, is the premier award honoring the top local, regional and cable TV commercials and programs, video and film productions, and online commercials, video and films. Winners represent the best work of advertising agencies, production companies, television stations, cable operators and corporate video departments in the world. For more information, visit www.tellyawards.com.  
Source: Telly Awards/NADA

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Quotable
"Jack Kain is a fine man who has earned the respect of his community and his colleagues in the automobile industry throughout America."

    – U.S. Rep. Andy Barr, R-Ky., honoring Jack Kain, former NADA chairman and board member, Congressional Record, May 2017

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