On Friday (Nov. 13), Gov. Ralph Northam announced amendments to Executive Orders 63 and 67, which lay out the state’s face mask mandate plus health restrictions on businesses and individuals under Phase Three of the Governor’s “Forward Virginia” reopening plan. Gov. Northam’s announcement reminds us of the importance of adhering to government mandates designed to
Phone Down! It’s the Law!
Effective January 1, 2021, it will be illegal to hold a handheld personal communications device (i.e.- a smartphone, flip phone, or tablet) while operating a moving motor vehicle in Virginia. This new law is one of many ways the state is moving to buckle down on distracted driving. For liability and workers compensation insurance reasons,
Automotive Intelligence Serves up Engaged Customers
Consumers increasingly are going online to start their journey in buying a new car. But is your dealership positioned to harness that information and the digital breadcrumbs they leave behind to nurture interest and convert it to a sale? Enter VinSolutions’ new Automotive Intelligence (AI), which offers insights on buying signals from consumers, engagement in
Operating in the Cyber World
Even before the pandemic, dealers were moving into the cyber world. It was simply a response to how customers were changing their shopping habits. Once the pandemic hit, dealer operations in the cyber world escalated. Dealers are now fully in the cyber world, and they will stay there. They must be constantly vigilant to protect
Inflexible Supplier Contracts
At the beginning of the pandemic, dealers worked hard to reduce expenses. One strategy was to terminate or renegotiate supplier contracts. Unfortunately, once they reviewed the contracts, dealers saw that often they did not have the ability to do that because the contracts were for a specific long term without the ability to cancel. Too
Franchise Lessons from the Pandemic
Franchisors had their own challenges in dealing with the pandemic. The most notable problems were production slowdowns and stoppages that led to product shortages that dealers have been and are facing. Franchisors should have learned the most important lesson from the pandemic about dealers – left to their own ingenuity, dealers will adapt and even
TIME AND ALLY FINANCIAL HONOR CHESAPEAKE DEALER
Banister is one of a select group of 40 dealer nominees from across the country who will be honored at the 104th annual National Automobile Dealers Association (NADA) Show being held virtually February 9-11, 2021. The announcement of this year’s annual award was made by Viktoria Degtar, Global Chief Revenue Officer, TIME, and Doug Timmerman, president of Auto Finance
F&I Issues in the Age of Social Justice
People can debate the extent to which the impact of the pandemic on minorities spurred increased social justice activities. One cannot debate that social justice activities have increased. One area where you may not yet have seen fallout is in your F&I department. Some dealers believe that when the CFPB was prohibited from pursuing regulation
SBA and Treasury Issue New PPP Materials and Guidance
Recently, the U.S. Small Business Administration (SBA) and Treasury issued materials/guidance concerning the Paycheck Protection Program (PPP). They are: 1. An SBA Procedural Notice addressing changes of ownership for entities having received a PPP loan. Among other stipulations, the Notice includes, “Regardless of any change of ownership, the PPP borrower remains responsible for (1) performance of all obligations
A Message From Don Hall
OCTOBER 2020 Voting on November 3 is more than your Constitutional right. As Americans, and in appreciation for the many who fought for generations to protect that fundamental right, voting is also your responsibility. Certainly, the pandemic has shifted the voting experience, but many people are able to vote early this year – and,