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Download Bulletin WANADA Bulletin # 26-06 June 29, 2006 LEGISLATIVE UPDATE House Passes Death Tax Compromise Measure Now Goes Back to Uncertain Fate in the Senate ollowing a narrow three-vote defeat (on a there is a $2 million exemption and the top tax F procedural matter) of a Senate Bill calling for rate is 46 percent. permanent repeal of the estate tax, House GOP In pushing for the compromise bill, Rep. leaders facing reelection conceded repeal and, Thomas challenged House members: “Do you instead, chose to lock in permanent estate tax re- want to make a statement, or do you want to lief. By a 269-156 vote last Thursday, the House make law?” Stay tuned. passed a compromise bill (H.R. 5368), sponsored by Ways and Means Committee Chairman Bill BOBBY MITCHELL HALL OF FAME CLASSIC Thomas (R-CA). According to NADA, which added its sup- port for the compromise measure, the legislation would: “Increase the exemption to $5 million per person, effective January 1, 2010; make it easier for spouses to claim the exemption; retain the ‘step up in basis’ for heirs; tax estates up to $25 Over 600 participants at last year’s lively Classic ban- million at the capital gains rate, currently 15%; quet raised over $680,000 for the Leukemia and Lym- tax estates of $25 million or more at twice the phoma Society capital gains rate, currently 30%; and if Congress An Event You Don’t Want to Miss! fails to extend the 15% capital gains rate in 2011, The Bobby Mitchell Hall of under the Thomas bill, the estate tax rate would increase to 20% for estates up to $25 million and Fame Classic, July 8 & 9 to 40% for estates $25 million or more.” Sponsorship Opportunities Still Available Auction Items Needed “The real challenge will be to obtain the 60 votes necessary for success in the Senate,” said They will all be there...how about you! NADA. We’re talking 41 Hall of Famers, including Bobby President Bush's first tax cut put the federal Mitchell, Lem Barney, Elvin Bethea, Mel Blount, Bob estate tax on a declining path through the decade Brown, Joe DeLamielleure, Bill Dudley, Carl Eller, and eliminated it in 2010. That law “sunsets” in Wayne Embry, Marques Haynes, Ted Hendricks, Sam 2011 and the estate tax comes back. In 2006, Huff, Ken Houston, Charlie Joiner, Deacon Jones, Sam Jones, Sonny Jurgensen, Leroy Kelly, Paul Krause, Willie Lanier, Steve Largent, Yale Lary, Inside… Dante Lavelli, Meadowlark Lemon, Larry Little, Tom TLC/Courtesy Chrysler Jeep Golf Classic....…...p.2 Mack, Mike McCormack, Tommy McDonald, Hugh Cody Lusk Named AIADA President...…....……..p.2 McElhenny, Lenny Moore, Anthony Munoz, Joe Dealer Alert: New African Scam…………………..p.2 Perry, Mel Renfro, John Riggins, Oscar Robertson, Practices for Safer Computing..…………………..p.3 Gale Sayers, Billy Shaw, Bob St. Clair, Charley Tay- Tad Hinder Re-elected to NADA Board for MD...p.3 lor, Paul Warfield, Dave Wilcox, and Kellen Winslow July 4th SoberRide………………………………….p.4 (Continued on page 4) Page 2 WANADA Bulletin #26-06 June 28, 2006 DEALERS IN THE SPOTLIGHT 15th Annual TLC/Courtesy Chrysler-Jeep Golf Classic a Big Success Kudos to Chris Zourdos for a very successful 15th An- nual TLC/Courtesy Chrysler- Jeep Golf Classic, held June 5 at Indian Spring Country Club in Silver Spring, MD. Some 200 golfers participated in this year’s Classic, which raised over $120,000 to benefit The Treatment and Learning Centers (TLC), a Rockville, MD private, non-profit organization that offers educational, therapeutic and vocational services to chil- dren and adults with disabilities. Since 1991, the tournament has raised more than $1 million for TLC. “TLC is doing great things for this community, said Zour- dos, owner of Courtesy Chrysler-Jeep and title sponsor of the Classic, TLC’s signature event. “We are proud to support Chris Zourdos (center) with Sports Talk them and to help improve the resources available for children 980’s Al Koken (left) and TLC Executive Director Richard Pavlin at the 15th Annual and adults with disabilities.” TLC/Courtesy Chrysler-Jeep Golf Classic. The event included the golf tournament as well as a silent auction and awards dinner. Special guest Al Koken of SportsTalk 980 was on hand throughout the day and delivered the keynote address at the post-tournament dinner. Enclosed, FYI, is a TLC publication praising Chris and his dad, the late Peter Zourdos, for their many contributions. Administration serving under Secretary of Commerce Cody Lusk Named AIADA President Don Evans, where he worked as liaison between Capi- The American International tol Hill and the Secretary of Commerce on all interna- Automobile Dealers Association tional trade-related issues. announced that Cody Lusk will be its new president, effective June 19, 2006. Lusk, a senior Capitol Hill aide and former Bush Ad- ministration official, served as AIADA Legislative Affairs Direc- Dealer Alert: New African Scam tor from 1995-2001. A dealership in Fairfax County has alerted “Cody is a very capable leader WANADA that a person claiming to be a minister in and friend of our industry, with Minnesota tried to buy used cars for shipment to an- an extensive background in free Cody Lusk other minister in Ghana, West Africa using a fraudu- trade and other international lent driver’s license (with an expiration date of auto-related issues,” said AIADA Chairman Don 18/08/2011) in the name of the Reverend Edward Beyer. “He brings to the table a unique skill set and Willford. knowledge base encompassing this industry, the Ad- The call came into the dealership through a ministration and Capitol Hill. I am delighted he is third party interpreter service, which, during one of the returning to the AIADA team.” calls, warned the dealership that “this is an illegal Lusk, called his return to AIADA “a tremendous transaction please hang up.” Also, the fax number opportunity.” He most recently served as chief of staff given by the would-be purchaser turned out to be a to Rep. Sam Johnson (R-TX), a senior member of the prison in Texas. House Ways and Means Committee and a Subcommit- WANADA member dealers should alert em- tee Chairman on the Education and Workforce Com- ployees to take care so they know who they’re doing mittee. business with. Prior to that, Lusk was an appointee of the Bush WANADA Bulletin #26-06 June 28, 2006 Page 3 NADA MONTHLY DEALER OPERATIONS COMMENTARY Practices for Safer Computing The Federal Trade Commission (FTC) is launching a new campaign to educate consumers on the dangers of identity theft. NADA is a partner with the FTC in this effort, working to educate dealers and their customers on best practices for protecting personal information, particularly online. To help them spot and avoid online fraud and deception, the FTC recommends that Internet users adopt the following safer practices: 1. Know who you’re dealing with. Do business only with companies that plainly provide their name, street address, and phone number. 2. Protect your personal information. Share credit card or other personal information only when buying from a company you know and trust. Don’t share any personal information unless you know how it will be used and protected. And don’t reply to or click on links in any email asking for your personal information. 3. Use anti-virus software and a firewall, and update them regularly. Look for anti-virus software that rec- ognizes current viruses, as well as older ones; effectively reverses the damage; and updates automatically. If your firewall was shipped in the “off” mode, turn it on, and be sure to set it up properly. 4. Be sure to set up your operating system and Web browser software properly, and update them regu- larly. Select security settings high enough to reduce your risk of being hacked. Make sure to regularly update your system with the latest patches. 5. Protect your passwords. Keep your passwords in a secure place, and don’t share them on the Internet, over email, or on the phone. 6. Back up important files. If you have important files stored on your computer, copy them onto a removable disc, and store it in a safe place. 7. Learn who to contact if something goes wrong online. If you think you’ve been a victim of fraud, report it to 1-877-FTC-HELP or www.ftc.gov. You’ll be providing important information to help law enforcement officials track down and stop scam artists. You can also go to OnGuardOnline.gov, a site maintained by the FTC in partnership with other government agencies, Internet safety and help groups, and consumer organiza- tions. Click on “File a Complaint” to learn how to respond if problems occur when you’re online. OnGuardOnline.gov also provides practical tips from the federal government and the technology industry to help you be on guard against Internet fraud, secure your computer, and protect your personal information. This article is adapted from materials provided by the FTC (www.ftc.gov/idtheft) and by OnGuar- dOnline.gov. Consumer materials in Spanish are available at www.ftc.gov/ojo. Tad Hinder Re-elected to NADA Board for MD The Maryland Automobile Dealers Association (MADA) recently announced that Joseph F. (Tad) Hinder Jr., president of Hinders Lincoln-Mercury-Isuzu in Bel Air, MD, and Hinder Mo- tors Inc. in Aberdeen, MD, has been re-elected to the NADA Board of Directors representing Maryland. This will be his third three-year term. “I appreciate the opportunity to represent the dealers of Maryland and the confidence they have placed in me,” said Hinder.
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