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– Dealer Participation Needed: NADA Compensation and Benefits Survey – The Voices of Experience Speaker Series Presents: The Toyota Approach to Business
– City of Louisville - Mistake on USE Tax! – REMINDER: National Association of Dealer Counsel Conference NEXT WEEK!
– HB 1230 - Hold Harmless for Dealers Passes out of House of Representatives – SB-150 - CADA Working to Amend SB-150 To Close Bankruptcy Loophole While Still Protecting Dealers – SB-091 - CADA's Franchise Bill Awaits Signature by Governor Ritter
– NADA Virtual Seminar: A Deeper Dive Into the FTC Red Flags Rule – CADA Virtual Seminar: Employer Requirements for New COBRA Subsidy
– Statewide Green Car Convoy Across Colorado – Rocky Mountain Automotive Summit – Green Tie Charity Preview Event – NADC 5th Annual Member Conference – Denver International Auto Show – Dealer Management and Leadership Summit – CADA Annual Member Golf Event
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DEALER PARTICIPATION NEEDED: NADA COMPENSATION AND BENEFITS Surveys are DUE by March 31st! NADA sponsors an annual dealership compensation survey; we strongly encourage you to participate in this nationwide survey designed to collect compensation and benefits data for key dealership employees. This survey will provide overview information for the Mountain region and also show key compensation metrics in comparison to the rest of the country. In 2007 more than 2,500 dealers from 71 state and local associations participated in this survey and the results were published in the NADA Management Guide “PF15 Paying to Motivate Update ‘07”. The results of this year’s survey, published as “PF16 – Paying to Motivate Update ‘09”, will be mailed to you from NADA for free if you decide to participate!* This publication will also be sold to non-participating members for $150 each and will be available in late summer. Additionally, Colorado state-specific reports will be provided to all participants; CADA will mail those reports when available. To complete the survey online click here: www.nada.org/survey To obtain a paper copy of the survey CLICK HERE Listed here are several articles pertaining to the
THE VOICES OF EXPERIENCE SPEAKER SERIES PRESENTS: THE TOYOTA APPROACH TO BUSINESS
Monday, March 30th, 2009 6:00pm-8:00pm The Toyota Way Approach to Business Jim Lentz – President, Toyota Motor Sales, U.S.A., Inc. Gates Hall at the Newman Center for Performing Arts, DU Campus Toyota Motor Sales President and DU Alumnus Jim Lentz shares his insights into The Toyota Way, a set of values, beliefs and business practices developed over 75 years that have become Toyota's source of competitive strength in the automotive industry. Lentz discusses how these core values were formed and provides real-life examples of how they move Toyota's business forward. During periods of economic turmoil such as these, core values and ethics, he believes, help companies weather turbulent times and thrive in good times. To read more about this program and Mr. Lentz, please click here Please RSVP! CLICK HERE for an event invitation CLICK HERE for a parking permit CLICK HERE for a parking map Remember! Continuing Education Credits! This event has been approved for 2 hours of CLE credit (2 General credits and 1.2 Ethics credits), NACD credits (2 credits), & CPE credit (Code A)
CITY OF LOUISVILLE - MISTAKE ON USE TAX! CADA has been advised by the City of Louisville there was a mistake made on the application of a recent local tax change. On January 1, 2009, the City of Louisville (a home-rule, self-collected city), increased the city sales tax rate from 3.375% to 3.5%. This change, however, only affected the sales tax rate, but not the use tax rate, which remains at 3.375%. The DR 1002 publication that many dealerships utilize does not list use tax rates, but only sales tax rates for these self-collected municipalities. In addition, the certified third party databases were incorrect and showed the new rate for both categories. Based upon the determination of the Louisville City Attorney, in-City purchases should be subject to the 3.5% sales tax, but out-of-City purchases should be subject to the 3.375% use tax rate. Both the counties and outside vendors have been notified; dealerships selling to residents of the City of Louisville should apply the use tax rate of 3.375% as soon as possible. * * * * * * * * REMINDER: NATIONAL ASSOCIATION OF DEALER COUNSEL CONFERENCE NEXT WEEK! The National Association of Dealer Counsel (NADC) is a nationwide professional organization of attorneys who represent automobile and other vehicle/vessel dealers. The 5th Annual Member Conference is being held in Las Colinas (near Dallas) next week. Dealership attorneys are encouraged to attend.CLICK HERE for the program overview. * * * * * * * * If you have questions on any legal or regulatory topic, please contact:
DISCLAIMER: CADA is not authorized to dispense legal advice.
HB 1230 HOLD HARMLESS FOR DEALERS PASSES OUT OF HOUSE OF REPRESENTATIVES After passing out of the House Transportation Committee by a vote of 11-0, the full House of Representatives echoed the sentiments of the committee on Monday morning by passing HB 1230 by a vote of 64-0-1. HB 1230 provides a hold harmless for dealers who rely upon address information provided by a consumer, that turns out to be inaccurate, relative to sales tax collection. In order to qualify for the hold harmless, dealers must get a signed affidavit from the consumer where the purchaser affirms that the address they are providing to the dealer as their primary address is true and correct. If the dealer complies with this component of the statute and a taxing jurisdiction (including all non-home rule municipalities, cities, counties and the State) later determines that the consumer's information was inaccurate, the dealer is held harmless of any fees or penalties associated with the incorrect tax collection. The second component of the bill, which was pursued by CADA, directs the Transportation Legislation Review Committee (TRLC) to review the inaccuracies of the state approved tax databases for vendors this summer during interim committee meetings. The bill also requires the TRLC to study the accuracy and availability of state approved sales tax databases, how often these databases are updated, the efficiency of the collection of sales tax on the sale of motor vehicles by home rule counties and municipalities, and the number of occurrences in which motor vehicle registrations and titles are returned to the dealer due to sales tax discrepancies. The committee would then make recommendations for a bill to be filed during the 2010 Legislative Session to address these issues. Strategically, this study was the best option for CADA to achieve substantive reform in this area, especially with the misinformation being circulated at the Capitol by opponents of this bill. If you would like to see a copy of this bill, please click here. The bill will now be sent to the Senate and assigned to a committee for further hearing. If you would like to testify in the Senate committee or if you have any questions on this legislation, please contact me at melissa.kuipers@coloradodealers.org or Tammi McCoy at tammi.mccoy@coloradodealers.org. * * * * * * * * SB-150 - CADA WORKING TO AMEND SB-150 TO CLOSE BANKRUPTCY LOOPHOLE WHILE STILL PROTECTING DEALERS The Credit Union Association and the Independent Bankers Association asked Sen. Rollie Heath (D-Boulder) and Rep. Claire Levy (D-Boulder) to carry a bill that would prevent consumers from taking advantage of the bankruptcy laws to the detriment of dealers and lienholders. As many of you know, consumers will purchase a vehicle only to declare bankruptcy days later before the dealer has been able to file the lien. As drafted, the bill would have required dealers to perfect their liens within 20 days of consumers taking possession of the vehicle. The bill would have also given a perfected purchase-money lien priority over a conflicting lien in a bankruptcy proceeding. While CADA supported the intent of the bill, 20 days to perfect a lien was significantly shorter than the 30 days allowable under the Federal safe-harbor law. CADA successfully lobbied the proponents of the bill and the bill sponsors to extend the perfection deadline to 30 days, while still keeping all of the benefits for creditors under the UCC, which was and is the original intent of the bill. The bill will be heard on 2nd Reading in the House this Friday, and will be amended to improve some of the bill language to make certain that motor vehicle lien holders have priority over other creditors in a bankruptcy proceeding. Special thanks goes to CADA’s Tammi McCoy, who was integral in drafting the amendment language, along with Tim Lamb, Esq. of Timothy J. Lamb, P.C. in Denver. We will provide a copy of the revised bill in next week's Open Road. * * * * * * * * SB-091 - CADA'S FRANCHISE BILL AWAITS SIGNATURE BY GOVERNOR RITTER SB-091 has passed through both chambers of the legislature and is now ready for signature by Governor Ritter. We have asked the Governor's office for a bill signing ceremony and will advise of the details when we have them. If you would like to see a copy of the bill that will become law upon signature by the Governor, please click here. * * * * * * * * Questions or Comments? Please contact: Melissa Kuipers – VP of Government Relations and Communication DENVER AUTO SHOW Use this coupon in your marketing campaigns for dealer customers! Click on the coupon for a printable version!
NADA VIRTUAL SEMINAR: A DEEPER DIVE INTO THE FTC RED FLAGS RULE CLICK HERE for more information! March 26, 2009 Speaker: Paul Metrey NOTE: Please have the publication A Dealer guide to the FTC Red Flags and Address Discrepancy Rules with you during the presentation. A copy has been mailed to all NADA members. If you need to purchase the guide, CLICK HERE. About the Topic: With the FTC's revised May 1, 2009 enforcement date for the FTC Red Flags Rule rapidly approaching, dealers should ensure their required Identity Theft Prevention Programs incorporate all of their covered accounts, include all relevant Red Flags, contain effective response and detection procedures, address all of the rule's other requirements, and are appropriately tailored to their particular operations. This can be challenging as the Red Flags Rule contains general provisions that apply to all types of financial institutions and creditors, not just dealers. To assist you in understanding how the Red Flags and Address Discrepancy Rules apply to dealership operations, NADA has arranged for attorneys from the FTC's Division of Privacy and Identity Protection (which drafted and enforces the Red Flags Rule) to join NADA Regulatory Affairs Director Paul Metrey in a virtual seminar that will examine implementation considerations for dealers. After briefly recapping the required elements of the Red Flags and Address Discrepancy Rules, NADA will open the phone lines so you can present questions directly to the FTC attorneys. Don't miss this valuable opportunity!Registration Fees: The system will automatically determine a registration fee based on your membership status at the time of login:
* * * * * * * * CADA VIRTUAL SEMINAR: EMPLOYER REQUIREMENTS FOR NEW COBRA SUBSIDY Speakers: Penny Wofford, Ford & Harrison LLP CLICK HERE for registration and more information! Tuesday, April 7, 2009 About the Topic: Employer action is required by April 17th, 2009 What You Will Cover:
Who Should Attend:
ALLIED MEMBERS QUICK LUBE - LOSS LEADER OR PROFIT CENTER? In a tough economy, dealers should look to their lube racks. Are you managing your lube rack as the profit center it should be? If not, sales are missed, and the independent fast lube operators are provided with a huge opportunity... Click Here to learn more! For more information contact: Brad Bowers, Terry and Company, P.C. at 866.831.0295 or bbowers@terryandcompany.com 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. To remove yourself from this list, click on this link.
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