Next Tuesday! Register now!
Mastery of Finance for Auto Dealers
& Key Leaders
A workshop that links finance to automobile dealership operations
You already know this: Performance is measured on bottom-line results. After all, that’s nothing new. Yet everyone with financial line item responsibilities in a dealership should really understand how much gross profit is being made in his or her department — to ensure the entire organization performs in a way that’s profitable.
For many, they don’t understand the impact the different margins have on the dealership’s bottom line. For example, new and used car sales have extremely low margins. So the bigger margins of sales are in Service, Parts and Body departments. Each department leader needs to understand why their margins are so important when they drive revenue at your dealership.
Most leaders with financial responsibilities don’t quite get that.
They will, though, after attending the day-long workshop, Mastery of Finance for Auto Dealers & Key Leaders. During this workshop each key member of your leadership team will discover how they can make better overall decisions to ensure the dealership is profitable on a sustained basis, and how to improve profitability margins.
In a nutshell:
Effectiveness is the senior manager’s job. Efficiency is the operating managers’ and employees’ jobs. To be successful, a dealership needs to be effective AND efficient. To do that means understanding the metrics of effectiveness, the metrics of efficiency and how to make decisions that will ensure both of those at your dealership.
CADA has partnered with MetaMark Learning to provide Mastery of Finance for Auto Dealers & Key Leaders. This program is designed for non-financial professionals in every functional area of an auto dealer’s operations who are responsible for:
- Driving financial performance
- Analyzing strategic opportunities
- Assessing risk
- Communicating financial priorities and results
About the presenter: Owner of MetaMark Learning, Darrell Mullis is the author of The Accounting GameTM, one of Amazon.com’s top two recommended finance books over the past 10 years. With more than 30 years’ experience, Darrell is a leading expert in teaching finance to non-financial professionals, including CEOs and key team leaders of multinational corporations and family owned businesses throughout the world. MetaMark Learning has customized the program for the auto industry. Darrell’s objective is to help people understand how money is made in the industry and how each person can improve profit and cash flow in day-to-day decisions and actions.
When:
Tuesday, June 19
7:30 a.m. Breakfast and networking
8:00 a.m. – 5:00 p.m. Workshop
Lunch is provided
Where:
CADA Headquarters
290 E. Speer Blvd. Denver
Price:
$400 All registrations
Group discounts available
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New Colorado franchise law: SB-219
Warranty reimbursement at retail seminar
How to add revenue to your Service & Parts departments
The most significant piece of legislation ever passed for Colorado’s auto dealers got the green light in early May. The Warranty Reimbursement at Retail bill levels the playing field between the manufacturer and the dealer for warranty and recall vehicle repairs.
In short, the bill lets you receive warranty parts and labor reimbursement rates that more closely match those charged for non-warranty work. This new law means a significant boost to your bottom line.
The law goes into effect October 1. Please note that last week we incorrectly stated the effective date as August 9. And you’ll need to understand how to navigate a complex formula to obtain these higher warranty and recall reimbursement rates.
Please join CADA as Michael Dommermuth, dealer attorney from Fairfield & Woods, P.C., leads this important seminar about the new law, what it can do for your dealership and how to navigate the calculations so you’re reimbursed for warranty work at current market rates.
Schedule
Monday, June 18
DoubleTree by Hilton Hotel Durango
501 Camino Del Rio
Durango, CO 81301
11:30 a.m. – 1:15 p.m.
Lunch included
REGISTER NOW!
Tuesday, June 19
Holiday Inn Express & Suites Montrose
1391 S. Townsend Avenue
Montrose, CO 81401
7:30 – 9:15 a.m.
Breakfast included
REGISTER NOW!
The Hotel Colorado
526 Pine St.
Glenwood Springs, CO 81601
Noon – 2:30 p.m.
Lunch included
REGISTER NOW!
Monday, June 25
Courtyard by Marriott Pueblo Downtown
110 W City Center Drive
Pueblo, CO 81003
7:30 – 9:15 a.m.
Breakfast included
REGISTER NOW!
Antlers Hotel*
4 S. Cascade Ave.
Colorado Springs, CO 80903 1
1:30 a.m. – 1:15 p.m.
Lunch included
*CSADA members: Registration is included with your dues.
REGISTER NOW!
Tuesday, June 26
SOLD OUT!
CADA Headquarters
290 East Speer Blvd.
Denver, CO 80203
7:30 – 9:15 a.m.
Breakfast included
The Ranch Events Complex
5280 Arena Cir.
Loveland, CO 80538
11:30 a.m. – 1:15 p.m.
Lunch included
REGISTER NOW!
Wednesday, June 27
SOLD OUT!
CADA Headquarters
290 East Speer Blvd.
7:30 – 9:15 a.m.
Breakfast included
NEW! Third Denver date!
Wednesday, June 27
CADA Headquarters
290 E. Speer Blvd.
11:30 a.m. – 1:15 p.m.
Lunch included
REGISTER NOW!
Price
$239 first person
$199 each additional person
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Warranty reimbursement at retail seminar for RV dealers
The law also affects RV dealers in Colorado and the RV dealership calculations are different from that for our auto dealers.
If you’re an RV dealer, please join CADA for a special seminar just for RV dealerships. Led by Michael Dommermuth, dealer attorney from Fairfield & Woods, P.C., leads this important seminar about the new law, what it can do for your dealership and how to navigate the calculations so you’re reimbursed for warranty work at current market rates.
Warranty Reimbursement at Retail for RV Dealers
Tuesday, July 10
CADA Headquarters
290 East Speer Blvd.
7:30 – 9:15 a.m.
Breakfast provided
Price
$239 first person
$199 each additional person
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Regulatory and Legal Updates
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New license fee schedule out now
Effective July 1
The Auto Industry Division has recently released its updated License Fee Schedule for the 2018-2019 period. This schedule is to take effect on July 1, 2018 and includes two items that are new regulations this year: A limited permit for off-premise sales and a fingerprinting-based criminal history check.
Download a copy of the license fee schedule.
Should you have any questions, please contact Matthew Groves, at 303-282-1449, or matthew.groves@colorado.auto.
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OSHA Injury and Illness Electronic
Reporting Deadline Looms
 Dealerships required to electronically file 2017 employee workplace injury and illness records with the Occupational Safety and Health Administration (OSHA) must do so by July 1, 2018.
Dealerships required to electronically file Form 300A or equivalent include:
• Commercial-truck dealerships with 20 to 249 employees at a single "establishment," defined as "a single location where business is conducted or where services or industrial operations are performed"; and
• Light-duty and commercial-truck dealerships with 250 or more employees at a single establishment.
Electronic filing must be done using OSHA's Injury Tracking Application (ITA); An FAQ on the ITA submission process is available on OSHA's website. A North American Industry Classification System (NAICS) number is required for filing: commercial-truck dealerships are NAICS 42311; light-duty dealerships are NAICS 44111.
Light-duty dealerships with fewer than 250 employees at a single establishment must annually record workplace injuries and illnesses, but are not required to file electronically with OSHA. For more information on OSHA's injury and illness recordkeeping and reporting mandates, visit NADA's injury and illness recordkeeping page or contact NADA Regulatory Affairs at regulatoryaffairs@nada.org.
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- - CLICK BELOW FOR MORE AUTOMOTIVE NEWS - -
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CADA has a fillable bond request form for new sales people! This new, fillable PDF form makes it easier, faster and more accurate for us to turn around your salesperson bond request. Because there’s no handwriting to decipher with this form, bond turnaround can be faster than ever. Just download the form, electronically fill it out and return to Khorrie Luther (khorrie.luther@colorado.auto). Questions? Call Khorrie: 303.457.5122.
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Upcoming Events & Seminars
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Mastery of Finance for Auto Dealers & Key Leaders workshop
Tuesday, June 19
8 a.m. – 5 p.m.
CADA Headquarters
Details
REGISTER NOW!
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Warranty reimbursement at retail seminars
Various locations and dates below:
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Monday, June 18
DoubleTree by Hilton Hotel Durango
501 Camino Del Rio
Durango, CO 81301
11:30 a.m. – 1:15 p.m.
Lunch included
REGISTER NOW!
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Tuesday, June 19
Holiday Inn Express & Suites Montrose
1391 S. Townsend Avenue
Montrose, CO 81401
7:30 – 9:15 a.m.
Breakfast included
REGISTER NOW!
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Tuesday, June 19
The Hotel Colorado
526 Pine St.
Glenwood Springs, CO 81601
Noon – 2:30 p.m.
Lunch included
REGISTER NOW!
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Monday, June 25
Courtyard by Marriott Pueblo Downtown
110 W City Center Drive
Pueblo, CO 81003
7:30 – 9:15 a.m.
Breakfast included
REGISTER NOW!
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Monday, June 25
Antlers Hotel*
4 S. Cascade Ave.
Colorado Springs, CO 80903 1
1:30 a.m. – 1:15 p.m.
Lunch included
*CSADA members: Registration is included with your dues.
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Tuesday, June 26
SOLD OUT!
CADA Headquarters
290 East Speer Blvd.
Denver, CO 80203
7:30 – 9:15 a.m.
Breakfast included
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Tuesday, June 26
The Ranch Events Complex, Loveland
11:30 a.m. – 1:15 p.m.
REGISTER NOW!
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Wednesday, June 27
SOLD OUT!
CADA Headquarters
290 East Speer Blvd.
7:30 – 9:15 a.m.
Breakfast included
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NEW! Third Denver date!
Wednesday, June 27
CADA Headquarters
290 E. Speer Blvd.
11:30 a.m. – 1:15 p.m.
Lunch included
REGISTER NOW!
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Warranty Reimbursement at Retail for RV Dealers
Tuesday, July 10
CADA Headquarters
290 East Speer Blvd.
7:30 – 9:15 a.m.
Breakfast provided
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ENDORSED PROVIDER / PROGRAMS
For information about any of the Endorsed Provider’s products or services, contact
Polly Penna polly.penna@colorado.auto
303.457.5119 office | 303.945.6426 mobile
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Updated FMLA Forms
 Updated FMLA Forms Based on requirements for the Paperwork Reduction Act, the Department of Labor sends their FMLA forms to Office of Management and Budget (OMB) every three years for an audit. The OMB is filing 30-day extensions for these FMLA updates and we could see more in the coming months as they continue their review.
Next Steps: Ensure you perform updates to your files for these forms and stay tuned for more updates from the OMB after June 30, 2018.
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CSA Goes on the Road in June! Colorado Springs -- Grand Junction -- Greeley
REGISTER NOW!
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