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What’s ahead for franchised new car dealers? Find out at the UMB Economic Forecast dinner, May 3. Seating is limited, so reserve your spot now! Details below.
Paul Williamson, President of UMB Bank Colorado Region and Tim Jackson, President/CEO of CADA, invite you to join us for the third annual

Economic Forecast Dinner

— a timely, insightful outlook on today’s economy for Colorado new-car dealers

Featuring
KC Matthews, CFA
Chief Investment Officer, UMB Bank, responsible for development, execution and oversight of UMB’s investment strategy

and

Michael Stanton
Senior Vice President and Chief Operating Officer, NADA, works across the organization on strategic and operational issues, and oversees IT, Economics and Data Analytics and Affinity programs.

Thursday, May 3, 2018
5 – 7 p.m.

Reception 5 – 5:45 p.m.
Dinner 5:45 – 7:30 p.m.
Colorado Automobile Dealers Association
290 E. Speer Blvd. Denver, CO 80203

RSVP
e-mail: Economic@colorado.auto
web: colorado.auto/events
phone 303.831.1722
Register now!
Denver Auto Show Media Wrap-up
Results are now being compiled for the 2018 Denver Auto Show, which just ended two days ago. If media coverage is any indication of the success of the Denver Auto Show, the Preview Gala and the Automotive Career Fair, the Denver Auto Show was a great success!
Denver Auto Show in the News
Denver Auto Show has some serious attention getters
Convention Center ‘rush hour’ as Denver Auto Show closes
From beginning to end, CBS4 Denver covers Denver Auto Show
9News – Colorado & Company
9News – Cars at the Denver Auto Show
9News – 11th Annual Green Car Parade
Fox 31/2News — Sneak peek at the Denver Auto Show
Fox 31/2News — Joana checks out Camp Jeep at the Denver Auto Show
Dealer workforce study
NADA’s Dealership Workforce Study measures the strengths of the business and helps dealerships make informed decisions on pay plans, benefits and work schedules and more. Participating dealerships will receive two complimentary reports: Automotive Retail: National & Regional Trends in Compensation, Benefits & Retention and Compensation, Benefits and Retention: How Your Dealership Compares
 
The deadline to participate is April 30. 
 
To enroll, visit www.nadaworkforcestudy.com. For questions, call Dorenda Fisher at 703.556.8583 or email WorkforceStudy@nada.org.
Regulatory and Legal Updates
Records Retention

Over the past few weeks, I have spoken with several dealer members on the topic of records retention: How long you must keep certain types of documents and in what fashion they may be stored. While a full list is available on request and included in our Dealer Compliance Guide, this is designed as a brief outline of retention guidelines. (The Dealer Compliance Guide list was prepared in conjunction with Heider, Tanner, & Dirks, Inc.)

Records that may be stored

Colorado has adopted two federal laws that permit electronic records storage. The Colorado Uniform Records Retention Act (C.R.S. 6-17-101 et seq.) specifies that all business documents must be kept for three years. This serves as a baseline standard that is modified by regulations and practical (audit) requirements for dealers that require retention of specific types of documents for four years, seven years, 10 years or indefinitely.

For example, correspondence with customers and vendors, hazardous waste reports, I-9 verification forms and petty cash statements should all be kept for four years.

Odometer readings, OSHA reports, information regarding property tax, and repair orders should all be maintained for seven years.

Deal jackets, IRS Form 8300, insurance claims, and payroll tax returns should all be kept 10 years.

Finally, all federal tax documents and documents relating to the formation of the business’s existence (articles of incorporation and by-laws) , as well as documents related to the corporation’s real property and employee agreements are recommended to be kept indefinitely.

For a comprehensive list, send me an e-mail (clickable link on his name to his e-mail address: matthew.groves@colorado.auto).

This list was developed with tax audits in mind. As many guidelines are not covered by law or regulations, various legal and strategic business advisors may offer different opinions about the retention guidelines of different types of forms. If you have any questions please contact me, Matthew Groves at 303.282.1449, or Tim Jackson 303.282.1448.
More Automotive News
Manufacturer News
Ford gives Focus sportier design, more high-tech features
The Best Crossover SUV lease deals — all under $200 a month
Volkswagen now has a big chance to slash costs and sell stuff
Chevrolet refreshes Malibu, Cruze and Spark for 2019
Chevy to launch all-new 2020 Silverado HD in fall 2019
How Jaguar Land Rover leverages its smaller size to make big bets to best larger competitors
Other News
American roads get even worse as texters flout law
- -  CLICK BELOW FOR MORE AUTOMOTIVE NEWS  - -
Bonds & Forms
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.
Download the form
Contact Khorrie
Upcoming Events & Seminars

2018 Labor & Employment Seminar

DATE AND TIME
April 17, 2018
11:30 AM - 6:00 PM

LOCATION
Mile High Stadium (f/k/a Sports Authority)
1701 Bryant Street Denver, CO 80204

Please join us for our annual half-day employment law seminar designed to provide timely information on hot topics in HR and employment law. We will provide practical solutions to some of the most important issues employers are facing in today’s ever-changing workplace environment.

Agenda:

11:30 AM - 12:00 PM – Welcome & Lunch

12:00 PM - 5:00 PM – Presentations

Everything Old is New Again: Changes to Workplace Law Under the Trump Administration
Sue Schaecher

Roundtable Breakout Sessions:
  • I-9 Compliance and Immigration Law – Best Practices and Recent Enforcement Activity
    Jocelyn Campanaro
  • NLRB Policy Shifts, Case Reversals and More – Labor Law Developments for Union and Non-Union Employers
    Todd Fredrickson
  • Employee Departures and Onboarding – Mitigating Risk
    Mike Greco
    Kevin Burns
  • #MeToo – #YouToo – #WhatToDo?
    Danielle Urban
    David Roth
5:00 PM - 6:00 PM – Cocktail Reception

Cost:
  • $65 per person/$55 per person if two or more register from the same organization
*This program is approved for HRCI/SHRM Preferred credits and 5.0 hours of Colorado CLE credit.

Questions? Please contact Kelsey Crews.
Risk Management Academy

Federated Insurance is offering complimentary risk management training for auto dealers on May 8-10, 2018. Through this valuable session, you will discover methods you can use immediately to help protect profits by reducing risk at your business.

Companies that are the most successful at controlling losses and protecting profits have integrated risk management into their overall company culture. Many have designated a key person as their risk manager. This person is supported by your company’s top management and is both responsible and accountable for identifying loss exposures and implementing risk management solutions.

This seminar’s objective is to help your risk manager learn the exposures specific to the auto dealer industry, connect with peers from across the country and apply these best practices within your business.

You can learn more by viewing a brief video about the Risk Management Academy. To reserve your spot in the upcoming session or for more information, please contact Royetta Spurgeon at rlspurgeon@fedins.com or (800)533-0472 Ext. 455-5604. Or, visit Federated's website.
Sales Power Boost Seminar

Wednesday, May 16, 2018
OR
Thursday, May 17, 2018
Send half your sales team one day and half the other day!
8 – 5 p.m.
CADA Headquarters
 
Presented by the Sales Academy, these two, one-day workshops will give your dealership team a boost in sales and profitability in the shortest amount of time possible.
 
Based on The Academy’s Y.E.S. Customer Engagement Process, your experienced team will pick up fresh techniques for today’s internet-educated customer. The Power Boost is designed for dealerships that want new ideas and directions for big-sale weekends and strong close outs.
 
Today’s customer requires an updated skill set — and even mindset — that needs to be adopted by sales professionals and managers.
 
Course instruction includes
  • The Science of the Sale
  • Basics of appointment setting
  • Determining the customer state in the buying process
  • Up front objection handling to move forward
  • Determine the emotion for vehicle
  • Correct vehicle selection
  • Basics of vehicle presentation
  • Ask the customer to purchase
  • Presenting numbers
  • Price objections
  • Trade objections
  • Cash objections
  • Payment objections
  • Working with the customer
 
Who should attend
Any sales person on your team — rookie or veteran. The content will help a rookie become more capable of operating in today’s sales market. It will give a veteran a boost in dealing with today’s customer, by giving him or her improved or updated engagement skills.
 
Why you should attend
The Sales Academy teaches sales professionals how to meet customers at their point in the buying process, not make them start over. Your sales team will pick up fresh techniques for today’s internet-educated customers.
 
Price
$349/person
OR
$249 each for 5 people from your dealership
Send 3 people and your sales manager is FREE!
 
Register
e-mail: SeminarRSVP@colorado.auto
Phone: 303.831.1722
Mastery of Finance for Automobile Dealers:
A workshop that links finance to automobile dealership operations
 
Tuesday, June 19, 2018
8 a.m. – 5 p.m.
CADA Headquarters
 
Performance is measured on bottom-line results. Do your key decision makers know how to drive the bottom lines at an auto dealership?
 
Using a revolutionary and simple approach, learn to support your team’s management of sales, expenses and assets to improve profit, cash flow and return on capital.
 
In this one-day seminar, you’ll learn:
  • The three types of cash flow and which is most important to your daily operations
  • The relative profitability of the five lines of business at a dealership
  • How costs are allocated to dealership departments
  • How to distinguish cost of goods sold from operating expenses at a dealership
 
Topics covered include
Fundamentals of Finance
  • Key elements of business strategy
  • Structure and purpose of three financial statements
  • Distinguishing assets, liabilities and equity
  • Difference between cash and earnings
  • Three types of cash flow
  • Relationships of the three statements to each other and to dealership operations
  • Basic principles of finance
 
Financial Analysis and Decision Making
  • Analyzing auto dealer financial statements
  • Learning the three bottom lines — and how to improve them
  • Evaluating a dealer’s performance trends
  • Identifying crucial drivers and auto dealer KPIs
  • Managing working capital for dealerships
  • Making better strategic decisions
  • Applying financial knowledge to your job
  • Sources and uses of cash
 
Who should attend
This seminar is designed for non-financial professionals in every functional area of an auto dealer’s operations who need to:
  • Drive financial performance
  • Analyze strategic opportunities
  • Assess risk
  • Communicate financial priorities and results
 
Price
$400/first person
$350/additional person
 
Register
Online: CLICK HERE
e-mail: SeminarRSVP@colorado.auto
Did you miss the Military Lending Act webinar?

Good news! The webinar is available on demand from CADA, ready for you to attend at your own convenience! To get the webinar, click here.
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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