BOTH SIDES OF THE COIN

Colorado Automotive Retailers (CAR) and our cooperative coalition of auto industry representatives have secured strong support from both Republicans and Democrats
on SB-221, the ten-year Sunset Review of the Motor Vehicle Dealer Board (MVDB.) 

As previously noted, Senator Ken Kester, a former auto dealer, is set to offer an amendment that would retain the makeup of the MVDB in its current composition.
In fact, Kester was so adamant about supporting it, he was mistakenly sure it passed
in committee. When corrected on the status, Senator Kester was quick to step up to sponsor the amendment.

Our main emphasis is approaching both Democrats and Republicans and avoiding the possibility of a partisan battle.  At this time, it seems to be successful as legislators on both sides are reasonably open to retaining the current board make-up.

  CLICK HERE to read this informative article by CAR lobbyist Jeremy Cottrell. 
 

CUSTOMER CREDIT INFORMATION ACCEPTED OVER THE INTERNET MUST BE SECURE

The National Automobile Dealers Association (NADA) has asked CADA to inform members that the Federal Trade Commission (FTC) is reportedly investigating a dealership that obtained online credit applications on a secure portion of the dealership’s website and allegedly failed to secure the personal information contained when e-mailing it to others in unencrypted text.

Dealers are reminded that the FTC Safeguards Rule requires that dealerships protect not only customer information that is physically maintained within the dealership, but also customer information that dealers “access, collect, distribute, process, protect, store, use, transmit, dispose of, or otherwise handle…”

It is recommended that dealers consult NADA’s publication,
“A Dealer Guide to Safeguarding Customer Information”, for guidance in each of these areas, including the following that addresses the specific occurrence referenced above:

“[With regard to] the transmission of customer credit applications over the Internet, you should ensure that the program application you use encrypts the data or otherwise transmits it in a secure manner to the bank or finance company. If you are submitting the customer’s application over the Internet, you should ensure that the information displayed on your computer screen is not visible to others who are not authorized to have access to this information.”

NOTE:  This NADA publication will be made available as part of the seminar handouts to
all participants in CADA’s Privacy /Safeguards seminars being offered April 26 and 27.  See Training Seminar calendar below for more details.

Dealers are also encouraged to review the FTC’s latest publication entitled, “Financial Institutions and Customer Information: Complying with the Safeguards Rule.”  This publication is available online at www.ftc.gov/bcp/conline/pubs/buspubs/safeguards.pdf or CLICK HERE to download.

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privacy laws & regulations:  an overview

There are many different privacy-related laws and regulations with which auto dealers must ensure compliance.  The attached article is an excellent synopsis of the key federal requirements – authored by an attorney with significant experience in the areas of dealer, credit and privacy laws.

  CLICK HERE  to view the article reprint from the monthly
newsletter of  CounselorLibrary.Com, LLC, by Patricia
E.M. Covington, a partner in the Maryland office of
Hudson Cook, LLP. 

To subscribe to their newsletter directly, or for additional publications such as CARLAW^® F&I Legal Desk Book or CARLAW^®, see www.counselorlibrary.com/public/products.cfm.
 

If you have additional questions on any legal or regulatory topics, please contact either Tammi McCoy or Tim Jackson:

• Tim Jackson, President, tim.jackson@cadaonline.org, 303.282.1448

• Tammi McCoy, VP, tammi.mccoy@cadaonline.org, 303.282.1449

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NADA COMPENSATION SURVEY: DEALER PARTICIPATION REQUESTED BY APRIL 1

CADA has elected to participate in an NADA-sponsored dealership compensation survey this year. We strongly encourage you to participate in this survey designed to collect compensation and benefits data for key dealership employees.  

In 2005 more than 3,700 dealers from 71 state and local associations participated in this survey and the results were published in the NADA Management Guide “PF14 Paying to Motivate Update ‘05”. The results of this year’s survey, published as “PF15 – Paying to Motivate Update ‘07”, 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 $75 each and will be available in late summer.  

In the past, the survey has been done by paper and mailed back to NADA. This year the data will also be collected on a secure web site using a unique and anonymous “Key ID”.** If you do not wish to complete the survey online, please print the  PDF form provided below. You may also want to use this form as a worksheet before you enter your data online. If you have any problems entering the data online, you may fax the completed form back to NADA at 703.827.6880. Please enter the Colorado Association ID code [060] on the faxed forms. 

RESPONSES ARE DUE online or by fax to NADA by April 1, 2007.

When filling out the survey, use figures as reported on the 2006 W-2 forms. Include any elected salary deferrals made by the employee that may not be identified on the W-2 form.

To complete this survey ONLINE, please CLICK HERE.

To complete this survey via FAX, please CLICK HERE for the survey form and fax back to NADA at 703.827.6880.   Note that this is a large .pdf file and may take some time to download depending on your connection speed, so please be patient.

NOTES:

* In order to receive your FREE copy of “Paying to Motivate Update ‘07” you MUST print and fax the coupon provided on the web site.
 

** The National Automobile Dealers Association (NADA) is serving as the survey processor.

This survey is in addition to the Colorado-specific and more in-depth compensation survey that CADA conducts—in conjunction with Mountain States Employers Council—on behalf of Colorado dealerships.

how to create a super controller

This is a must-attend event for controllers, comptrollers, CFO's, general manager and office managers, who need to move from everyday "bean counting" methods to mastering power controller techniques that increase efficiencies, save time and drive profits.

Denver Session:
Thursday, July 26, 8 to 11 am, William D. Barrow Building (CADA/MDADA headquarters), 290 E. Speer, (SW Corner of Grant & Speer)

CLICK HERE for more information and to register.

Grand Junction Session:
Friday, July 27, 8 to 11 am, Doubletree Hotel, 743 Horizon Drive, 970.241.8888

CLICK HERE for more information and to register.

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unclaimed property compliance seminar

The Colorado Office of the Treasurer compliance/audit personnel will review Colorado unclaimed Property Laws and Regulations. The Colorado Unclaimed Property Act has covered automobile retailers since 1992

• Begin your annual reporting obligation now; penalties and interest will be waived

• Businesses in Colorado must take specific steps to return “unclaimed property”; covered property not returned to the rightful owner must be turned over to the state

• 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, Due Bills / We Owe Accounts (for parts, service, equipment ordered at the time of vehicle sale) Payroll/wage obligations, outstanding checks, Overpayments/refunds/rebates, or security or other deposits

• Free reporting software from a third party is available from the state for reporting purposes; a representative will review and demo the software capabilities

• Some dealerships or individuals attending may have “found” property at the state; they will check their records for all seminar attendees

   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.

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other SCHEDULED TRAINING seminars

upcoming events for 2007

DOMINGUEZ HONORED AS WOMAN OF THE YEAR