DECEMBER 29, 2009


IN THIS ISSUE

DEALER NEWS & INFORMATION

Automotive News at a Glance

 

REGULATORY & LEGAL UPDATES

Uniform Consumer Credit Code - Notification Filing and Fees Mandatory For Dealers as of January 1, 2010

New Regulatory / Legal Topics Index Page

 

LEGISLATIVE UPDATE

Several Measures Moving Forward For 2010 Ballot

 

UPCOMING SEMINARS

Upcoming Seminars


CALENDAR OF EVENTS
Upcoming Events

Dealer Friday Morning at the Capitol

Legislative Policy Committee Meeting

NADA Convention and Exposition

Denver Auto Show

CADA 2010 Annual Golf Tournament


DEALER MILESTONES,
HIGHLIGHTS & TRANSITIONS

Ethel Maxine Nichols Passes Away

Share Your Accomplishments

 

THE AFTERFACT

All the News That's Fit to Email!


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

CLICK HERE for a CADA staff listing


If you have questions
or suggestions
regarding this
e-newsletter, please
contact Lauren Stadler at
lauren.stadler@coloradodealers.org

CLICK HERE or scroll to the bottom
of this page if you want to be
added or removed from our list.


Need Acrobat Reader
to view linked
documents?
CLICK HERE for a FREE
download from Adobe.


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 toaccess the web-based version.




CLICK HERE to read the entire article!


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.


UNIFORM CONSUMER CREDIT CODE - NOTIFICATION FILING AND FEES MANDATORY FOR DEALERS AS OF JANUARY 1, 2010.

The Colorado Uniform Consumer Credit Code (UCCC) is a state law that regulates the terms and conditions of consumer credit in the State of Colorado. It sets maximum rates and charges for some fees, requires disclosure of the cost of credit so consumers may shop for the best rates, and provides remedies for consumers on default.

Dealerships, as retail merchants that regularly extend consumer credit and "arrange financing," are included in the UCCC requirement to annually file with the state.  The UCCC is enforced by an Administrator within the Attorney General’s office.

New law goes into effect this next year so that ALL “creditors” (which includes dealerships that arrange financing) MUST file a notification form and fee with the state, regardless of how long any paper is held.  The previously hard-to-determine volume fee has also been eliminated, with one, flat notice fee of $50.00.   

Below are prior Open Road articles with more information on advertising requirements.   

Download the memo regarding this change, and the revised notice form
The filing fee is due by January 31, 2009 (there is a 30-day grace period; late fees of $5.00/day apply as of March 1st).

CLICK HERE to link to the state Attorney General Uniform Consumer Credit Code page.

Visit the prior Open Road article for background information on this topic:
July, 2, 2008, Open Road, Regulatory & Legal Updates, Colorado Consumer Credit Code; Dealerships May Need to Register with State

* * * * * * * *

NEW REGULATORY / LEGAL TOPICS INDEX PAGE

New Regulatory / Legal Topics Index Page
A web-based version of all Open Road regulatory / legal articles has been added to the CADA web site; articles are sorted by topic, a direct link to that issue is available from the index, and all of the articles will now be searchable from CADA’s main web site (www.coloradodealers.org) search functions. 

Visit:
www.cadaopenroad.org

* * * * * * * *

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


aa
SEVERAL MEASURES MOVING FORWARD FOR 2010 BALLOT
Proposition 101, Amendments 60 and 61

Information provided by the Economic Development Council of Colorado

Last spring, proponents of three ballot initiatives filed the required paperwork with the Office of Legislative Council and subsequently with the Colorado Secretary of State to put these initiatives on the November, 2010 general election ballot.  At the time, these were labeled Initiatives #10, #12, and #21.  

After setting of the respective titles of the three initiatives and approval of the petition format by the Secretary of State, the proponents then were required to gather signatures of at least 76,047 qualified Colorado voters (5% of the total number of votes cast in the last general election for the office of Secretary of State).  Proponents turned in petitions with about 140,000 signatures for each of the initiatives and in early December, Colorado Secretary of State Bernie Buescher certified the three measures for next fall's ballot. 

Proposition 101 is a statutory change that will drop motor vehicle registration fees to $10 per year and lower the state income tax rate from the current 4.63% to 3.5%.  It is estimated that this would cause state revenues to drop an additional $1.2 billion.  It should also be noted that a large portion of the Highway Users Trust Fund, used for maintenance and construction of the state's highways, is funded from motor vehicle registration fees.  (Note:  Beginning in 2010, statutory changes will be labeled "Proposition" and constitutional changes will be labeled "Amendment").

Amendment 60 is a constitutional change that will make significant changes in property tax law.  It appears that the numerous "de-Brucing" elections that have successfully passed since 1992 will be overturned and phased out, having a huge impact on local governments and school districts.  This in turn would have a disastrous impact on the state budget because of the required state backfill to local K-12 districts.

Amendment 61 is a constitutional change that will prohibit any debt financing by the state or any local government, regardless of enterprise status, without voter approval and would require that any existing debt be paid.  This is important in that many local and state-owned buildings and structures are financed with certificates of participation, which require an annual appropriation, but allow schools, libraries, prisons and college buildings to be constructed and paid for over time.

Proponents of the three measures have remained very much "under the radar" and with the exception of long-time lobbyist Freda Poundstone, are generally unknown.  The wording of the initiatives, however, does seem to be consistent with similar initiatives we have seen over the past 20 years from tax crusader Doug Bruce.

* * * * * * * *

Questions or Comments?  Please contact:


a

* * * * * * * *

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

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

Employment Law WEBINAR:
Reducing Lawsuit Risks of Terminations and Staff Reductions

By Todd Fredrickson, top Denver employment attorney, Fisher & Phillips, LLP

Archive of this webinar can be viewed any time

Session was completed June 18, 2009

Click here for a registration form and more information (login information and slides provided upon registration)

-Includes detailed Q &A by those linked in on June 18th


Event Description
Date/Time
Location

Legislative Policy Committee Meeting

Jan. 7, 2010

7:30 a.m.

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

Dealer Friday Morning at the Capitol

Jan. 29, 2010

7:15am to 10:00am

Colorado Capitol, House Hearing Room #107 (basement level, enter South ground level door)

NADA Convention & Exposition

Feb. 13-15, 2010

Orange County Convention Center, Orlando FL

CLICK HERE for more information from the official website.





Wednesday, April 7, 2010

thru  

Sunday, April 11, 2010

Colorado Convention Center

700 14th Street Denver 80202

CLICK HERE for more information.

CADA 2010 Annual Golf Tournament

SAVE THE DATE!

Monday, August 9, 2010

11:00am-11:45am Registration/Practice

12:00 Noon – Shotgun Start

Lakewood Country Club
6800 W. 10th Avenue
Lakewood, CO  80214



ETHEL MAXINE NICHOLS PASSES AWAY

Ethyl is the mother of CADA chair, Nancy Ariano, New Country Auto Center, Durango and Cortez.

Durango native Ethel Maxine Nichols died Thursday, Dec. 24, 2009, in Durango. She was 87.

Mrs. Nichols was born to Fred and Ruth McLaughlin on Sept. 27, 1922, in Durango. She grew up in Durango and graduated from Durango High School. Until the last few years, she had been active in organizing class reunions.

On April 18, 1940, she married Harold Nichols in Durango.

Her family said Mrs. Nichols was a homemaker who loved being with her family and was involved in the community. When her children were young, she was active with the PTA and was a member of several auxiliaries and homemaking clubs.

Her family said she was a great cook, an avid knitter and enjoyed sewing.

Mrs. Nichols was preceded in death by her husband of 53 years, Harold Nichols; sons Tommy Nichols and John Nichols; and grandson Eric Prior.

She is survived by her sons Jerry Nichols and Paul Nichols, both of Durango; daughters Nancy Ariano of Durango and Judy Prior of Powell, Wyo.; sisters Dorothy Gardner of Durango and Eleanor Wildes of Jacksonville, Fla.; seven grandchildren; and seven great-grandchildren.

Visitation will be held from 2 to 5 p.m. Sunday, Dec. 27, 2009, at Hood Mortuary Chapel. A funeral will take place at 2 p.m. Monday, Dec. 28, 2009, at St. Mark's Episcopal Church. The Rev. Andrew Cooley will officiate. Burial will occur at Greenmount Cemetery.

In lieu of flowers, memorial contributions may be sent to Hospice of Mercy, 1 Mercado St., Suite 270, Durango, CO 81301.

* * * * * * * *

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

  • Auto sales in rural markets boost China to No. 1
    The Detroit News, December 22
    Minivan salesman Zhu Yi has a problem that most auto dealers elsewhere would happily swap for their own -- he doesn't have enough vehicles to satisfy customer demand.
  • In Risky Move, GM to Run Plants Around Clock
    The Wall Street Journal, December 20
    Starting Jan. 4, General Motors Co. plans to do something unprecedented in the U.S. car industry: It will run its assembly line here around the clock on a permanent basis.
  • Toyota Revs Up Cost Cuts
    The Wall Street Journal, December 22
    Under pressure from a second straight year of losses, Toyota Motor Corp. is making a renewed push to produce cars more efficiently and at lower costs, as part of the auto company's efforts to return to profitability despite a stronger yen and waning government incentives in key markets.
  • GM aims to make more with less space at 2010 Detroit Auto Show
    Detroit Free Press, December 23
    General Motors Co. will give its four surviving brands more breathing space in its first Detroit auto show since emerging from its Chapter 11 bankruptcy restructuring, according to company officials who gave a preview of their exhibit plans at Cobo Center today.
  • TRW Automotive secures $400 million in term loans
    Forbes, December 22
    Auto parts supplier TRW Automotive Holdings Corp. on Tuesday said it secured $400 million through two new term loans and reached a deal on its revolving credit facility.

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

To remove yourself from this list, click on this link.

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