JANUARY 7, 2009


IN THIS ISSUE

DEALER NEWS & INFORMATION

Automotive News at a Glance

 

REGULATORY & LEGAL UPDATES

New I-9 Required for Federal Employment Verification Beginning February 2, 2009

NADA Summary of TALF (Term Asset-Backed Securities Loan Facility) - What it Means to Dealers

 

UPCOMING SEMINARS

Regulatory & Legal Compliance Seminar THIS WEEK!

Tough Times, Tougher Dealers Webinar


CALENDAR OF EVENTS
Upcoming Events

Annual Colorado Dealers Legal Counsel Lunch and Issues Briefing

NADA Convention and Exposition

Denver International Auto Show

CADA Annual Member Golf Event


DEALER MILESTONES,
HIGHLIGHTS & TRANSITIONS

NADA 2009 Convention and Exposition

Share Your Accomplishments


ARCHIVES

CLICK HERE for Open Road
e-newsletter archives.

CLICK HERE for an Index of Regulatory
& Legal Articles
from the Open
Road e-newsletter.

CLICK HERE for Bulletin archives.

CLICK HERE for Colorado Auto
Outlook
archives.

CLICK HERE for Denver Auto
Outlook
archives.


ONLINE REGISTRATION

CLICK HERE to register online
for various CADA seminars & events.


MEMBERSHIP RESOURCES

CLICK HERE for details on the
Speaker and Educational
Resources
.

CLICK HERE for a list of current
Endorsed Vendors/Programs
.

CLICK HERE for a list of current
Allied Members
.

CLICK HERE for an order form for
CADA forms
.

CLICK HERE for information on all member services.



www.nada.org

CLICK HERE for NADA
Regulatory Affairs information
.


STATE GOVERNMENT RESOURCES

CLICK HERE for the Auto Industry
Division
of the Colorado Dept.
of Revenue.

CLICK HERE for the Title and
Registration section
of the
Colorado Dept. of Revenue,
Motor Vehicles Division.

CLICK HERE for the Colorado
Department of Labor &
Employment
website.




Visit us at www.coloradodealers.org.


CADA Hours of Operation
Monday to Thursday, 7 a.m. to 5 p.m.
Friday, 7 a.m. to 4 p.m.


CADA STAFF

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contact Lauren Stadler at
lauren.stadler@coloradodealers.org

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ENDORSED VENDOR/PROGRAMS

CLICK HERE for information about the
Endorsed Vendors/Programs
.

 


If you have trouble viewing any of the links or documents in this e-newsletter, please CLICK HERE to access the web-based version.


REGISTER NOW!
REGULATORY & LEGAL COMPLIANCE SEMINAR THIS WEEK!!
Friday, January 9, 2009

We have EXPANDED the content and focus of our January 9th, 2009 Denver training session! 

CLICK HERE for more information!


AUTOMOTIVE 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.



NEW I-9 REQUIRED FOR FEDERAL EMPLOYMENT VERIFICATION BEGINNING FEBRUARY 2, 2009

Beginning February 2, 2009, employers will be required to use a new Employment Eligibility Verification Form I-9 to verify the identity and work authorization of all new hires. No previous editions for Form I-9 will be accepted after February 2, 2009. Until that date, however, employers should continue to use the existing form and current I-9 procedures.

Since 1986, federal law has required employers to verify the identity and work authorization of newly hired employees and complete Form I-9. This is done by reviewing a document that illustrates both identity and work authorization or by examining a combination of identity and work authorization documents.

Employers will notice some major changes to the employment eligibility verification process. **Most significantly, after February 2, all documentation offered for I-9 purposes must be unexpired at the time it is presented.** This marks a complete reversal of existing I-9 procedures.

The United States Bureau of Citizenship and Immigration Services has said that it will issue a new Handbook for Employers before February 2, 2009 to assist employers in complying with the new rules. However, it is important to remember that the new Form I-9 should be used only for employees hired on or after February 2, 2009 and should not be completed for existing employees hired before that date.
For more information, contact MSEC's Immigration Services Unit at (303) 223-5430. Also, plan to attend an upcoming I-9 Compliance class to be held January 28, 2009 in Colorado Springs and February 3, 2009 in Denver.

NOTE:  DHS has not yet issued the new form.  As soon as the new form is issued, we will notify our members and provide links to the new form; it will also be on the USCIS website as well:

Employment Eligibility Verification information page.

Current I-9 form  (Rev. 06/05/07; Check back in later January for the revised version)

* * * * * * * *

NADA SUMMARY OF TALF (TERM ASSET-BACKED SECURITIES LOAN FACILITY) - WHAT IT MEANS TO DEALERS

A new Web page on NADA'S web site -- www.nada.org/MediaCenter/IndustryNews/TALF -- explains in greater detail what the Federal Reserve Board's TALF program means to dealers and how they will benefit from the action taken on Dec. 19 to include securities backed by dealer floorplan loans as a qualifying asset class.

* * * * * * * *

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.



REGULATORY & LEGAL COMPLIANCE SEMINAR THIS WEEK!

Friday, January 9, 2009

We have EXPANDED the content and focus of our January 9th, 2009 Denver training session! 

Initially, the focus was Federal Regulatory updates, along with a re-cap of Red Flags/Safeguards rules (you should be complying with these now, despite the enforcement delay).  In addition, we will now be addressing the following recent developments as well:

  1. D&H Fee Update:  In response to class action lawsuits targeting dealerships in Colorado for Delivery & Handling charges, the Attorney General has issued an important clarification:  the language prompting many of these lawsuits is not necessary in order to be within the ‘safe harbor’ that the existing Assurance of Discontinuance offers.  
    • Dealerships should modify the language in their contracts and disclosures to help minimize risks in this area
    • The recent clarification letter will be explained, and sample disclosures provided.
    • Reminder of the key requirements on D&H in Colorado and update on pending litigation
  2. Revised Bradford Publishing Retail Installment Sales Contract (RISC):  A revised RISC is due to be available in the last half of January, 2009.  It will include revised D&H disclosure language to take full advantage of the Attorney General clarifications.  It also includes various additional changes to help better protect dealers in the event of contractual disputes.  There will also be a version available WITH arbitration.  Understand these changes and more

By Paul Metrey, NADA’s Director of Regulatory Affairs
Make sure you completely understand the new Red Flags compliance obligations:

  • Create and implement a written ID Theft Protection Program with procedures designed to detect and respond to “red flags” indicating potential identity theft.
  • Periodically review and update the written program to reflect changing risks.
  • Train responsible staff members and oversee service providers (i.e., third party vendors).
  • Senior management or owner(s) must approve the program and review/monitor annual reports.

***Opportunity to ask questions, and delve into specific aspects of implementation***
Enforcement date delayed, but dealerships need to be compliant NOW!

Paul D. Metrey, Esq. is the Director of Regulatory Affairs in the Legal and Regulatory Group of the National Automobile Dealers Association (NADA). He represents dealer interests before, and educates dealers on, regulations promulgated by several federal agencies including the Federal Reserve Board, FTC, FCC, Department of the Treasury, and IRS. He reports on regulatory developments and has authored several NADA publications and frequently speaks to dealers, dealership compliance professionals, and other industry groups on regulatory topics, including recent developments in privacy, ID theft, telemarketing, consumer financing, and tax.

CLICK HERE to register online!

A CLICK HERE for more information
on this
training session.

* * * * * * *

TOUGH TIMES, TOUGHER DEALERS: SAVING YOUR DEALERSHIP'S ASSETS

VIRTUAL SEMINAR

Tuesday, January 13, 2009

Presented by attorney Michael Charapp, of Charapp & Weiss, LLP, and CPA Bradley Nicklin, of Beers + Cutler,

This webinar focuses on the issues facing almost every dealer today, such as:

  • Cash Management
  • Expense Control
  • Franchise Rights

Participants will also learn how to deal with bankruptcy—both at the manufacturer and dealership levels—as well as franchise terminations, brand terminations, and the legal ramifications of reducing a workforce.

The registration fee for the virtual seminar is only $50 per computer connection.

"Tough Times, Tougher Dealers" will also be a workshop at the 2009 NADA Convention & Exposition in New Orleans. The workshop will be held twice—11 a.m. on Saturday, Jan. 24, and 8:30 a.m. on Monday, Jan. 26. In addition, the convention will offer more than 40 other workshops, many of which are designed to tackle today’s tough economic issues head-on, such as maintaining dealer profitability, improving cash flow, surviving the credit crunch and driving customers back to dealerships. For more information, visit www.nada.org/convention.

CLICK HERE to register online!

TO REGISTER ONLINE FOR ANY CADA
SEMINAR OR EVENT, PLEASE VISIT:

www.coloradodealers.org/registration
Event Description
Date/Time
Location

Regulatory & Legal Compliance Seminar

Delivery & Handling, Recent Attorney General clarifications, Bradford Publishing revised Retail Installment Sales Contract, Federal Compliance Overview (including Red Flags), and Federal Employment Law changes (FMLA/ADA)

Denver

By Paul Metrey, NADA Regulatory Affairs

Friday, January 9, 2009,

7:30am

Breakfast meeting

William D. Barrow Building (CADA/MDADA Headquarters)
290 E. Speer Blvd
(SW Corner of Grant/Speer)
Phone: 303.831.1722

For more information Click Here

REGISTER ONLINE!

Tough Times, Tougher Dealers: Saving Your Dealership’s Assets

Webinar

Denver

Presented by attorney Michael Charapp, of Charapp & Weiss, LLP, and CPA Bradley Nicklin, of Beers + Cutlers

Tuesday, January 13, 2009,

1:00 - 3:00 pm

 

The registration fee for the virtual seminar is only $50 per computer connection.

For more information or to register, visit www.nada.org/seminars!



Event Description
Date/Time
Location

Annual Colorado Dealers Legal Counsel Lunch and Issues Briefing

This is for attorneys working with dealers and dealer principals.

Friday, January 9, 2009

11:30-1:30

Lunch

Briefing / update on upcoming legislative session, compliance and regulatory matters, and Red Flags/Safeguards overview from Paul Metrey, NADA Regulatory Affairs

Baur’s Restaurant
www.baursdenver.com
1512 Curtis Street , Denver, CO 80202

CLICK HERE to register online!
CLICK HERE for more information!

NADA Convention & Exposition

Jan. 24-27, 2009

New Orleans Morial Convention Center
New Orleans, LA

CLICK HERE for more information from the official website.

Denver International Auto Show

Wednesday, April 1, 2009

thru  

Sunday, April 5, 2009

Colorado Convention Center

700 14th Street Denver 80202

 

CADA Annual Member Golf Event

Monday, August 24, 2009

12:00 Noon Shotgun Start

Glenmoor Country Club
110 Glenmoor Drive
Cherry Hills Village, 80113
303.781.3000

www.glenmoorcc.org


* * * * * * * *

NADA 2009 CONVENTION AND EXPOSITION

aNew Orleans is now the eighth fastest growing metropolitan area in the United States, according to the U.S. Census Bureau. To show support for the rebirth of New Orleans, NADA is headed back to the Big Easy to hold its 92nd annual convention and exposition there Jan. 24-27, 2009.

“The theme for our New Orleans convention is 'Voice of the Dealer® ... Committed to Community.' What better way to show that commitment than for us to be there in full strength at one of NADA's favorite convention cities," said Annette Sykora, 2008 NADA Chairman. NADA has held its convention in New Orleans every few years for the past 30 years.

For more information, visit the following websites:
http://www.nada.org/TrainingEvents/Convention/
http://expo.nada.org/nada2009/public/enter.aspx

CLICK HERE to register!

* * * * * * * *

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.


If you want to be added to our mailing list, please CLICK HERE.

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Colorado Automobile Dealers Association
290 East Speer Boulevard Denver, CO 80203
Telephone: 303.831.1722 | Facsimile: 303.831.4205
www.coloradodealers.org