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NOVEMBER 23, 2010
IN THIS ISSUE
 DEALER NEWS & INFORMATION
– Auto Industry News at a Glance
REGULATORY & LEGAL UPDATES
– IRS Creates UNICAP Safe Harbor Methods for Dealers
 LEGISLATIVE UPDATE
– CADA Hosts Caucus Dinner for the House and Senate Republicans
– Mark Your Calendars!
UPCOMING SEMINARS
– Upcoming Seminars
CALENDAR OF EVENTS
– Upcoming Events
– NADA Convention and Expo
DEALER MILESTONES,
HIGHLIGHTS & TRANSITIONS
–Share Your Accomplishmens
THE AFTERFACT
–All the News That's Fit to Email!
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AUTO INDUSTRY NEWS AT A GLANCE
Listed here are several articles pertaining to the
auto industry in general that appeared recently in newspapers and other media outlets across the nation.
- GM Stock Rises in First-Day Trading
The Wall Street Journal, November 18
General Motors Co. shares rose modestly in their first day of trading Thursday after the car maker's historic initial public offering gave investors their first chance to buy and sell GM stock in more than 18 months.
- GM Public Offering Isn't A Comeback Story Yet
NPR, November 20
General Motors was back on the New York Stock Exchange this week, less than 18 months after the iconic American car company had to be bailed out by the federal government. Host Scott Simon talks with Micheline Maynard, senior editor for Changing Gears, a new public radio project that looks at the future of the industrial Midwest.
- You Think You're a Good Driver?
The Wall Street Journal, November 18
Sébastien Loeb, a Seven-Time Rally Champion, Can Lay Claim to Being the World's Best
- U-M economists: Expect only a slight gain in Michigan jobs
Detroit Free Press, November 19
Next year, Michigan’s economy will gain jobs for the first time in more than a decade, economists at the University of Michigan said this morning in their annual forecast.
- Plenty of car batteries, but no magic bullet
MSNBC, November 19
For now, internal combustion still rules automotive kingdom
- Chrysler's transformed 200 leaves Sebring far behind
The Detroit News, November 19
Chrysler Group LLC wants to be a contender in the critical midsize car market with the Chrysler 200, erasing as many traces as possible from its forerunner, the outgoing Sebring.
- White House: GM no longer 'manufacturing dinosaur'
The Detroit News, November 19
A top White House economic adviser defended the government's $49.5 billion bailout of General Motors Co., saying the company has turned around and is no longer a "manufacturing dinosaur."
- Ford's heavy-duty truck sales surge
Detroit Free Press, November 15
Ford noted that half of the heavy-duty pickups sold through September were made by Ford.
- Electric cars illuminate 2010 Paris Motor Show
Tim W Jackson, Wordpress Blog
See more at http://timwjackson.wordpress.com
- Obama promotes electric cars on Portugal visit
Detroit News, Autos Insider
See more at www.autosinsider.com
- Kia POP Concept: A Case Study in What-If
The New York Times, Wheels
See more at http://wheels.blogs.nytimes.com
- Infiniti becomes first to add noisemaker to hybrid
USA Today, DriveOn
See more at http://content.usatoday.com/communities/driveon/index
- Investors take GM stock for a joyride
Los Angeles Times, Autos
See more at http://www.latimes.com/classified/automotive/highway1/
- Best Used Cars Station Wagons Under $20,000
AOL Autos
See more at http://autos.aol.com/
- The Cheapest Cars to Insure
The Wall Street Journal CARS
See more at http://online.wsj.com/public/page/news-autos-automotive.html
- Chevy Volt takes 'Green Car of the Year' award
CNN Money
See more at http://money.cnn.com/autos/
…more news articles are included at the end of this issue.
IRS CREATES UNICAP SAFE HARBOR METHODS FOR DEALERS
NADA Advocacy Leads to Major Victory for Dealers
In a major victory for car and truck dealers, the IRS has created uniform capitalization (UNICAP) "safe harbor" methods of accounting that favorably resolve several contentious and potentially very costly income tax issues that have arisen during IRS audits of franchised dealers over the past five years.
The new safe harbor methods, which the IRS issued following numerous meetings with NADA, generally allow car and truck dealers to be classified as retailers who are not required to capitalize handling, storage, or production costs incurred at their retail sales facilities.
A brief summary of the new safe harbor methods is posted at www.nada.org/regulations (Member login required). In addition, NADA will host a Webinar on Revenue Procedure 2010-44 with IRS Motor Vehicle Technical Advisor Terri Harris and NADA outside tax consultant and former IRS Motor Vehicle Industry Specialist Bob Zwiers on Tuesday, Nov. 30, at 1 p.m. EST. To Register: Log into or sign up for NADA University. Once you have logged in, visit the NADA U Store, select "Webinars & Seminars" under "Products," and follow the ordering instructions. If you experience any problems, contact NADA U Customer Service at 1-800-557-6232.
Additionally, local automotive CPA, Richard Heider, often consulted by CADA, provided the following summary of this announcement:
IRS Modifies its Position on UNICAP,
By Richard P. Heider, CPA, Heider, Tanner and Dirks, Inc.
“We strongly encourage all eligible dealers to review this with their dealership tax preparers. We feel that electing the safe harbors will benefit most if not all dealerships. If these safe harbors are not elected, this could subject the dealer to significant UNICAP adjustments.”
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If you have questions on any legal or regulatory topic, please contact:
DISCLAIMER: CADA is not authorized to dispense legal advice.The information contained in this weekly email is intended to provide important updates and reminders regarding statutes, litigation, and regulations. CADA always advises that dealers should consult legal counsel on the specifics of any laws or regulations to ensure proper compliance
 
CADA HOSTS CAUCUS DINNER FOR THE HOUSE AND SENATE REPUBLICANS
House Speaker Frank McNulty (R-Highlands Ranch), Melissa Kuipers, Senate Minority Leader Mike Kopp (R-Littleton)
On the evening of Friday, November 19th, CADA was privileged to host the caucus dinner for the House and Senate Republicans for the 5th year in a row. This year, the annual dinner was held at Trappers Restaurant in Parker. Tim Jackson and Melissa Kuipers of CADA had the opportunity to speak with over 50 members of the House and Senate Republican caucuses about goals for the coming legislative session and how to best cultivate an increasingly business friendly atmosphere in Colorado.
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MARK YOUR CALENDARS!
The 2011 Session is slated to begin on Wednesday, January 12th and CADA’s Legislative Policy Committee is ready to get started on our legislative agenda. If you want to be part of the discussions that will ultimately determine CADA’s legislative efforts for the 2011Session, please join us on Wednesday,December 8th from 12:00pm-2:00pm at CADA. Make your voice heard!
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Questions or Comments? Please contact:
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| Event Description |
Date/Time |
Location |
Stay tuned for upcoming seminars!
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If you have a particular area of interest or would like to suggest a training seminar topic, please contact Lauren Stadler at 303.457.5123 or lauren.stadler@coloradodealers.org
| Event Description |
Date/Time |
Location |
NADA Convention & Expo
San Francisco
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February 5-7
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CLICK HERE for more details! |
Denver Auto Show
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Wednesday, March 30 thru Sunday, April 3, 2011
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Colorado Convention Cente
700 14th Street, Denver, 80202
For more details visit www.denverautoshow.com
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As car dealers our visions are always beyond the present and embedded in the future. With new car sales on the rise and crippling legislation prevented, we, as dealers can certainly see a Bright Future Ahead!
To learn more about this Future and to explore all the possibilities it can contain, be sure to attend this year’s NADA Convention and Expo in San Francisco. We have so much in store for you! To name a few things headed your way:
- New on Friday night! A NADA welcome reception co-sponsored by JD Power and Associates
- One stop registration and housing online with immediate confirmation!
- A compact 3 day Convention that wraps up on Monday at 5:00
- New workshops by Google, Ritz Carlton and JD Powers!
- General Sessions to be held on the third level in Moscone West, eliminating the busing to Civic Auditorium
- Advance registration open right up to Friday!
- Early Bird discounted registration fees
- New ID card scanners to replace the expo cards
- Optional badge mailing to your home enabling streamlined credential pickup.
Visit www.nadaconventionandexpo.com for more details!
LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!
Have you or anyone else at your dealership won an award recently? Have you or your dealership provided any outstanding community service? We want to recognize such accomplishments. Please send us a brief write-up of the award or event along with any other information to milestones@coloradodealers.org. Also include your contact information for further follow-up.
THE AFTERFACT
- Chevy Volt panel includes electric car advocate, ex-GM protester
Detroit Free Press, November 12
Electric car advocate, ex-GM protester now on Chevy panel
- Automakers muscling into extreme sports
MSNBC, November 12
Ford, Dodge sponsoring triathlons, marathons looking for motivated consumers
- G-Power's New (Insert Superlative Here) BMW M6
Jalopnik, November 12
In the battle of ridiculous tuner shop superlatives, tuning shop G-Power takes the cake with the BMW M6 Hurricane RR, calling it the "world's fastest four-seat coupé."
- Once smitten, you won't care about 2011 Volvo S60 snags
USA Today, November 11
Volvo gave its redesigned 2011 S60 T6 compact sedan the sweetest drivetrain Volvo's had on the street in a very long time, maybe ever.
- Mayor Bing heads to Turin, the 'Detroit of Europe'
Forbes, November 12
Bing spokeswoman Karen Dumas says Friday that Bing will be in Turin next week to meet with officials and discuss land use and economic development.
- Ford's Barlow gains global duties with Team Detroit
Detroit Free Press, November 12
Toby Barlow, the chief creative officer for Ford’s advertising with Team Detroit, has gained new global duties for the Dearborn-based collection of advertising agencies, Team Detroit announced today.
- Wagoner has a part in GM's turnaround
The Detroit News, November 11
Serially maligned General Motors Co. is showing a recurring knack for making money — $6.1 billion before taxes so far this year — by selling cars and trucks to real people worldwide, meaning the race is on to claim credit for its quickening turnaround.
- How to Turn Heads on the Road: Buy a Meter-Maid Car
The Wall Street Journal, November 11
Used Ones Are Cheap, Cute, Maneuverable; The Most Fun You Can Have on a Trike
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