UCDU Gives Back To The Community

Board members and staff from the UCDU had the opportunity to play Santa this week just before Christmas. Donations were collected from dealers who buy and sell at Brasher’s Salt Lake Auto Auction from Thanksgiving to Christmas The donations were then matched by Brasher’s Salt Lake Auto Auction. This money was delivered before Christmas to fill the great need in our communities.

Checks for $5,000 were gratefully received from Utah Food Bank, The Adoption Exchange and KSL Quarters for Christmas. A check for $2,500 for Make-A-Wish was also delivered. More will be delivered after the New Year to other organizations.

Utah Food Bank will be able to leverage the $5,000 donation to nearly $35,000 in benefits to help families and children who go hungry each day. Make-A-Wish donation will help them reach a record goal in 2016 of granting more than 181 wishes for children in Utah. The Adoption Exchange will be using the donation to help at risk children to be adopted by a family in Utah. Quarters for Christmas will be buying shoes, sox, coats and more to children all year.

For nearly 20 years, the Board and staff of the Used Car Dealers Association has the opportunity to deliver these checks. “This really helps make Christmas better for a lot of people” said Clint Martin, owner of 4K Cars and President of the Association. “This is a great opportunity for us as well to feel the spirit of Christmas and help those in need” said Randy Sugahara of SS Auto Brokers in Ogden. “Wouldn’t it be great if we could do this all year long?”

Thanks to many dealers who donate to help those in need. The used car industry has collectively contributed a lot back to the communities they are in. Each has helped in their own way. If you did not get a chance to give back to your community, it is never too late. Look around and you will find a need.

A special thanks to Rob Brasher at Brasher’s Salt Lake Auto Auction for collecting the money and getting checks ready to deliver and more importantly matching the funds dealers donate. It makes the money go a lot further in helping others in need.

The Art of Thank You Note Writing

Gratitude is a virtue every man should cultivate. Yet gratitude means nothing if you haven't mastered the art of expressing it. A person should use every opportunity to express to those around them how much they appreciates their love, support, and generosity. One of the key ways of expressing gratitude is the thank you note. Unfortunately, many people today completely overlook this aspect of etiquette and consequently. Everyone should be knowledgeable of the whens and hows of writing thank you notes. Being a frequent and skillful writer of them will set you apart. 

When to Write a Thank You Note

• When you receive a gift.
• When someone performs an act of service for you.
• When someone goes above and beyond what is asked of them, whether at work or in a friendship.
• After a job interview.
• When you stay overnight at someone's home.
• If someone shows you around their town or city when you're vacationing there, regardless of whether you stayed at their home or not.
• When someone has you over for dinner.
• When someone throws a party or event for you.
• Anytime someone does something extraordinary that warms your heart. Don't be stingy with the thank you note. There's never a wrong time to write one.

Some Ground Rules

1. Always write the note as soon as possible. Send it within two weeks of attending the event or receiving the gift.

2. Send it through the mail. Email thank yous are certainly convenient, but except in response to very small things, they are not appropriate. Some may say, "Well, a thank you is a thank you. Why does it matter what form it takes?" Sending a thank you note through the mail shows effort. It shows that you took the time to put pen to paper, addressed an envelope, and bought a stamp. It's tangible; they can touch it, hold it, and display it on the mantle. It makes your thank you far more sincere.

3. Use real stationary. Having to run to the store to buy a card every time you need to write a thank you note will make you drag your feet about writing them. So invest in some nice looking stationary. It doesn't have to be fancy; buy something with a neutral, conservative theme so that the cards can be used for a variety of occasions.

How to Write a Thank You Note

1. Begin by expressing your gratitude for the gift/service. Your opener is simple: "Thank you very much for ______________." If the gift was money, use a euphemism for it. Instead of "thank you for the dough," say "thank you for your kindness/generosity/gift."

2. Mention specific details about how you plan to use a gift or what you enjoyed about an experience. If you are thanking someone for holding an event like a party or dinner, be specific about what you enjoyed about it. If you are thanking someone for a gift, tell the note's recipient how you plan to use it. This is true even for a monetary gift; tell the giver what you plan to spend it on or what you're saving for.

3. For some recipients, add some news about your life. This isn't always appropriate; obviously if you're writing a thank you note for say, a job interview, you don't want to tell them how you recently caught a two-foot bass. But if you receive a gift in the mail from people who see you infrequently and who would like to know more about what's going on in your life (read: your grandparents), give a brief sketch about what you've been up to recently. 

4. Close by referencing the past and alluding to the future. If the person gave you the gift at a recent event, write, "It was great to see you at Christmas." Then say, "I hope we all can get together again next year." If the person sent the gift in the mail, and you see them infrequently, simply write, "I hope to see you soon."

5. Repeat your thanks. "Thank you again for the gift," makes the perfect last line.

6. Valediction. Valedictions are the words or phrases that come before your name. The hardest part of a thank you note is often choosing a valediction that appropriately conveys the level of your relationship with the recipient. "Love" can sometimes seem too gushy and "Sincerely" can seem too formal. If your affections fall somewhere between those two expressions, here are some neutral valedictions that can fit a wide variety of situations and relationships:

• Yours Truly
• Truly Yours
• Kindest Regards
• Warmest Regards
• Best Regards
• Respectfully

Thank you 

Ellen Reddick

801-581-0369

Ellen@impactfactoryutah.com

NIADA Connect Dealer Program

NIADA is pleased to introduce a new enhancement to AutoZone's Connect Dealer program. Service Drive powered by ALLDATA is a software integration that provides OEM safety recalls and technical service bulletins for ALL makes and models. This integration allows you to import up to 250 VINS at one time to retrieve all recall information, associated customer letters and TSBs in real time directly from the OEMs.   Service Drive powered by ALLDATA also provides labor estimates for all makes and models. Service Drive's labor estimates include accurate maintenance schedules with standard hours and warranty times provided by ALLDATA. Service Drive estimates also include OE part numbers for automatic usage with your repair orders.   Service Drive powered by ALLDATA is designed to boost your shop's efficiency and improve sales with: A more efficient inventory recall evaluation process Accurate, real time daily updates to enhance the timeliness of the data and corresponding transparency with customers Better evaluation of trade-ins, auto auction and dealer-to-dealer vehicle purchases Decreased risk of unattractive inventory to potential buyers Increased customer trust by providing full disclosure with the most timely and high quality OEM recall notices available Special NIADA member rate of $29.99 per month over half the normal rate! To learn more and enroll today, visit http://www.niada.com/autozone_service_drive.php

CONSUMER FINANCIAL PROTECTION BUREAU CAUTIONS MILITARY LENDERS AGAINST ILLEGAL MILITARY ALLOTMENT PRACTICES

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) sent letters this month to several companies that sell retail goods to military servicemembers, advising them to review their websites and other advertising for potentially misleading marketing and to review other practices related to payment by military allotment. Active-duty servicemembers are not permitted to use allotments to pay for personal property such as vehicles, appliances, and consumer electronics. The CFPB is concerned that companies that are still advertising repayment by way of military allotment may potentially be violating federal consumer financial protection laws.   

“Companies that are still advertising repayment via military allotment may be violating the law,” said CFPB Director Richard Cordray. “Companies should give consumers accurate and reliable information so they can make the best decisions for their own financial situations. We will continue our work protecting servicemembers and promoting a fair and transparent marketplace for all consumers.” 

CONSUMER FINANCIAL PROTECTION BUREAU AND DEPARTMENT OF JUSTICE REACH RESOLUTION WITH HONDA TO ADDRESS DISCRIMINATORY AUTO LOAN PRICING

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) resolved an action with American Honda Finance Corporation that will put new measures in place to address discretionary auto loan pricing and compensation practices. Honda’s past practices resulted in thousands of African-American, Hispanic, and Asian and Pacific Islander borrowers paying higher interest rates than white borrowers for their auto loans, without regard to their creditworthiness. As part of today’s order, Honda will change its pricing and compensation system to substantially reduce dealer discretion and minimize the risks of discrimination, and will pay $24 million in restitution to affected borrowers. 

“The CFPB is committed to creating a fair marketplace for all consumers, and other auto lenders should take note of today’s action,” said CFPB Director Richard Cordray. “Honda’s proactive decision to move to a new pricing and compensation system demonstrates industry leadership and represents a significant step towards protecting consumers from discrimination.” 

Networking at Conference or Events

As we approach the Summer months where there are often events, conferences and more consider taking this approach at your next event. This comes from Ellen Reddick with Impact Factory Utah, a firm that provides strategic consulting, executive coaching and speaking services.

"The prospect of walking into a business networking event or conference can be both exciting and daunting. By utilizing a few key social skills for business, these events can become more manageable and allow for real growth for you personally and your client list. 

The first step takes place before you even arrive at the convention center or conference hall. The promises of legendary speakers and hoards of contacts often leave attendees overwhelmed. Go in with realistic expectations: you won’t be able to meet all the attendees, and nor should you. Rather, you should focus on meeting a handful of people from similar businesses and try to build meaningful relationships with these individuals. Your goal should not be to collect a stack of business cards but to make real contacts that will further your career.

Mobile Phone Etiquette

As small business owners, the mobile phone is one of our most important tools. So important, that we may forget that “anywhere and everywhere” is not our office.

As your business grows, it’s not just your own behavior with a cell phone you have to think about. You also have to make sure your employees exhibit professionalism, stay safe and present a positive public image of your business while using mobile devices.

1. Move 10 feet away if you must take a call. If you must take a call when you are face-to-face with someone, first excuse yourself politely with a brief explanation as to why the call is especially urgent and can’t wait. Then, move to a location where you can respect the personal space of others. Some recommend that you move at least 10 feet away from others.

Ideally, though, you should avoid interrupting a face-to-face conversation to take a cell phone call. Interrupting the party you are with sends a message that he or she is less important than the caller.

UCDU to Partner with Scionetix

Dated May 28, 2015, Salt Lake City, UT, The Used Car Dealers of Utah announced today that they are partnering to provide their members a reliable defense for on-site computer systems and networks against intrusion attacks. The partnership agreement is with SCIONETIX, LLP, a Utah-based Network Security Company.  SCIONETIX, LLP will secure for participating members their on-site computer systems and networks.  They will also provide a reliable defense against data intrusion attacks and sensitive information, as well as viruses and malware.

“Companies with small business networks are under attack today like never before.  Hackers are using sophisticated and automated devices to indiscriminately probe thousands of IP addresses each day across the web”, says SCIONETIX Owner and Manager, Tom Anderegg.  “Today’s cyber criminals are looking for one thing, vulnerabilities.  If they find them, they exploit any weakness to see how far into a system they can get.  This causes havoc that is often fatal to the business.”

Network Security 101

By Tom Anderegg CMO and Brad Lindsay, NSA,  SCIONETIX, LLP

When Teresia (not her real name) arrived for work recently, her business’s network security was the furthest thing from her mind.  Sitting at her desk, she had a basic knowledge of common-sense practices which she felt confident would be sufficient to keep her business safe.  She wasn’t the type to download dubious content from the web or employ weak passwords.  She regarded her computer as a no-nonsense work tool that was essential for her to accomplish her duties as the CFO for her small, Midwest specialty manufacturing company.  What she didn’t know was that along the way, a little piece of malware had slipped into her PC.  This hidden piece of program would soon threaten her company’s survival.

Teresia’s malware did one simple thing: It caused her browser to redirect all her bank communication to a set of phony websites that looked just like their legitimate counterparts.  When she logged into the look-alike website, yielding her username and password, a message appeared prompting her to call customer service about a problem with the company’s account.  Trustingly, she dialed the number on the screen and after a few simple questions from the phony agent on the line, her company’s bank account was drained.  More than $300,000, gone in minutes.
Disaster?  You bet!  And like the mark of a well-played con, she was left holding the bag.
As a business owner, you may think, “This probably won’t happen to me.  I’m too small.”  However, the New York Times recently reported that, “Gartner Research estimates that more than 10% of small businesses have had funds stolen from their bank accounts—losses totaling more than Two Billion Dollars.”

Now, here’s the point:  Small business owners can no longer rely on security through obscurity.  Information and network security is a need of every business owner today and survival as a business depends upon it.  The National Cyber Security Alliance reports that 60% of small businesses, having fallen victim to cyber-crime go out of business within 6 months.  Recovery is just too expensive and the detriment to reputation and brand are irreparable.   For instance, the most current Verizon Data Breach Investigation Report, for the first time ventured to quantify the cost of a security breech:  “$52,000 to $87,000 per 1000 pieces of information.”  The thing we all need to recognize is that the cost of securing a business network is penny’s-on-the-dollar compared to recovering after an attack.
The good news is there are things you can do to protect your business network that are both affordable and sensible.

2015 Dealer License Renewal

By now you should have received your 2015 Dealer License Renewal information or you should be receiving it in the next few days. Last year was the last year you received a mail reminder to renew your MVED business license. Everyone should renew via the website mvp.tax.utah.gov website as you did last year. The owner of the organization should have set up an account for the new system last year. If you do not have the log-in information please contact MVED at 801.297.2600. 

MVED no longer needs a copy of the renewal confirmation page. They will be able to see the renewal 24 hours after you renew online. If you have plates please be sure to send MVED proof of current insurance as your renewal will just sit in a hold status until after they have received your proof of insurance for the business plates.

You will not be able to go in and wait for the renewal to be processed. All renewals will be processed within a few days of receipt and MAILED back to you.

Also please note that all MVED licenses must be renewed by June 30th. If you fail to renew your license online by the designated time (June 30th), you will be required to come into the MVED office and complete physical paperwork. Also note that the 3 Hour Dealer Training is required with your license renewal. This can take up to 24 hours to show in the MVED system so don't delay your education to the end as well. You can complete your dealer renewal education online with IDS at www.idsinfo.com or with one of their many in-person classes or Home Study Course.

New Standard Mileage Rates Now Available; Business Rate to Rise in 2015

WASHINGTON — The Internal Revenue Service today issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

• 57.5 cents per mile for business miles driven, up from 56 cents in 2014
• 23 cents per mile driven for medical or moving purposes, down half a cent from 2014  
• 14 cents per mile driven in service of charitable organizations

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil. The charitable rate is set by law.

Taxpayers always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates.

A taxpayer may not use the business standard mileage rate for a vehicle after claiming accelerated depreciation, including the Section 179 expense deduction, on that vehicle. Likewise, the standard rate is not available to fleet owners (more than four vehicles used simultaneously). Details on these and other special rules are in Revenue Procedure 2010-51, the instructions to Form 1040 and various online IRS publications including Publication 17, Your Federal Income Tax.

Besides the standard mileage rates, Notice 2014-79, posted today on IRS.gov, also includes the basis reduction amounts for those choosing the business standard mileage rate, as well as the maximum standard automobile cost that may be used in computing an allowance under a fixed and variable rate plan.