February 14, 2007
Volume #1, Issue #7

  DEALER NEWS
     - Lisa Schomp Selected as
       TMQDA Top 5 Finalist

  REGULATORY UPDATES
     - Online salesperson licensing now
       available for dealers

  UPCOMING SEMINARS
     - Unclaimed Property Compliance
       Seminar
     - Risk Manager Seminar

  DEALER MILESTONES,
     HIGHLIGHTS & TRANSITIONS
     - Fourth Quarter 2006 Colorado
       Auto Outlook Report

    Click here for Open Road archives.

 www.nada.org
 

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contact Tim Jackson at tim.jackson@cadaonline.org 

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CLICK here to view Governor Ritter’s letter regarding his veto.

LISA SCHOMP SELECTED AS A TMQDA TOP 5 FINALIST

Lisa Schomp, was named one as of the top five finalists of the prestigious TIME Magazine Quality Dealer Award (TMQDA) this year. We are honored that our Colorado nominee was named to this extremely select group—out of sixty dealers nominated from more than 19,500 nationwide.

CLICK HERE to review the press release.

TIME Magazine Quality Dealer Award finalist Lisa J. Schomp, seated (with from left to right); Farhad Fozounmayeh, Los Angeles Account Executive, TIME Magazine; Tim Jackson, President, Colorado Automobile Dealers Association; and Ed Huffman, Original Equipment Account Manager, The Goodyear Tire & Rubber Company.

Online salesperson licensing now available for dealers

The Online Salesperson Licensing service is now available to Colorado dealerships. This effort was initially begun over a year ago by CADA and CIADA working directly with Auto Industry Division. The application development was subsequently moved over to the State Internet Portal Authority (SIPA) in order to establish the necessary links to state payment and accounting processes. If you have not already received a letter from the state, you should be receiving their announcement this week

This online service will enable your dealership to apply for new salesperson licenses online—and receive a temporary license number and letter immediately. You will also be able to receive notification of upcoming renewals and the ability to add or remove a salesperson.

In order to utilize the service, dealerships must first register with Colorado.gov at the following: www.Colorado.gov/registration. You will need to complete the overall Registration Agreement and also the Service Specific Addendum for Auto Industry Sales Licenses. There is a $75 annual fee to be a registered user of all Colorado.gov online services.

Once your dealership is registered, the online application is available at the following secured, password-protected website: www.Colorado.gov/saleslicense.

In general, your salespersons must still complete and sign the hard copy form DR 2115 (WEB-version of this form available from within the application once you obtain your ID and password). Someone authorized at your dealership will then input the information to obtain the temporary license number and letter immediately.

Future developments of this new online service will include the ability to renew online, reissues and transferring a license to another dealership. As you begin to utilize this online service, if you have suggestions on future improvements, please contact CADA; we will work with both Auto Industry Division and Colorado.gov on enhancements.

You may contact Tammi McCoy at CADA, tammi.mccoy@cadaonline.org, 303.282.1449 with any questions or concerns. For questions about technical issues related to the service, call 1 (800) 970-3468  or visit:  http://www.colorado.gov (under the “Help Center” on the right you can submit questions using the “Feedback” option, or obtain “Live Help”.

unclaimed property compliance seminar

The Colorado Office of the Treasurer compliance/audit personnel will review Colorado unclaimed Property Laws and Regulations.

• Colorado Unclaimed Property Act has covered automobile retailers since 1992

• Avoid embarrassing fines and penalties by taking advantage of this seminar

Businesses in Colorado must take specific steps to return “unclaimed property”:

• Learn what is covered, what steps you must take, and the annual reporting requirements

• Covered property must be turned over to the state if not returned to the rightful owner

• In general, “unclaimed property” includes various types of obligations or liabilities of a business which have been in active or have not been paid after an extended period of time after they are payable.  Examples include: 

• Amounts owed to suppliers/vendors

• Payroll/wage obligations

• Stale, outstanding checks

• Overpayments/refunds/rebates

• Security or other deposits

• Credit checks or memos

• Uncollected referral fees

• Due bills / We Owe Accounts (for parts, service, equipment ordered
  at the time of vehicle sale)

• Loan collateral

• Dividends or Interest

• Matured insurance policy proceeds

   Please CLICK HERE for more information on this seminar.  Register for this seminar by returning the attached registration form or clicking on the respective link below.
 

*Breakfast or lunch will be provided.

 * * * * * * *

designated risk manager seminar
unique opportunity presented by cada endorsed provider

Federated Insurance brings its popular, customized training session to Colorado

• Local opportunity to attend this comprehensive Risk Management seminar

• Condensed one-day session of a 2 ½-day seminar typically held only at Federated HQ’s

CADA, in conjunction with Federated, will be hosting a Designated Risk Management Seminar.  This comprehensive seminar will be limited to twenty dealers, each of whom, after providing the requisite information, will be provided with comprehensive and customized materials at the seminar in April. 
 

   Please CLICK HERE for more information and to register for this event.

Fourth Quarter 2006 Colorado Auto Outlook Report

The Fourth Quarter 2006, year-end version of the Colorado Auto Outlook is now available.

   Please CLICK HERE  to view the full report.
 

If you want to be added to our mailing list, please email openroad@cadaonline.org and type ADD in the subject line.  Thanks!
 

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