Articles for Legal & Accounting Experts
Sunday, December 09, 2007
Ron Smith - Firms that specialize in the auto industry often have extensive access to networks of dealer attorneys throughout the United States, who regularly exchange information about issues and cases facing their clients...
Thursday, November 29, 2007
Thomas B. Hudson, Esq. - The Texas Supreme Court found that Gullo Motors’ fraudulent actions merited exemplary (punitive) damages, but that the $125,000 remittitur exceeded the constitutional limits on exemplary damages...
Tuesday, October 30, 2007
Thomas B. Hudson, Esq. - You will recall that the most potent weapon that plaintiffs’ lawyers can bring to bear is a state “unfair and deceptive acts or practices,” or “UDAP”, law. Nearly every state has such a law, and Maryland, my home state, is...
Monday, October 22, 2007
David Keller - Projections should be completed as if you have sold the notes to an RFC so you can review the effect on net income, cash flow, net worth, working capita, and other factors that are important to the operations and health of your dealership...
Friday, September 21, 2007
Thomas B. Husdon, Esq. - The estimated cost to disassemble the engine was $1,500. Van Eman believed that C.A.R.S. had no intention of honoring the limited warranty and would continue to demand additional tear down and diagnosis until...
Tuesday, September 18, 2007
David Keller - Accounting for the different types of car deals generated from your F&I programs is important if you want to completely understand your business operations and the resulting effective gross profits...
Sunday, August 19, 2007
Thomas B. Hudson, Esq. - Just as any good car salesperson will know the mechanical and performance specifications of the vehicles, the salesperson should know the characteristics, terms and conditions of the financing, leasing and related services.
Friday, August 17, 2007
Dave Keller - Gross-profit percentages are very important if you want to show a profit in the service and parts departments. You should set your goals to achieve 70 percent for labor and 40 percent for parts...
Saturday, August 04, 2007
David Keller - Most agreements promise to bring individuals to your dealership for a desk person, F&I manager and a closer during the sale. Usually, the length of the contract is for the sale period...
Friday, July 27, 2007
Thomas B. Hudson, Esq. - The relative rarity of these transactions doesn’t faze the NCLC, or, for that matter, the press. They know a good, catchy (and loaded) headline phrase when they hear one. So, they call every conditional delivery transaction...
Wednesday, July 11, 2007
Thomas B. Hudson, Esq. - In addition to the installment contract, the Pattons signed a “Purchase Spot Delivery Agreement” stating that the Pattons were taking possession of the minivan before approval of financing and that Wyler Eastgate could...
Tuesday, July 10, 2007
David Keller - The IRS has stated that it believes tax return accuracy is at one of the lowest points in history. This indicates that they will be trying any and all means available to tighten compliance with the law in whatever manner they can...
Monday, June 11, 2007
Thomas B. Hudson, Esq. - Lately, plaintiffs’ lawyers have convinced a few courts that requiring a consumer to waive class relief is “unconscionable” and is reason enough for courts to refuse to enforce the arbitration agreements...
Tuesday, June 05, 2007
David Keller - The best way to evaluate your business is to study the history of your industry. Learn why some businesses have failed when others have succeeded, then think through how you would have reacted in similar situations.
Wednesday, May 16, 2007
Thomas B. Hudson, Esq. - Most states have such a law and the laws are particular favorites of plaintiffs’ lawyers. Why? Because they usually provide for a doubling or tripling of the plaintiff’s damages and provide for an award of...
Friday, May 04, 2007
David Keller - Let’s discuss your dealership’s net worth. Do you have any? If so, how much is it? Most dealers don’t even look at their change in net worth from month to month or year to year...
Thursday, March 29, 2007
Thomas B. Hudson, Esq. - In this case, the 9th Circuit held that an investment bank that merely loaned money to a lender could be held responsible for the misdeeds of the lender...
Wednesday, March 28, 2007
David Keller - Your bank, auction and vendors consider you a finance customer every day. So, how is your credit rating with them? If you take a look at the financial status of your dealership, ...
Friday, March 02, 2007
Thomas B. Hudson, Esq. - You can’t always tell from these self-serving AG press releases what actually went on – the AGs tend to report on the things that show how diligent they are at protecting consumers...
Monday, February 19, 2007
David Keller - You have to manage cash. You can’t manage your business from how much cash you have in the bank or how much sales revenue you can produce...