June 2007

100,000 Challenge

- 5 ratings

Sales are down, but Gross Profit Continues to Rise - Must Read

Peter Salinas - page 24

It’s been an up and down month at Ertle Brothers Discount Autos in Sterling, Colo. Sales were down 3 percent, but gross profit climbed an impressive 97 percent.

back to top

Our Point of View

- 1 rating

Is This the Service Department? Can You Help Me Out? - Featured

Peter Salinas - page 8

I am one of those people who loves cars, but can’t do much outside of change a flat tire, an air filter or add oil or gas. It wasn’t until my first year in college that I undertook my first — and only — ambitious auto repair.

back to top

Online Best Practices

- 11 ratings

The Secret to Dealer Advertising that Makes Money - Featured

Eddie Coleman - page 32

Creativity and stress don’t mix. The first insight to being effectively creative is to understand that real creativity and stress cannot occupy the same space at the same time. Sure we’ve all seen someone blow out an idea or two under pressure, but doing so always leaves lots to be desired. We always come up with our best ideas when we are relaxed. Some of the best occur on vacation. To learn more about the secret go to www.hyperdrivetech.com/opportunity.

back to top

Corner Office

- 7 ratings

Attention Dealers! The Bell is Tolling - Featured

Chris Leedom - page 4

I am going to address what we see as a very serious topic. It is so important I have asked our editor to look at our upcoming issues to dedicate an upcoming installment of Dealer Business Journal to this important topic. It is one I think all dealers need to wake up and seriously ponder. It is an issue that sooner or later will likely come to haunt almost every dealer reading this article. I have even coined a new phrase to address it — the issue is that of the predatory litigator.

back to top

Buy Here - Pay Here

- 70 ratings

The Truth About Reposessions - Must Read

Chuck Bonanno - page 6

Everyone seems to be searching for the secrets to eliminate repossessions and charge-offs in the buy here-pay here business. They look to scoring models, starter-interrupt devices, GPS devices, superior software and other technologies to solve the problem.

back to top

Industry Articles

- 3 ratings

Leedom to Conduct Special Finance Seminar in Florida

Industry Releases - page 21

SARASOTA, Fla. — Due to the economic pressures on the American consumer — high fuel prices, the decline of the U.S. housing market, huge borrowing concerns and a rise in bankruptcy filings – the automotive retail subprime market has grown dramatically in recent years.

back to top

- 16 ratings

New Car Franchise Dealer Dedicates 100% of His Resources to BHPH - Must Read

Peter Salinas - page 38

here store owner, Jim Schrull, has some pretty lofty goals. By the end of this year he plans to move from owning four stores in Georgia to owning and operating 12-16 stores in five states in the Southeast.

back to top

Service

- 1 rating

Service Penetration

Marty McNulty - page 29

Every one in the automotive business knows when their service and parts business is operating poorly. We look out the door and do not see any traffic coming into the service and parts departments. Our well-honed investigation abilities work immediately.

back to top

- 4 ratings

Service Productively Efficient - Featured

Tom Lacey - page 20

Finally, a subject I can relate to-service! I talked with dealers around the country about this subject many times. Whether it is the question “Should I get into the service business?” or yet another “How can I get more out of my service department?” almost everyone wants to know more about the fixed operations. Let’s make the assumption you have a service department. With that, we’ll tackle how to get more out of your existing service department.

back to top

Hudson Cook, LLP

- 3 ratings

No Actual Damages Equals No ECOA Recovery - Featured

Thomas Hudson - page 28

In a spot delivery gone bad, James R. and Tricia M. Bertin sued Grant Automotive, Inc., claiming that Grant Automotive violated the Equal Credit Opportunity Act, the Illinois Consumer Fraud and Deceptive Business Practice Act, the Illinois Uniform Commercial Code and the common law tort of trespass to chattels or conversion.

back to top

Compliance Corner

- 4 ratings

Free-Range Finance - Featured

Emily Beck - page 30

I’m an indiscriminate carnivore, and as far as I’m concerned, salad is what food eats. But, free-range food is all the rage where I live in Washington D.C. According to Wikipedia, the free-range “principle is to allow [animals] as much freedom as possible, to live out … instinctual behaviors in a reasonably natural way, regardless of whether or not they are eventually killed…” I suppose folks feel much better about chowing down on 10-cent wing night if they know their feathered friends joyfully roamed this planet before meeting the Big Chicken in the sky.

back to top

Learn to Lead

- 6 ratings

You Can't Afford the 'Hot-Head' Curse - Featured

Dave Anderson - page 16

Coach Bob Knight led Indiana University teams to three NCAA championships and is one of only two college coaches to have more than 800 victories. Like him or not, these credentials make him one of the greatest basketball coaches of all time. However, he also has a reputation for violent outbursts of temper directed at both players and referees and is known for throwing chairs. In fact, my guess is that when you first read the words “Coach Bob Knight” in my opening sentence your thoughts were not about his won/loss record or three championships but his unstable disposition. And so it goes for all leaders who are hotheads. Of all the traits you can be known and remembered for being a “hothead” is the one that will follow you forever and wherever you go. It fact, it can take years of calm and decorum to even begin to shake the hothead label. If you’re a hothead, here are a couple of tips on dealing with your curse. If you’re an even tempered, emotionally stable leader who knows a hothead, make sure that person gets a copy of this newsletter.

back to top