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2010 IADA OFFICERS
Chairman
John Wolf
Wolf Chevrolet Sales, Inc.
Belvidere, IL
Vice Chairman
Tim Mooney
Tim Mooney, Inc.
Tuscola
Treasurer
Jim Lombardi
Lombardi Chev Buick
Wilmington
Secretary
Gary Knight
Carmack Car Capitol
Danville
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Your IADA Partner
Moving Vehicle Registration Into The Future
(click logo for more details)
 Your
IADA
Partner
For Insurance Solutions to
Protect Your Dealership
(click logo for more details)
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February 08, 2010 Vol 2010, Issue 2
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UPCOMING INDUSTRY EVENTS
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- Chicago Auto Show sponsored by the Chicago Automobile Trade Association February 12-21, 2010, McCormick Place, Chicago. First Look for Charity Preview Night is Thursday, February 11. What a great way to attend the Chicago Auto Show by attending this gala event which helps 18 significant Chicago area charities in a big way by raising more than $2 million annually, your donation will benefit any or all of them. For additional info check the IADA website at www.illinoisdealers.com and look under the Chicago Auto Show Banner.
- NADA Convention- in Orlando, Florida, February 13-15. Due to the close proximity to IADA’s Spring Meeting in Florida and with the Orlando hotels being spread out, IADA will not be hosting a member reception during this year’s NADA Convention. For additional information go to www.nada.org.
- IADA – CATA SPRING CONFERENCE – March 27-31, 2010, Marriott Marco Island Resort & Spa, Marco Island, Florida. NADA Chairman-elect Ed Tonkin, Ron Tonkin Dealerships, Portland, Oregon, is scheduled to speak during our spring conference. Check our website www.illinoisdealers.com for schedules, registration and transportation information.
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DEALERS WHO HAVE FILED DEALER/MANUFACTURER ARBITRATION
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All dealers who have filed for an arbitration hearing with regards to manufacturer terminations should have received the following notice regarding two conference calls to be updated regarding procedures under the arbitration legislation.
In the event you do not have the call in information please contact IADA at 1-800-252-8944. It is important for participating dealers to participate in this conference call.
Important Notice: Prehearing Administrative Teleconference for Auto Dealer/Manufacturer Arbitrations in Illinois and Wisconsin, on Tuesday, February 9, at 10:00 AM Central Time, or Tuesday, February 9, at 2:00 PM Central Time.
Pursuant to AAA Rules, AAA is conducting an Administrative Conference for Parties and Counsel in the Special Binding Arbitration Program, provided by Section 747, passed by Congress in the Appropriations Bill of 2010, and administered by the AAA.
This conference is for Illinois and Wisconsin Cases. You will be able to listen on your telephone as well as see the presentation online. You can send questions, either beforehand by email, or during the call, by text-entering them on your computer during the conference.
Participants: Parties on cases, Counsel for Dealers and/or Manufacturers
Please do not share the call-in information or the internet sign-on information. It will be confidential for each party participating; no one has to provide personal identification. But to have received this email, you have filed a case or been named on a case.
Purpose of the Conference:
· to discuss administration of the cases
· selection of arbitrators,
· scheduling and locations for hearings,
· exchange of ‘Section 747-required’ information about the case,
· the timeframes in the legislation.
Computer Compatibility: You should test your computer for compatibility with the online conference site. Go to www.yourcall.com and test your specific computer’s compatibility for the webcast portion.
Feb 9, 10:00 AM Central Time – for information contact IADA at 1-800-252-8944.
February 9, 2:00 PM Central Time – for information contact IADA at 1-800-252-8944.
Please feel free to advance email specific questions we should address during the call: DealerArbitration@adr.org. You will also be able to type in questions during the call/webcast. |
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ILLINOIS PRIMARY ELECTIONS
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Voter turnout for the Illinois Primary Elections was one of the lowest in recent history, estimated at below 30%. The City of Chicago Elections put Chicago turnout at under 13%.
On the Democratic side Governor Quinn maintained a 7,000 vote margin and Comptroller Dan Hynes conceded the election on Thursday, trying to unite the Democratic Party under the Governor.
On the Republican side Senator Bill Brady, Bloomington, continues to hold a slight lead of approximately 400 votes over Sen. Kirk Dillard, Hinsdale. It appears at this time Sen. Brady may hold on however a recount may be in the works.
The Lt. Governor position on both sides of the aisle provided some surprises as Scott Lee Cohen (D) Chicago captures the democratic nomination with 26% of the vote. Jason Plummer (R) Edwardsville won the republican nomination narrowly defeating Sen. Matt Murphy. Due to Democratic Party leaders concerns regarding Cohen’s background he announced over the weekend he is pulling out of the race for Lt. Governor.
The U.S. Senate race will feature Congressman Mark Kirk, (R) Highland Park against State Treasurer Alexi Giannoulias (D) Chicago.
Illinois Congressional races provided no upsets and in the Illinois House Rep. Susan Bassi (R-Palatine) was the only incumbent to lose a seat to a primary challenge.
The November General Elections will provide a high profile race for U.S. Senate seat and a stark choice for Governor which may be competitive for the first time in several years due to national election results being experienced across the country. IADA will need your help to be actively involved in the general elections with support of our CAR of Illinois Political Action Committee. |
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CAR OF ILLINOIS POLITICAL ACTION FUND
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Car contributions have been down this past year and to date in 2010. We need to maintain a strong dealer voice in Springfield representing your interests! Please click here to review the CAR Flyer and make sure your dealership is involved in helping IADA at the state capitol. This past year we were successful in making two substantial changes, benefiting dealers, in the Motor Vehicle Franchise Act! Your support is needed! |
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FEDERAL REGULATORY CHANGES UPDATE
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(1) Risk-Based Pricing Rule
Beginning January 1, 2011, if you pull a credit report on one of your customers, you must issue either (1) a risk-based pricing notice to all customers who are offered credit on less favorable terms or (2) an exception notice to all (non-business) credit customers that includes the customer’s credit score and information that explains the credit score. The Federal Reserve Board (FRB) and the Federal Trade Commission (FTC) have created model notice that dealers may use. More information about the Risk-Based Pricing Rule, including model notice forms can be found on the FTC’s website . IADA will provide additional information about the Risk-Based Pricing Rule as the deadline for implementation approaches.
(2) Model Privacy Notice
The FTC has requested that dealers and other financial institutions begin using a new model privacy notice to help customers understand and compare the privacy policies of different financial institutions. Beginning on January 1, 2011, the FTC will no longer accept the current privacy notice that has been in use for 10 years. Instead, starting January 1, 2011 it will require financial institutions to use their updated privacy noticed.
(3) UNICAP Compliance
The IRS has recently adopted a new interpretation of the uniform capitalization (UNICAP) requirements under Section 263A of the Internal Revenue Code. The IRS informed dealers last September that it will suspend new UNICAP audits through December 31, 2010 to give dealers time to come into compliance with IRS Technical Advice Memorandum 200736026. NADA has posted additional information on its website at: www.nada.org/regulations. IADA recommends that you consult with your accountant to make sure that you comply with the IRS’s new interpretation of the INICAP requirements.
(4) Genetic Information Nondiscrimination Act (GINA)
The newly-enacted Genetic Information Nondiscrimination Act (GINA) prohibits discrimination against employees or applicants because of genetic information and prohibits the use of genetic information in employment decisions. GINA also requires employers to include information about GINA in required Equal Employment Opportunity Commission posters. Click here for additional information about GINA, including the new EEOC poster and the supplement for employers who already use the August 2008 poster.
(5) COBRA Subsidy Extension
Recent federal legislation extended the 65% COBRA Subsidy provision originally enacted last February in the federal Stimulus Bill. The new law affects the COBRA subsidy as follows:
- extends from December 31, 2009 to February 28, 2010 the date which involuntarily terminated individuals are eligible for the subsidy;
- extends the maximum subsidy period from 9 months to 15 months;
- gives individuals whose subsidized COBRA coverage has already ended until February 18, 2010 (or 30 days after the required notice is given, whichever is later) to pay the 35% subsidized premium amount and obtain retroactive coverage under subsidized COBRA. If the full premium was already paid for any period after October 31, 2009, the overpayment can be refunded or credited towards future coverage; and
- requires administrators of group health plans to provide a notice describing the foregoing changes to individuals who were eligible for the subsidy or who experienced a COBRA qualifying event at any time on or after October 31, 2009.
If your company takes responsibility for COBRA compliance and issuing COBRA notices (as opposed to contracting it out to a third party or relying on an insurance company), by February 19, 2010 you must: send a notice describing the COBRA changes to all individuals who were eligible for the subsidy or who have experienced or will experience a COBRA qualifying event at any time on or after October 31, 2009 and up until February 28, 2010. This notice should describe:
- the extension of the maximum COBRA subsidy period from 9 months to 15 months;
- the extension to February 28, 2010, of the qualifying date for an involuntary termination entitling the COBRA-qualified beneficiary to the COBRA subsidy as an "assistance-eligible individual";
- the right of qualified beneficiaries whose COBRA terminated after October 31, 2009 (because of a failure to pay the higher, unsubsidized COBRA premium) to reinstate coverage retroactively by paying the subsidized premium (the 35% amount) by February 19, 2010, or by 30 days after the notice is given, whichever is later; and
- the right of assistance-eligible qualified beneficiaries who paid 100% of the premium for COBRA for periods after October 31, 2009, to receive a refund or obtain a credit of the overpaid amount.
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STATE REGULATION
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Two new state laws place restrictions on the use of cell phones and text messaging devices while operating a motor vehicle. You may wish to inform any of your employees who drive dealership vehicles of this new limitation on the use of cell phones end electronic devices.
Text Messaging while Driving Prohibited
Illinois Public Act 96-130 prohibits operating a motor vehicle while reading, composing, or sending an electronic message. Examples of prohibited electronic messages include, but are not limited to, e-mails, text messages, instant messages, and commands or requests to access internet sites. Public Act 96-130 does permit the use of hands-free and voice-activated devices as well as global positioning and navigation systems. Click to view the full text of Public Act 96-130.
Cell Phone Usage Prohibited in School Zones and Construction Zones
Illinois Public Act 96-131 prohibits drivers from using cell phones while driving in school speed zones and in highway construction and maintenance speed zones. The new legislation does make an exception for the use of a cell phone in voice-activated mode. Click to view the full text of Public Act 96-131. |
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