MADA Celebrates 100 Years!  

MADA members came together on Saturday, November 13, 2010 to celebrate our 100th Anniversary as an Association.  It was truly a momentous occasion!  Featured at the entrance to the Westin Annapolis Hotel were a 1910 International Harvester and a 2010 Chevrolet Corvette.  You couldn't have chosen a greater dichotomy and the pair set the stage for the events to come!

While guests enjoyed a cocktail reception they had the opportunity to peruse old photographs and publicity and programs from decades-past Baltimore Auto Shows.  An elegant and delicious dinner followed inside the ballroom.  After dinner, we enjoyed a video commemorating our 100 years of history and service to Maryland's franchised dealers and their customers.  The video also highlighted our long past of supporting very worthwhile programs such as Shock Trauma  and the Maryland Teacher of the Year program.  Dr. Darla Strouse from the State Department of Education spoke on behalf of all teachers and thanked guests for their support of Maryland's public educational system.  We also received a special commendation from the Governor's office. 

Following the look into our past, we moved on to the future of the Association, in particular a focus on our newly formed charitable foundation.  Sam Weaver introduced the Foundation and was overjoyed to announce that we have raised almost $100,000 in just the first few months after creating the new Foundation.  We must extend many, many thanks to everyone who made a generous donation to the Foundation.  If you would like to make a contribution, you may do so via the following download form. 

As part of the evening's celebration, we also honored our first inductee into the Maryland Automobile Hall of Fame.  Wilson Howes, a former owner of Honda and Kia franchises in Hagerstown, was inducted in honor of his long history of service to both our local and the international automobile industry.  Wilson served on the MADA Board of Directors and also participated on the National Dealer Election Council.  We also honored Wilson for his service to his country and his community.  Wilson's widow, Mary, accepted the award on his behalf. 

After all of the commendation and honor, we closed the night off with a bang!  Guests enjoyed dancing and the spectacular singing and showmanship of Doc Scantlin and his Imperial Palms Orchestra. 

We thank all of our members who joined us to celebrate this milestone and those who made a financial contribution to support the new Foundation.  We find strength in numbers! 

MADA members are reminded of a new regulation, taking effect January 1, 2011, adopted under the Fair and Accurate Credit Transaction Act (FACTA) which will require all financial institutions, including dealerships, to give their finance customers a new "Risk-Based Pricing Notice." Under this new rule, whenever a customer is offered financing at an APR that is higher than the "best rate" that is offered to customers with higher credit scores, the customer must be given a "Risk-Based Pricing Notice" explaining that they are getting a higher interest rate because of their poor credit rating. This new rule sets forth complicated requirements for the form, content and timing of this notice, as well as the division of responsibility between an originating lender, such as an automotive dealership, and the institutional lender who acquires the loan.