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Greetings!

Welcome to the latest installment of IADA's e-news, containing timely updates, information, announcements and reminders. We welcome your suggestions and contributions.  For further information and updates regarding the Idaho Automobile Dealers Association please visit our website at www.idahoada.org.

UPDATE YOU CONTACT INFORMATION

IADA would like your help to make sure our membership directory is as current as possible.  If you have changes to be made to your contact information, please contact Jocelyn Francis at info@idahoada.org or call 208 853-4668.  Please provide the following dealership updates.

  • Principal name(s)
  • General manager
  • Physical address
  • Phone and fax numbers
  • Web site
  • Franchise(s)
Thank you,

IADA Staff-
ECONOMY WATCH 
 
December 2008 Idaho Outlook Publication

December's Idaho Outlook is now available on the Division of Financial Management's website.
CLICK HERE to read. 
 
AUTOMOTIVE NEWS AT A GLANCE

Listed here are several articles pertaining to the auto industry that appeared recently in newspapers and other media outlets across the nation.  

LEGISLATIVE UPDATES
 
IDAHO LEGISLATURE 
 
The past few weeks the Idaho Legislature placed a major 
focus on transportation, and most importantly the audit 
of the Idaho Transportation Department (ITD) by the Office
of Performance Evaluations.  This audit and evaluation 
was approved by the Idaho Legislature last year, in an 
effort to determine if ITD was spending taxpayers' dollars 
wisely.  This evaluation will give the Idaho Legislature 
important information to move into the 2009 legislative  session and in making decisions on transportation funding.
 
Following the release of the evaluation results the 
transportation committee held a hearing to discuss 
the next steps to take.  The goal of this audit was to 
find cost savings, and to provide a plan to continue cost 
savings in years to come.  As you can imagine, with 
5,000 miles of highways in Idaho there is a lot of work 
that goes into supporting and maintaining our Idaho 
roads.  As the legislature moves  into setting the 
budget for FY2010 they will be taking into consideration 
the findings of this audit, some of which would provide 
potential one time cost savings of $19.6 million. Most importantly, the audit process determined that 
ITD has insufficient funds to preserve state highways.  
 
OTHER NEWS 
 
On Wednesday the Senate Health and Welfare 
Committee heard presentations on Medicaid Enhanced 
Plan Benefits.  This will be an ongoing discussion in the 
upcoming weeks as legislators take into consideration Governor Otter's proposal to appropriate $366.6 million 
to try to find financial solutions in this tough economic 
climate. 
 
It has been a fast paced and productive two weeks in the 
Idaho Legislature, and I will continue to keep you 
informed of important information and legislation in the 
upcoming weeks. 

DEALER RESOURCES
 

NADA Chairman John McEleney
John McEleney takes reins as 2009 association chairman. 
Even though he's taking over in the midst of an economic meltdown of historic proportions, joked Iowan John McEleney, he really is looking forward to representing dealers as their 2009 NADA chairman.

Despite a laundry list of financial disasters last year-plunging auto sales, frozen credit, layoffs, and bankruptcies-NADA managed to get the dealer's side of the story out to lawmakers and the press, said McEleney at Monday's general session. (Read more).

More Convention Highlights


 NADA-TV Video Coverage

News from Saturday, Jan. 24
News from Sunday, Jan. 25
News from Monday, Jan. 26
 

FED PROVIDES DEALERS WITH FLOORPLAN LOANS

The Federal Reserve yesterday announced new-car dealers' floorplan loans will be included in a $200 billion program designed to stimulate small-business and consumer lending. The program - called the
Term Asset-Backed Securities Loan Facility, or TALF - is intended to help small businesses and consumers get credit. Automotive News reports that the loans will be available until Dec. 31, 2009. For dealers, the TALF money will help those with problems obtaining floorplan financing in the wake of the credit crisis. The minimum TALF loan size is $10m with a three year maturity. "The move meets a key need that the National Automobile Dealers Association had identified for greater liquidity in the auto retailing marketplace," Andy Koblenz, NADA vice president of legal and regulatory affairs, said in a statement. The TALF was created Nov. 25, and secured loans for automobiles were part of the original program. But it was unclear whether lenders could use the money to finance new-car inventories for dealers. For more on the TALF loans, click here.
 
 
 
 
 

The Harsh Impact on Dealers of a Detroit Meltdown

(The What-ifs of a Franchisor Bankruptcy or Government Bailout. A Call for GM, Chrysler and Ford to Take Bold, Forward-Looking, Imperative Action)

by Eric L. Chase, Esq


REGULATORY UPDATES
 
On September 1, an "existing business relationship" will not be enough

In 2008, the FTC adopted an amendment to the Telemarketing Sales Rule (TSR) that, among other things, prohibits prerecorded telemarketing calls without a consumer's express written agreement to receive such calls. 

As of December 1, 2008, sellers (including dealers who make such calls) and telemarketers are required to provide an opt-out mechanism promptly at the outset of any prerecorded message call, as well as a toll-free number that a consumer may use to assert a request not to receive such calls. The rule also requires that automated calls allow the telephone to ring for at least fifteen seconds or four rings before disconnecting an unanswered call.

Under the new rule, sellers and telemarketers may, for the time being, continue to place calls that deliver prerecorded messages to consumers based on an existing business relationship (EBR) with that customer -- provided they do so in compliance with the above requirements.

However, as of September 1, 2009, sellers and telemarketers may not make such prerecorded calls unless they have a prior express written agreement from the recipient to receive such calls. That written agreement:

1) cannot be required (directly or indirectly) of customers as a condition of purchasing any good or service;
2) must "evidence the willingness" of the recipient to receive such calls; and
3) must include the recipient's telephone number and signature (although such signature may be electronic in compliance with ESIGN).

Note that these restrictions apply only to automated calls made "to induce the purchase of any good or service." Note also that this amendment differs in some regards from current FCC restrictions regarding prerecorded telemarketing calls. If you have any questions about the new restrictions or the FCC restrictions, consult www.nada.org and search "telemarketing sales rule."  The amendment to the TSR can be found at www.ftc.gov/os/2008/08/R411001tsrfrn.pdf.


LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!

 

Have you or anyone else at your dealership won an award recently? Has your dealership provided any outstanding community service? We want to recognize such accomplishments. Please send us a brief write-up of the award or event along with any other information to info@idahoada.org.  Also include your contact information for further follow-up.

 
Mission statement: The Idaho Automobile Dealers Association was formed in 1932 to represent interests of new vehicle dealers in the state. Our goal then and now has been to improve, enhance, and grow the automobile industry in Idaho. By advocating and providing programs, products and services for new car dealers, we want to create a stable and healthy retail market for Idaho's businesses and consumers.
 
 
Sincerely,

Trent Wright
Idaho Automobile Dealers Association
Generously Underwritten by:
Zurich
UPCOMING EVENTS:  
 
February's Dealer Class
 
Advanced Lawsuit Protection, Tax Reduction & Estate Planning
 
February 11th 1:00pm - 3:00pm MST
             
Downtown Boise Owyhee Plaza Hotel  - Gallery Room
 
'Buy Now' Campaign

Dealer Hotline

Watch NADA-TV videos

Understanding TALF
 
Join Our Mailing List

DAA Northwest

DealerSocket

DeLap White Caldwell Croy

DFI DiversiForm

Federated Insurance

First Extended Service Corp.
Ford Motor Credit

Fringe Benefit Resources

GMAC

ID Dealer Services

Idaho Statesman

Key Autofinance
KTVB

Liberty Special Finance, Inc

Luverne Truck Equipment

Manheim Seattle

Manheim Utah

Moss Adams

NW Dealer Direct CO.

Payment Insured Plan

Reliable Credit Assoc.

Reynolds and Reynolds
Sentry Insurance

Sterlings Saving Bank

U.S. Bank Dealer Commercial Services

Wachovia Dealer Services

Wells Fargo Bank Auto Dealer Services

Wells Fargo Insurance Services

Zidaho.com

 


 





 
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