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Visit Our Website
www.IllinoisDealers.com
Join our mailing list!
Do you know of other member dealership employees who should be receiving the IADA Electronic Bulletins? Let us know! Send an email to Meghan Sander (msander@illinoisdealers.com), Director of Communication, with the contact information of people who should be on our distribution list.
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2013 IADA OFFICERS
Chairman
Gary Knight
Carmack Car Capitol
Danville
Vice Chairman
Mike Mangold
Mangold Ford
Eureka
Treasurer
Dave Taylor
Taylor Chrysler Dodge & Jeep, Inc.
Bourbonnais
Secretary
Sam Roberts
Roberts Motors, Inc.
Alton
President
Peter Sander
IADA
Springfield
IADA Staff Contacts:
Ph# 1-800-252-8944
Pete Sander
President
Ext. 103
psander@illinoisdealers.com
Larry Doll
Legal
Ext. 105
ldoll@illinoisdealers.com
Mark Harting
Administrative Services
Ext. 110
mharting@illinoisdealers.com
Mike Healey
Member Services
Ext. 107
mhealey@illinoisdealers.com
Joe McMahon
Legislative
Ext. 113
jmcmahon@illinoisdealers.com
Meghan Sander
Member Communications
Ext. 109
msander@illinoisdealers.com
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Your
IADA
Partner
Moving Vehicle Registration Into The Future
(click logo for more details)
Upcoming Webinars
July 16th
Sandi Jerome
How Lead Controllers & CFOs Can Master the Management of Multiple Dealer Group Locati
(12 PM CST)
Click here to register!
July 18th
Jim Flint
How to Avoid the Bermuda Triangle of Advertising Expense in Your Dealership or Group (12 PM CST)
Click here to register!
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July 11th
Trevor Stage
Summer Safety Topics for Dealerships (11 AM CST)
Click here to register!
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July 10, 2013 Vol 2013, Issue 13
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NADA DIRECTOR'S COLUMN
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NADA Update (July 2013) Jamie Auffenberg Jr., St.Clair Auto Mall, O'Fallon, IL
HOUSE FINANCIAL SERVICES REPUBLICANS SEEK INFORMATION FROM CFPB ON AUTO LENDING GUIDANCE
CFPB Responds to Letter from House Democrats
Led by Rep. Spencer Bachus (R-Ala.), 35 Republicans, including 27 members of the House Financial Services Committee, sent a letter to the Consumer Financial Protection Bureau (CFPB) regarding its March 21 fair lending guidance. The letter requests all relevant documentation supporting the CFPB’s assertion that there may be disparate impact discrimination in indirect auto financing. The letter also requests the studies the CFPB relied on to support its attempt to pressure indirect finance sources to compensate dealers for arranging financing with a flat fee instead of allowing consumers to negotiate competitive rates with dealers.
This letter follows a separate letter from 13 Financial Services Committee Democrats, led by Rep. Terri Sewell (D-Ala.) also seeking information from the Bureau on the March guidance. Combined, the signers of the two letters represent a majority of the Financial Services Committee. CFPB Director Richard Cordray responded to the Sewell letter providing virtually no new information on the background information and methodology to explain the Bureau’s conclusions, despite a specific request. Click here for the letter from CFPB Director Cordray.
The other Republican signers of the Bachus letter are Reps. Michele Bachmann (Minn.), Andy Barr (Ky.), John Campbell (Calif.), Shelley Moore Capito (W.Va.), Tom Cotton (Ark.), Sean Duffy (Wis.), Stephen Fincher (Tenn.), Scott Garrett (N.J.), Michael Grimm (N.Y.), George Holding (N.C.), Bill Huizenga (Mich.), Robert Hurt (Va.), Walter Jones (N.C.), Peter King (N.Y.), Steve King (Iowa), Jack Kingston (Ga.), Tom Latham (Iowa), Blaine Luetkemeyer (Mo.), Tom Marino (Pa.), Patrick McHenry (N.C.), Mark Meadows (N.C.), Gary Miller (Calif.), Mick Mulvaney (S.C.), Randy Neugebauer (Texas), Steve Pearce (N.M.), Robert Pittenger (N.C.), Dennis Ross (Fla.), Keith Rothfus (Pa.), Ed Royce (Calif.), Steve Stivers (Ohio), Steve Stockman (Texas), Marlin Stutzman (Ind.), Ann Wagner (Mo.) and Lynn Westmoreland (Ga.).
Click here for the Bachus letter.
Click here for a complete copy of the NADA Update including the following topics:
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NADA Data: Jobs and Payroll Up at New-Car Dealerships
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NADA Moves Dates for 2015 – 2018 Conventions
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NADA: Prices of Used Plug-in Electric Vehicles to Drop 30% in 2013
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OSHA Targeting Dealerships
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HOME CURRENCY PAY WITH GLOBAL PAYMENTS
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Believe it or not, many auto dealerships accept credit cards that are not from the U.S. Merchants must pay hefty cross border fees on these foreign credit card transactions. With HomeCurrencyPay, the merchant can actually make money off of these same transactions if they have HomeCurrencyPay with GlobalPayments.
• Generate merchant revenue with every transaction
• No set-up fee or ongoing fees
• Simple reconciliation in U.S. Dollars
• Easily process transactions in the international cardholder’s home currency
Click here to see more information on HomeCurrencyPay.
ATTRACT INTERNATIONAL CUSTOMERS AND IMPROVE YOUR PROFITABILITY!
For more information, please contact:
Lorrie Johnson, Lorrie.Johnson@globalpay.com
U.S. Sales Direct
globalpayments
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LEGAL ALERT: CLASSIFIEDRIDE
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IADA has recently become aware of a company called ClassifiedRide, which is sending a solicitation to dealers to sign up for the company’s internet vehicle listing service. The solicitation includes what purports to be an invoice even though many of the recipients have not signed up with the company.
IADA is not making any recommendations regarding the quality of ClassifiedRide’s product or whether you should or should not do business with them. In fact, several IADA members use ClassifiedRide to advertise vehicles. However, if you receive this solicitation or one like it, we urge to make sure that you do not blindly pay an “invoice” for a product or service that you are not interested in using. If you have any questions about this article, please feel free to contact IADA at (217) 753-0220.
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LIMITED TIME ENVIRONMENT & SAFETY INTRODUCTORY OFFER FROM KPA - EXPIRES July 31, 2013
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KPA Facility Compliance Evaluation Offer for IADA members
KPA is extending a limited time offer to IADA members who want to have their dealership assessed in the areas of environment and safety compliance. An endorsed IADA partner, KPA offers Environment & Safety compliance to dealers.
KPA will conduct an on-site evaluation at a dealer’s facility to assess the compliance status in respect to the following areas:
• Hazard Communication (Right-to-Know)
• Safety & Injury Prevention Program
• Personal Protective Equipment
• Emergency Response
• DOT Hazardous Material Certification
• Hazardous Waste Handling
• Forklift Safety
• Respiratory Protection
KPA is offering this one-time purchase for Illinois dealers that are not existing KPA Environment & Safety clients.
After the initial evaluation, KPA will deliver and discuss the report findings with the dealership management team, listing compliance issues observed during the inspection.
The fee for this limited time evaluation is $700, which will be credited back to the dealership if the dealership chooses to purchase a full Environment & Safety services agreement with KPA. The amount will be credited back once a full service agreement has been initiated and the terms of service agreement has been signed.
Make sure your dealership knows all areas of compliance concerns! Offer expires July 31, 2013.
Contact KPA Account Executive – Richard Battenberg to discuss a facility compliance evaluation @ 314.303.8896 or rbattenberg@kpaonline.com.
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ILLINOIS DEALERS IN THE NEWS
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Click here for lastest issue of the IADA Roadrunner.
We encourage you to share your latest news with fellow IADA dealers. To be featured in the IADA Roadrunner, please email Meghan Sander, msander@illinoisdealers.com. |
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HEALTH CARE REFORM: IRS ANNOUNCES ONE YEAR DELAY OF FREE RIDER PENALTY AND EMPLOYER REPORTING
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Yesterday the IRS announced a one-year delay in the reports that most employers will be required to submit to the IRS. Employers were initially required to start capturing coverage information starting January 1, 2014 with the first reports due in January 2015. Under Health Care Reform, employers will have to report significant amounts of information on their plans and employees. One of the primary purposes of the reporting is to help enforce the Free Rider Penalty. Under that rule (also called the employer shared responsibility requirement), originally effective January 1, 2014, employers with 50+ full-time equivalent employees who either fail to offer coverage to substantially all full-time employees (and their dependents), or who offer coverage that is inadequate or unaffordable, and have at least one employee enroll in Exchange coverage and qualify for a premium tax credit would have to pay a penalty tax. Because of the delayed reporting, the IRS also delayed application of the Free Rider Penalty until 2015.
This change leaves employers with many open questions. The IRS expects to issue guidance on the reporting this summer.
No Changes to Other Health Care Reform Requirements
None of the other Health Care Reform requirements have been delayed. For example, the Exchanges and availability of federal premium tax credits will still take effect January 1, 2014 as scheduled. This means that employers will need to communicate to employees and the Exchanges whether employer coverage is adequate and/or affordable. The PCORI (or CER) fee is still due for many employers by July 31, 2013 (by filing Tax Form 720). Employers are still required to send Exchange notices to all employees (not just benefits eligible employees) by October 1, 2013 to inform them about the availability for Exchange Coverage. The plan design mandates are all still scheduled to take effect for plan years beginning on or after January 1, 2014. These are only a few examples of the provisions with effective dates around the corner.
What Does All of This Mean for Employers?
Click here to continue reading.
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NOMINATE A COLLEAGUE FOR THE TIME MAGAZINE QUALITY DEALER AWARD
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Nominations are being accepted for the 2014 Illinois TIME Magazine Quality Dealer Award nominee and Illinois Dealer of the Year.
The TIME Dealer of the Year program honors new-car dealers in America who exhibit exceptional performance in their dealerships and perform distinguished community service. The dealer must demonstrate strong ethics, be active in his or her community, give generously of time and talents to charitable causes, and be the designated dealer principal of an IADA and NADA member. To nominate someone for this prestigious award, please see the attached form to nominate a deserving dealer.
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SAVE THE DATE - IADA/CATA 2014 SPRING CONFERENCE!
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Please save the date for the IADA/CATA Annual Spring Conference! It will be held March 30, 2014 - April 3, 2014 at the Atlantis in the Bahamas. A U.S. Passport is required for travel in the Bahamas. Click here for information on acquiring or renewing your passport. More information coming soon.
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