We know that learning to navigate yet another virtual meeting can seem like a challenge. That's why we’re offering Show Orientation sessions to help guide you through this year's NADA Show.
Just as with our in-person Show, our in-depth webinars will teach you how this amazing new digital experience will work. We’ll break down each area of the virtual platform, so there’s no guesswork.
You do not have to be registered to attend NADA Show orientation, so if you’re on the fence about registering, this is the full preview you’ve been waiting for!
NADA Show Orientation Dates
NADA Show Orientation Webinar Session 1 – Feb 4, at 3pm EST (Webinar link, no registration required.)
NADA Show Orientation Webinar Session 2 – Feb. 5, at 1pm EST (Webinar link, no registration required.)
Can’t make it during these times? No worries! We’ll post the recording for review on-demand after the first session airs.
NADA Show 2021 takes place Feb. 9-11, with special pre-Show access days on Feb. 4-8. Don't miss out!
Thanks to dealers' generous donations, the Clear the Air Foundation had a good start to the year with 72 donations. That's above the January monthly average of 62.
Thank you to the following dealers for your generosity last week.
How to 'grow your own' auto technicians
While participating in CADA's 40 Legislative Grassroots Meetings (LGMs) in 40 days campaign, I’ve had conversations with Dealer Principals about their struggles to find experienced Automotive Technicians. The reality is that they are, and have been, extremely tough to find.
One of the solutions is to grow your own. It’s hard work, and you need to dedicate resources to make it happen. One helpful solution is to get involved with your local community college / technical school and help steer the curriculum to what you need from their graduates. It’s a symbiotic relationship that, when done right, will reap rewards for years to come.
Another innovative solution is to establish a scholarship with the school’s foundation. You can set the criteria and have them screen candidates for you. By helping a student with tuition or tools, and hiring him or her to work part or full time, you can groom a student to the role you need to fill. It’s a win-win!
If you have any vehicles that really shouldn’t be on the road, be sure to do your part to help the cause and donate it today!
The year started off strong with a compliance webinar that could affect your bottom line, followed by one that details the ins and outs of buying or selling a dealership. If you missed these webinars, you can stream them through CADA's Education on Demand.
If you're not sure whether your Service Department is up to date with all the new laws that were triggered with the page turning to January 1, check out the January 14 webinar, Under the Hood: Service Department Legal Compliance.
And whether you've been toying with the idea of selling your dealership or buying another one, before doing anything, discover how to avoid the common — and not-so common — pitfalls through last week's Automotive Buy-Sell Transactions from A - Z.
Dealership invoicing of bonds and renewals (salesperson bonds and renewals can be separately invoiced)
Salesperson bonds can be obtained after passing the state licensing exam, which can be taken at CADA Headquarters
For more information on CADA’s Bonds, contact Khorrie Luther
Bond tip of the week Salesperson bond refunds
Salesperson bonds can be returned within 25 days of the original purchase date. When canceling a bond, email Khorrie Luther with the salesperson’s full name and bond number. Credit is only issued if we received payment, and within 25 days of the original purchase.
Help Protect Your Business Against Social Inflation
In recent years, insurance claim amounts have risen sharply, fueled by an increasing tendency for juries to award plaintiffs massive sums when a business is the defendant. This phenomenon is known as “social inflation.” Social inflation is spurred by growing public distrust and negative sentiment toward businesses. These emotions, combined with a jury’s desire to secure perceived justice and compensation for plaintiffs it feels are wrongly injured, is resulting in higher punitive damages being the norm. This is particularly true when the litigation centers on a company driver involved in a vehicle crash.
So what does this mean for business owners? More uncertainty. Potentially higher insurance premiums brought on by more expensive losses industry-wide. A riskier business landscape. While there is no way to predict the outcome of a trial with certainty, you can help reduce the chances that your business will experience a catastrophic verdict.
Strengthen your policies — especially your company driving policy. Prohibit mobile device use and other distractions, and remind employees to check their speed, avoid driving fatigued, and focus on the road while operating company vehicles or driving for business purposes.
Enforce your policies. Without enforcement, you could appear more negligent to a jury, potentially leading to higher damages.
Train — and retrain — your employees. Introduce company policies and best practices to employees upon hire and regularly review them with your staff. Present the information in fresh, memorable ways to increase retention.
Go beyond the minimum. Create policies that follow federal, state, and local regulations, but don’t stop there. Consider prohibiting additional risky behaviors, where allowed by law. Going above and beyond what’s mandated could help prove your business is committed to helping keep your drivers safe on the road.
Don’t rest on your insurance policy. Rising claims amounts aren’t just a problem for insurance companies. The amount a jury decides a business owes a plaintiff might exceed that business’s policy limits — and even its umbrella if it has one. If that happens to you, could you cover the excess amount and still keep your business afloat?
Make safety a cultural value. If you can show that safety is among your foremost concerns, this could help support your defense against a claim of negligence, possibly reducing any potential settlement amount or jury award.
It’s easy to emphasize the dollar amounts — after all, seven- or eight-figure sums are huge and, in most cases, unprecedented. But what’s really important is preventing injuries and deaths. Our current environment is an opportunity to help protect your bottom line and employees. Evaluate your policies, look for opportunities to reduce distractions, strengthen your safety culture, and help make the road a safer place.
Around Colorado
Glendale Cherry Creek Chronicle
Loophole in rideshare regulations puts Coloradans at risk
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