Dealer Survival Checklist

Today more than ever, dealers must control their receivables and inventories to manage cash, and also concentrate on maximizing their efforts in the areas of their businesses that produce the most revenue. Now is the time to scrutinize your business practices and employ practices that will not only allow you to sustain this crisis, but sustain profitability in the future. Click here for a list of the top priorities dealers should be focusing on, according to NADA 20 Group consultants and Dealer Academy instructors.

Red Flags Rule Deadline of May 1 is Here. Are You Compliant?

Effective May 1, 2009, dealers and other creditors should have developed and implemented a written identity theft prevention program (ITPP). That's when the Federal Trade Commission will begin enforcing the Red Flags rule. According to the rule, dealerships must "develop and implement an identity theft prevention program that includes policies and procedures for detecting, preventing, and mitigating identity theft in connection with account openings and existing accounts." For a summary of the Red Flags rule and to see steps that dealerships need to take to be compliant, click here.
If you are still in need of a Red Flag solution, 700Credit can help. Click here for more information on their comprehensive Red Flag solution or visit their website: 700credit.com

Do You Want to Instantly Save Money on Office Supplies?

Staples Business Advantage is offering SLADA members an exclusive program that allows them to not only save money on all their office supplies, but also earn extra savings on a large list of specific items used most often in auto dealerships. On top of that, SLADA members will benefit from an extra rebate, easy online ordering and quick product delivery. Call David Heitz at 314-579-9708 ext. 228 today to learn how you can take advantage of this money-saving program.

Are You Prepared for the Possibility of a Big Three Bankruptcy?

While everyone hopes for the best outcome during these tough economic times, it is still helpful to be prepared for every scenario possible. One of these possible scenarios that dealers should take time to learn about and prepare for is that one of the Big 3 auto manufacturers could file for bankruptcy. It is imperative that dealers understand how this scenario might affect them in order to protect themselves and their dealerships. For a synopsis of how bankruptcy law specifically relates to auto manufacturers and dealers, click here.

Those Pesky Loan Covenants by David Keller, CPA from LarsonAllen LLP

With the current economy in the tank, it is very likely that your sales suffered over the past number of months. If you're not having a good year, then your lender's collateral has probably decreased. When a lender's collateral decreases, the lender's risk increases. When that risk increases, lenders become nervous. And, in these current uncertain times, they become very nervous. Click here for the entire article.

St. Louis Auto Outlook

The St. Louis Auto Outlook is filled with valuable, objective information on the metro area's new retail automotive market that can't be found anywhere else. The St. Louis Auto Outlook tracks monthly vehicle registrations in the greater St. Louis metro area. Click here to see the latest monthly report.

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