Used Car Dealer News

People Skills You Need To Succeed At Work

noreply@blogger.com (Unknown) — Fri, 29 Jan 2016 18:30:00 +0000

Do you think you’re qualified for a particular job, fit to lead a team, or entitled to a promotion because you have extensive experience and highly developed technical skills? Well, it turns out that while those things are crucial to your professional success, it’s imperative that you also have great soft skills–more commonly known as “people skills.”

People skills are, in short, the various attributes and competencies that allow one to play well with others. While on the surface these may be summed up by notions such as ‘likeability,’ or having a ‘good personality,’ when you start to look at what makes one ‘likable,’ for instance, you’ve opened Pandora ‘s Box.” But more often than not, these attributes come in the form of effective, accurate and persuasive communication, he says.

People skills come down to how people interact with each other, from a verbal and/or non-verbal perspective; they are non-technical in nature. When we think of people skills, words such as personality, empathy, and tonality come to mind.

Wise managers know that they need a team with strong people skills, she adds. Given the choice between a savvy job candidate or, similarly, an employee seeking promotion – the one with excellent people skills and less technical ability will usually win the prize versus the converse. Having good people radar is harder to teach than technical skills, but is a requisite for long term, effective leadership, she says.

The people skills and attributes you’ll need to succeed at work:

1. The ability to relate to others. Having the ability to relate to others and their position or viewpoint is crucial in business. By having a well-rounded personality and set of experiences, it’s usually possible to relate to almost anyone. Sometimes being able to relate to others simply means that you’re willing to agree to disagree with mutual respect; letting them know you understand their position.

2. Strong communication This is the most fundamental people skill because it encompasses your persona and ability to get along with other colleagues, persuade others to listen to your ideas, and much more. If you have a gift for the spoken and written word, you will always put your best foot forward. Being articulate is highly prized in today’s workplace, when time is at a premium and technology requires constant communication.

3. Patience with others. If you’re patient with others and can keep a level head in stressful situations, it will definitely be noticed by management and perceived as a very strong asset.

4. The ability to trust others. You can only accelerate your career if you’re trustworthy. Without it, you can’t get projects done or get cooperation, no one can operate in a vacuum for long.

5. Knowing how and when to show empathy. Having the ability to place yourself in someone else’s shoes is a key people skill. Offer support, sympathy and feedback in your daily business life, it will bring you positive emotional returns – part of ‘corporate karma. If you contribute to a dehumanized company, both you and your employer will have limited growth potential.

6. Active listening skills. Hearing someone and actively listening to them are two different things. Most people hear someone speak and start to form a response in their mind (or worse, starting talking) before the person finishes what they’re saying. The key is to actively listen, which takes more time but produces better results. It means you listen without interruption and then take the time to think and form a response before replying. It takes practice, but it pays off.

7. Good judgment. Good judgment is a key people skill that comes directly from learning, listening to others and observing the world around you. It allows you to wisely select friends and associates, determine reactions and responses, and make sound decisions.

Pay attention to your intuition, it often has something valuable to say.

8. The ability to persuade others. There’s a good chance that at some point in your career you’ll have to sell others on your ideas, products or services. Whether you’re up for a promotion, pitching a project, or selling clothing in a retail store, you need to be able to form a strong, convincing argument for why you, or your products, are the very best, or the “right” one.

9. Negotiation skills. Good negotiating skills are beneficial with both internal and external discussions. Internally, job offers and salary discussions greatly benefit from solid negotiating, as well as when it’s time to pitch a new idea or sway coworkers to your way of thinking. Externally, both vendors and customers often require negotiations and you can really become the hero when you are successful in either scenario.

10. The ability to keep an open mind. To create trust and respect in others, people need to know that their point of view and feedback will be considered and used. Being known as someone who keeps an open mind also makes you more approachable and easier to work with.

11. A great sense of humor. Who doesn’t enjoy laughing? It’s ‘the great diffuser’ of tension and conflict. If you can jam the system of tension or routine with levity, you will thrive in your job.

12. Knowing your audience. Knowing what, how, and when to say things to others is critical. For example, if someone just loss their job, it’s probably not a good idea to talk about your promotion. This seems trivial, but it’s one of the primary reasons why people encounter communication breakdowns with each other.

13. Honesty The saying, “honesty is the best policy” is not only true, it’s essential in building trust among your colleagues. Once you lose it, it’s almost impossible to regain.

14. Awareness of body language. The importance of body language cannot be emphasized enough, since it makes up the majority of how we communicate with others. The reality is, we’re communicating with people all the time even when we’re not speaking. Being mindful of what our gestures, expressions, voice, and appearance are communicating can greatly help or harm our people skills.

15. Proactive problem solving. Work is a series of problem solving situations, but if you’re proactive, you’ll take the pressure off your boss and colleagues. This is a great people skill to have in the workplace.

16. Leadership skills. If you can motivate a team and help those around you do their best work, you’ll be more successful even if you’re not in management.

17. Good manners. “Using ‘please’ and ‘thank you’ goes a long way in the realm of people skills. While seemingly obvious, some need little reminders. Keeping a post it with a smile or another icon can remind us that work is more than getting something accomplished, it’s how we get it accomplished.

18. The ability to be supportive and motivate others. People want others to believe in them, regardless of how successful they might be. By showing support in the form of encouragement, you can put someone back on track or keep them headed in the right direction.

19. Transparency : If you spend each day in a workplace full of dishonest people, double standards and a lack of communication, it's time to dust off your resume and look for a better job. A transparent workplace, on the other hand, features benefits that can lead to happier employees and even increased production. The key to transparent workplaces is openness between supervisors and employees. A transparent workplace shares many traits with a functional marriage or strong friendship. Communication is not only important among co-workers, but is a key to healthy relationships between supervisors and their employees. When the leader of a workplace acts in a transparent manner, the workplace and its employees benefit in several ways, according to Forbes. The results may be faster problem solving, better teamwork, healthy working relationships, trust and, ultimately, improved performance. Conversely, performance can suffer from a lack of transparency from the employer.

Ellen Reddick

801-581-0369

Ellen@impactfactoryutah.com

UCDU Gives Back To The Community

noreply@blogger.com (Association Solutions) — Wed, 23 Dec 2015 19:37:00 +0000

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

noreply@blogger.com (Association Solutions) — Tue, 22 Dec 2015 18:20:00 +0000

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

noreply@blogger.com (Association Solutions) — Tue, 22 Dec 2015 18:18:00 +0000

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

noreply@blogger.com (Unknown) — Mon, 20 Jul 2015 17:33:00 +0000

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.”

The military discretionary allotment system allows servicemembers to automatically direct a portion of their paycheck to financial institutions or people of their choosing. However, military personnel using the allotment system instead of other automatic payment options like ACH (Automated Clearing House) can end up losing out on certain legal protections.

To better protect servicemembers, the Department of Defense announced changes to the allotment system last year. The updated regulations, which took effect in January, prohibit new allotments to purchase, lease or rent personal property such as vehicles, appliances and consumer electronics. The regulations do allow allotments made for the purpose of savings, insurance premiums, mortgage or rent payments, support for dependents, or investments. Military retirees and Department of Defense civilian employees were not affected by the changes.

Offering servicemembers misleading information about payment options and allowing servicemembers to pay by allotment when prohibited by the Department of Defense regulations could violate the Dodd-Frank Wall Street Reform and Consumer Protection Act’s prohibition against unfair, deceptive, or abusive acts or practices in consumer financial products or services. The Bureau will continue to look out for the interests of servicemembers and ensure compliance with all applicable federal consumer financial laws and regulations.

The letters advise the recipients that their advertisements may violate federal law, and that they should review their advertising and practices relating to military allotments. However, the Bureau’s letters are not a finding or ruling that the recipients have actually violated the law.

The CFPB has taken multiple actions to enforce consumer financial protection laws against entities whose businesses were largely premised on receiving payments from servicemembers, often through the military allotment system. In those actions, the CFPB has recovered over $100 million for thousands of consumers.

A sample letter is available here: http://files.consumerfinance.gov/f/201507_cfpb_sample-allotment-letter.pdf

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The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.

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

noreply@blogger.com (Unknown) — Wed, 15 Jul 2015 18:42:00 +0000

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.”

“We commend Honda for its leadership in agreeing to impose lower caps on discretionary markups and for its commitment to treating all of its customers fairly without regard to race or national origin,” said the head of DOJ’s Civil Rights Division, Principal Deputy Assistant Attorney General Vanita Gupta. “We recognize that dealerships perform a valuable service in connecting customers with lenders and that they should be fairly compensated for that service. We believe that Honda’s new compensation system balances fair compensation for dealers and fair lending for consumers. We hope that Honda’s leadership will spur the rest of the industry to constrain dealer markup to address discriminatory pricing.”

Resulted in minority borrowers paying higher dealer markups: Honda violated the Equal Credit Opportunity Act by charging African-American, Hispanic, and Asian and Pacific Islander borrowers higher dealer markups for their auto loans than non-Hispanic white borrowers. These markups were without regard to the creditworthiness of the borrowers.

Injured thousands of minority borrowers: Honda’s discriminatory pricing and compensation structure meant thousands of minority borrowers from January 2011 through July 14, 2015 paid, on average, from $150 to over $250 more for their auto loans.

The Dodd-Frank Wall Street Reform and Consumer Protection Act, and federal fair lending laws, authorize the CFPB and DOJ to take action against creditors engaging in discrimination. The CFPB’s order was filed today as an administrative action, and DOJ’s proposed order was filed in the U.S. District Court for the Central District of California. The measures provided in the orders will help ensure that discrimination does not increase the cost of auto loans for consumers on the basis of race and national origin. Under the CFPB order, Honda must:

Substantially reduce or eliminate entirely dealer discretion: Honda will reduce dealer discretion to mark-up the interest rate to only 1.25 percent above the buy rate for auto loans with terms of 5 years or less, and 1 percent for auto loans with longer terms. Honda also has the option under the order to move to non-discretionary dealer compensation. The Bureau did not assess penalties against Honda because of Honda’s responsible conduct, namely the proactive steps the company is taking that directly address the fair lending risk of discretionary pricing and compensation systems by substantially reducing or eliminating that discretion altogether.

Pay $24 million in damages for consumer harm: Honda will pay $24 million to a settlement fund that will go to affected African-American, Hispanic, and Asian and Pacific Islander borrowers whose auto loans were financed by Honda between January 2011 and July 14, 2015.

Administer and distribute funds to victims: Honda, through American Honda Motor Co., will contact consumers, distribute the funds, and ensure that affected borrowers receive compensation. Honda will make reports to the Bureau regarding this victim compensation activity.

The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.

Auto loans are the third-largest source of outstanding household debt in the United States, after mortgages and student loans. When consumers finance automobile purchases from an auto dealership, the dealer often facilitates indirect financing through a third-party lender like Honda. Honda is wholly-owned by American Honda Motor Co., Inc. It is one of the largest indirect auto lenders in the United States.

As an indirect auto lender, Honda sets a risk-based interest rate, or “buy rate,” that it conveys to auto dealers. Honda then allows auto dealers to charge a higher interest rate when they finalize the deal with the consumer. This is typically called “dealer markup.” Markups can generate compensation for dealers while giving them the discretion to charge consumers different rates regardless of consumer creditworthiness. Honda permitted dealers to mark-up consumers’ interest rates as much as 2.25 percent for contracts with terms of 5 years or less, and 2 percent for contracts with longer terms.

Today’s enforcement action is the result of a joint CFPB and DOJ investigation that began in April 2013. The agencies investigated Honda’s indirect auto lending activities’ compliance with the Equal Credit Opportunity Act, which prohibits creditors from discriminating against loan applicants in credit transactions on the basis of characteristics such as race and national origin. The investigation concluded that Honda’s policies:

Enforcement Action

In March 2013, the CFPB issued a bulletin explaining that it would hold indirect auto lenders accountable for unlawful discriminatory pricing. The bulletin also made recommendations for how indirect auto lenders could ensure that they were operating in compliance with fair lending laws. In September 2014, the Bureau issued an edition of Supervisory Highlights that explained that the Bureau’s supervisory experience suggests that significantly limiting discretionary pricing adjustments may reduce or effectively eliminate pricing disparities. Substantial limits on discretionary pricing like those imposed by today’s order can address the type of fair lending risk identified in the CFPB’s bulletin and Supervisory Highlights.

Today’s action is part of a larger joint effort between the CFPB and DOJ to address discrimination in the indirect auto lending market. In December 2013, the CFPB and DOJ took an action against Ally Financial Inc. and Ally Bank that ordered Ally to pay $80 million in consumer restitution and an $18 million civil penalty.

Today’s consent order is available at: http://files.consumerfinance.gov/f/201507_cfpb_consent-order_honda.pdf

The DOJ simultaneously filed a complaint and proposed consent order to settle the case. The DOJ’s announcement is available at: http://www.justice.gov/justice-news

For auto loan questions or to submit a complaint, consumers can contact the CFPB at (855) 411-2372 or visit consumerfinance.gov.

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Networking at Conference or Events

noreply@blogger.com (Unknown) — Mon, 01 Jun 2015 15:58:00 +0000

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.

Always eat before you attend an event. While the invitation may promise canapés, you don’t want to waste time hounding the waiters when you really should be focusing your attention on the other attendees and speakers. Throughout the event, avoid holding a glass in your right hand and a snack in the other. You need to be ready to shake hands with new contacts at a moment’s notice.

Chances are you will bump into acquaintances or friends. Many nervous attendees cling to their friends as a sort of security blanket. This is a mistake! The point of attending a conference or networking event is to get your name and that of your business out there to new clients and partners. While it may be easier—and more fun—to catch up with friends, you should not devote too much time to those you already know. This is your chance to shine to others, so say hello to your friends but leave the longer conversations for another time.

When talking with another attendee, be in the moment: listen to what they are saying and react appropriately. While this may seem like an easy step, it is also the most important because it determines the impression that you leave on your new acquaintance. If you are constantly looking over their shoulder to see who else is out there, you will miss the chance to make a meaningful connection with the person right in front of you! Be present and think of what you have in common or how your two businesses overlap.

Try to approach groups of three to five people. It‘s easier to slide in when there are an odd number of people involved in a conversation. Steer clear of serious topics like politics, religion, or health. By keeping the talk lighthearted—focusing on the arts, culture, food, or travel—you will be less likely to offend anyone and more likely to include everyone in the conversation. Everyone has a favorite movie or restaurant so choosing those as conversation topics is an easy way to spark a lively, yet light, debate among a group of new acquaintances.

Be aware of the amount of time that you are dedicating to each person. While it is important to give your undivided attention to the person you are speaking with, don’t feel that you have to spend the whole event with a particularly chatty contact. It’s appropriate to move on after a reasonable amount of time as long as you make a smooth and polite exit. One strategy is to summarize your understanding of their business, exchange business cards, and say that you look forward to being in touch. If the person continues talking, say that you have to see if a client of yours has arrived. Whatever the line you use, the most important thing is to be tactful, polite, and business-etiquette savvy.

The final portion of the event takes place after the last cube of cheese is eaten and all of the stalls have been folded back up. After you leave the event, follow up with the people you spoke with. Oftentimes, it is helpful to make a note on the back of their business cards, jotting down either what you spoke about or what their business goals include. In doing so, you help protect your memory of each individual, which will allow you to write a more personalized email- as opposed to a follow up phone call- after the event.

When you walk into a crowded networking event it can seem like you are an ancient explorer: you don’t know where exactly you are headed or where every conversation may end up. Some interactions may not seem completely worthwhile at the time, but you never know who will pop back into your business life some day so it is important to maintain good relationships with everyone. You should be willing and happy to offer help and advice without expecting anything in return. Think of it as a way to “pay it forward” and earn some good business karma! In doing so, you will endear yourself to a number of new business contacts and leave them with a solid first impression of you and your business.

Ellen Reddick

I am a consultant, writer, and former senior executive with more than 25 years of experience in the technology industry. I am the managing partner of Impact Factory Utah a firm that provides strategic consulting, executive coaching, and speaking services to CEOs and management teams as well as a certified mediator and facilitator. I bring a broad base of experience in people management, sales, process improvement, customer service training, project management, mediation and facilitation.

Mobile Phone Etiquette

noreply@blogger.com (Unknown) — Thu, 28 May 2015 06:32:00 +0000

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.

2. Avoid checking that smartphone in meetings. This applies to visually checking for text messages, emails and missed calls, or listening to voicemails. At best it signals that you are distracted and not giving your full attention to the meeting. At worst it says you find the people in the meeting to be boring or unimportant. If you are expecting a call from the White House at any moment — then yes, I can accept you glancing at your phone. Short of rare circumstances like that, don’t even take your mobile phone out during meetings.

3. Return calls within 24 hours. Returning calls promptly demonstrates professionalism and respect. If you will be in all-day meetings or on vacation where you can’t return calls in a timely manner, update your phone message temporarily. Just remember to revert back upon your return. You’ll sound totally out of it with a message that says you’ll be unavailable … until a week ago.

Increasingly I hear voice mail messages that request that instead of leaving a voicemail, callers send a text or an email. This is a controversial practice. It may turn off some callers, especially prospective or existing clients. To decide if it’s appropriate:

Consider the employee’s role. Most business owners I know want those in sales to be as available as possible, not hard to reach. On the other hand, for a software developer who works 90% of the time in his workspace coding, such a message may be no big deal.
Consider what’s standard in your industry. In tech businesses and online businesses, using email is far more prevalent than using the phone.

4. Know where NOT to talk. Just in case you want to provide a refresher for your team about where it’s NOT acceptable to talk, let’s go down the list:

Libraries, museums and places of worship: Shhhh… is the rule here. No talking, period.

Restaurants: avoid it. Even though there is noise in restaurants, a phone conversation stands out and disturbs others. In some restaurants you may be asked to leave – not to mention getting dirty looks from other patrons. Coffee shops, on the other hand, are noisier and more casual, and calls tend to be more acceptable in the hubbub.

Meetings, conferences and events: Make it become second nature to turn off cell phones upon entering. Set a good example. If you do this in internal meetings in your company, your staff will get used to doing it in all meetings and events.

Finally, please remember not to talk in places that involve running water and flushing.

5. Speak softly and carry a big stick. This one is for people who talk loudly on their cell phones. Oops, I mean, that you should avoid talking loudly on your cell phone. How many times have you been subjected to someone nearly shouting to overcome a bad connection? Don’t be that person.

And now … a word about using the speakerphone mode of your phone. All right, I get that you may be tired of holding your phone up to your ear. But the answer is not to use your phone’s (or tablet’s!) speakerphone mode in an open office or public place. Get a headset. Then you can carry on a long call without your arm or ear going numb, and with less disturbance to others.

6. Ditch that wild ringtone. While I am somewhat joking about this one, you might want to pick discreet ring tones versus that acid-rock ringtone you uploaded to your phone. If a phone rings while you are in an important meeting, and you forgot to shut it off, you don’t want to regret your ringtone on top of annoying everyone.

7. Avoid speaking about private matters in public places. We business owners may know this, but do our employees and independent contractors? Judging from how many times have I’ve overheard conversations in coffee shops discussing performance appraisals or confidential business deals, I’d say many teams need a refresher.

Mobile phones fool us — we forget and start behaving as if it’s just us and the person we’re talking with. As Judi Hembrough of Plantronics says, “Get out of your own ‘privacy bubble’ and pay attention to your surrounding environment.” Imagine what the party on the other end might think should they realize you’ve been discussing their sensitive matters, in a restaurant.

8. Plan ahead for good reception. In preparation for a taking or making a call outside the office, make sure you can get good cell phone coverage in that area. Nothing disrupts your ability to create rapport on an important business call more than when you keep hearing, “Could you repeat that? You broke up there.” If reception is an issue on your end, offer to find a place with better reception and call back as soon as possible.

9. Keep your mind on your driving! You realize that texting and even speaking on a call while operating a motor vehicle is a risky thing – but do all of your staff members know it’s an important issue to your company? Every year people die in vehicle accidents involving mobile devices. You endanger colleagues who are in the car with you, too — the ultimate breach of etiquette.

That’s why talking on a hand-held cell phone while driving is banned in 10 states, and texting while driving is banned in 39 states here in the U.S.

More and more companies are adopting a strict “no talking or texting while driving” policy while on company business. You need to discuss driving policies and make them part of your policy manual.

10. Secure your mobile device with a locking password. While this may seem to fall outside of basic courtesy, think about all of the information available via your phone, much of it private and referencing others. In a Honey Stick project last year involving 50 intentionally “lost” cell phones, nearly every phone’s private information was accessed by the person who found it — whether with innocent intent or not. Lose your phone, and it’s like revealing all your company information and personal information to boot.

Ellen Reddick

teams as well as a certified mediator and facilitator. I bring a broad base of experience in people management, sales, process improvement, customer service training, project management, mediation and facilitation.

UCDU to Partner with Scionetix

noreply@blogger.com (Unknown) — Thu, 28 May 2015 06:29:00 +0000

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.”

Keeping a network system secure in today’s environment should be the concern of every small business owner. The first challenge is for busy business owners to find the time to inform themselves on the level of security they have. Too many businesses are unsure and fall victim to falsely thinking they are too small for anyone to worry about. “Companies today, no matter how small, can no longer rely on security through obscurity,” Anderegg says.

With both State and Federal regulations dictating so much of the auto dealer’s business these days, it is increasingly important for each individual business to secure all sensitive and valuable data. They need to have a viable “Red Flag” compliance policy in place, and to take sensible measures to make certain they don’t have vulnerabilities in their networks. Any vulnerabilities can be easily exploited by an unscrupulous employee or outside adversary.

The Used Car Dealers of Utah has partnered with SCIONETIX to provide a security assessment. This valuable service, if followed, will give them essential protection.

Network Security 101

noreply@blogger.com (Association Solutions) — Tue, 19 May 2015 21:20:00 +0000

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.

1. Do an assessment to identify vulnerabilities and exposures.

The first step for any attacker is to find network vulnerabilities by scanning for exposures. One of the best ways to see just how secure your network is, is to do the same thing that an attacker would do -- scan your network. A thorough assessment of your network will give you a firm understanding of any vulnerabilities you may have. By assessing your network with the same tools that security researchers (and attackers) use, you'll see what they see. There are reputable network security firms that can accomplish this for you and present you with detailed reports that will give you the information you need.

2. Create a plan to remediate vulnerabilities.
Once you have the findings of a network vulnerability assessment, create a plan to patch and fix these vulnerabilities as soon as possible. Prioritize your solutions by severity to your network. Do not procrastinate repairing or patching vulnerabilities that are identified. Correction is usually not difficult and is essential to your business’ defense.

One of the first things any attacker will look for is open ports. Ports are the mechanisms by which your small business network opens up and connects to the wider world of the Internet. A hacker sees an open port as an irresistible invitation for access and exploitation. After your assessment, your network security professional will lock down ports that don't need to be open as well as patch other vulnerabilities that may be identified.

3. Install a Firewall.

A properly configured firewall acts as the first line of defense on any network. The network firewall sets the rules for which ports should be open and which ones should be closed. The only ports that should be open are ports for services that you need to run.

In addition, a good firewall needs to provide visibility into your network to allow you the transparency you need to know what is going on. This includes Intrusion Detection System (IDS) technology, email filters as well as internet traffic filters. Monitoring this and looking at it at least monthly can play a key network security role. One of the best solutions for the firewall question is a Unified Threat Management (UTM) firewall.

There are many desktop firewall applications available today as well, but don't mistake those for a substitute for an adjustable firewall that sits at the primary entry point to your small business network. You should have a firewall sitting right behind where your network connectivity comes into your business to filter out bad traffic before it can reach any desktop or any other network assets.

4. Be aware and manage passwords.

Having a firewall is important, but it's never enough to simply drop it into your network and turn it on. Change your passwords periodically and use combinations of numbers, symbols and letters to make them difficult to break.

One of the most common mistakes in configuring network equipment is keeping the default password. It's a trivial matter in many cases for an attacker to identify the brand and model number of a device on a network. It's equally trivial to simply use Google to obtain the user manual to find the default username and password.

Take the time to make sure you use unique passwords on all your network equipment and don’t hesitate to change them periodically to keep them safe.

5. Update Frequently.

Equipment, just like applications and operating systems, needs to be updated for security and bug fixes. The firmware that your small business router and/or firewall shipped with is likely out-of-date within a year, so it's critical to make sure you update it.

Often when researchers discover a vulnerability they keep the information private until the manufacturer has released a patch to solve it. By keeping updated on patches you can keep your system safely ahead of many vulnerabilities before the information is released to the public.

Finally, regular backups are essential in the event of an attack, fire or natural disaster. It is a simple matter to purchase a backup drive and keep your system backed up periodically. As a rule of thumb, the more often, the better. Ideally, your backup should be done to an off-site location which makes a cloud backup a viable option.

Your Network Can Be Secured.

Your business may be small, but you can use these tips to help secure your network. Though hackers don't discriminate against small business, they do tend to target the low-hanging fruit and the easier targets.
Lock down your network by making sure vulnerabilities and exposures are eliminated and corrected. If patches are available, use them. With a properly configured firewall, your network can be secured. Understand your own internal network and with these tools, you'll be ten steps ahead of the low-hanging fruit.

2015 Dealer License Renewal

noreply@blogger.com (Unknown) — Fri, 15 May 2015 21:38:00 +0000

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

noreply@blogger.com (Unknown) — Fri, 02 Jan 2015 22:47:00 +0000

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.

2014 Dealer License Renewal Update

noreply@blogger.com (Association Solutions) — Fri, 06 Jun 2014 21:51:00 +0000

By now you should have received your 2014 Dealer License Renewal information. This is the last year you will receive a mail reminder to renew your MVED business license. Everyone should renew via the new website mvp.tax.utah.gov You will then receive email renewal reminders each year. The MVP access must be started by the OWNER(S) of your company. An employee should not be using the owner’s personal information to set up a log in. The owners are responsible for who can access the MVP account.

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.

Read more on the MVED May 2014 Newsletter (Download Now - PDF)

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.

Dealer Inventory Exemption from Property Taxation

noreply@blogger.com (Association Solutions) — Mon, 23 Dec 2013 23:32:00 +0000

As we near the beginning of 2014, many dealers have received the annual dealer inventory exemption notices from their county assessors. Please make sure that you complete the inventory list and application and return it to your county assessor in a timely manner. Salt Lake County requires that each page of your inventory you return, be signed and notarized. Please pay special attention to your county requirements, as each county can be somewhat different. If you have specific questions regarding your county requirements, please contact your county assessor.

A link (PDF) to the Salt Lake County notice is provided below.
2014 Dealer Inventory Exemption from Property Taxation Pursuant to Utah Code Ann. 59-2-1114 (Sup. 1991)

2014 Standard Mileage Rates for Business, Medical and Moving Announced

noreply@blogger.com (Association Solutions) — Sat, 07 Dec 2013 07:46:00 +0000

WASHINGTON — The Internal Revenue Service today issued the 2014 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, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

56 cents per mile for business miles driven
23.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations

The business, medical, and moving expense rates decrease one-half cent from the 2013 rates. The charitable rate is based on statute.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously.

These and other requirements for a taxpayer to use a standard mileage rate to calculate the amount of a deductible business, moving, medical, or charitable expense are in Rev. Proc. 2010-51. Notice 2013-80 contains the standard mileage rates, the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.

TransFirst Offers UCDU Members Great Credit Card Processing Service

noreply@blogger.com (Unknown) — Thu, 22 Aug 2013 17:16:00 +0000

The Used Car Dealers of Utah is pleased to offer payment processing services from TransFirst^® as part of its member benefits. TransFirst’s innovative products and 24/7, U.S.-based merchant support are part of a comprehensive program that can help members like you save money and grow your business. TransFirst offers UCDU members a free merchant statement analysis to see how much you may be able to save. With an A+ rating from the Better Business Bureau, you can trust TransFirst to create a program that works for you. Some of TransFirst’s benefits include:

· Ability to process major credit cards, debit cards and ACH

· State-of-the-art security and data protection technologies

· Wired, wireless, mobile and Internet-based processing options

· Industry-compliant processing equipment and software

· Pricing structures for businesses of every size

· Comprehensive online reporting available 24/7

For more information please call 800-613-0148 or visit us as http://www.transfirstassociation.com/niada

CAR Financial St Louis Branch Opening

noreply@blogger.com (Unknown) — Tue, 06 Aug 2013 05:07:00 +0000

CAR Financial Services has opened a new office in St. Louis, marking its 17th domestic office plus two international locations.

CAR’s expansion plans are in full gear, and more offices are set to open later this year and early in 2014.

“We are expanding into territories that have historically been high performers in the buy here-pay here marketplace,” said Rick Potter, President of CAR Financial. “This opening and those coming soon will bring our local point of presence, financial expertise and genuine customer service that will make an immediate impact for the dealer base in these areas. We are excited about our domestic and international expansion plans.”

Bob Coon, a veteran of the financial services industry, will manage the office. Coon joined CAR two years ago following a long career with Wells Fargo Financial. The office is located at 9717 Landmark Parkway along the I-270 St. Louis beltway.

“Bob brings a great skill set and a can-do attitude to the dealers in his market and we were lucky to be able to bring him on board,” Potter said. “He is a go-getter in every sense and he is excited to be able to serve the buy here-pay here dealer community in the St Louis and surrounding markets.” Potter continued.

CAR Financial has a proven track record of over 20 years in the Auto Finance industry. They can help you survive difficult economic times by customizing a purchase/service program that meets your needs while providing quality service through a single point of contact that is located near your dealership. They strive to understand your day to day business so that they can structure a program designed to meet your long term goals and objectives. Whether floorplans to fund your buy here-pay here operation, purchasing a stream of payments, purchasing all or part of your accounts outright either in BULK or at POS, or simply servicing your buy here-pay here portfolio, the trusted professionals at CAR Financial are interested in working with you to meet your dealership needs.

CAR Financial Services, Inc. ("CAR") services both independent automotive dealers and automotive sub-prime financial organizations. CAR operates in 45 States and is continually evolving its programs to meet the ever changing needs of those we serve. Our strengths lie with our experienced and professional employees, our dedication to technology and a tradition of over 20 years of quality service.

Interested in more information on any of our programs and services?
Visit us online at www.carfinancial.com or call 877-570-8857.

Wills & Living Trusts

noreply@blogger.com (Unknown) — Tue, 11 Jun 2013 04:31:00 +0000

Living trusts are created with a clearly defined objective: to avoid probate. Misconceptions about living trusts have spread to the point where people think they can accomplish much more than they really do. Here is a realistic assessment of living trusts.

If you fear probate, consider a living trust. If you worry about your will being contested or your heirs fighting over your assets, a revocable living trust may be your best option.
You fund a revocable living trust with all, or largely all, of your assets during your lifetime. The trust owns the assets, yet you can still use these assets while you live. Once you die, the revocable living trust becomes irrevocable and the trust assets are distributed according to your wishes by designated successor trustees, exempt from probate.1,2,3
In addition to giving you more control and privacy, a living trust may save your heirs time and money. An AARP survey finds that it takes roughly 18 months to distribute the typical estate because of probate. Settlement costs from probate may eat up as much as 5% of an estate.1,2

Living trusts do not reduce taxes. Assets within a living trust are fully taxable at the federal and (generally) state level. Unless someone has drafted the trust to include tax-saving provisions, it will offer no particular estate or income tax advantages to the grantor or the beneficiaries.4

Living trusts lead to a lot of paperwork. As the trust has to become the legal owner of your assets to be effective, the title needs to be changed on those assets. That means filling out myriad forms and revising others. Expenses may be incurred along the way.4

Living trusts do not relieve trustees of their duties. When a grantor of a living trust passes away, the language in the trust document will not magically “do all the work” for the successor trustee. While a successor trustee will usually not have to deal with probate, other responsibilities remain. Titles will need to be changed and appraisals may be necessary.5

A living trust is not necessarily inexpensive. A lawyer may charge you $1,500 or more to create one. If you have significant assets and fear a dispute over your will, it may be worth it.2,6

There are living trust solutions available on the Internet, or via books or software. However, when cutting and pasting boilerplate language and filling in some names here and there, what kinds of legal and financial risks are you taking?6

While having a living trust drawn up with the help of an attorney is certainly advisable, paying a fee is no guarantee of competence; amending simple errors could cost you another $300-500.7

A living trust is not a will. You still need a will when you have a living trust. In fact, you are probably going to need a “pour-over” will down the road, assuming you will keep accumulating assets after the trust is drawn up. A pour- over will place these stray assets into the trust.4

Additionally, you will want a will if you wish to make charitable bequests or gifts to friends or relatives upon your passing, as a living trust may not carry out these gifts on your behalf. A will is also the way to name a guardian for any minor children.4

A living trust is not a living will, either. A living trust does not function as a health care directive or a power of attorney. These are separate estate planning documents. While some families ask attorneys to create them concurrently with a living trust, a living trust won’t stand in for them.8

While living trusts are highly touted and can be highly useful, that does not mean every family should get one.

You may not need a living trust to begin with. If your financial life has been largely free of “creditors and predators” and your estate isn’t complex, a thoughtfully drafted, well-executed will could prove sufficient when the time comes. For some middle-class families, a living trust can be like a fifth wheel on a car, seemingly providing added stability but hardly necessary.
After all, not all assets are subject to probate when someone passes away: IRA, Keogh and pension plan savings, life insurance death benefits, checking and savings accounts that have POD beneficiaries, Treasury bonds, and property owned jointly with the right of survivorship.4

In terms of time, often there isn’t much difference between distributing assets via probate and through a living trust. In terms of savings, the filing and court fees that come with a probated will may not be that onerous. While the fees may total a small percentage of the value of the estate, the executor may decline a commission if he or she is a family member and require only hourly legal advice.

A living trust isn’t the only type of trust out there. Some families opt for the testamentary trust. Assets move into this basic, irrevocable trust as directed in a grantor’s will. As the grantor’s will directs the assets, the estate still proceeds through probate but more expediently than usual. Other families opt for more complex and specialized trusts.2

As a reminder, this article is intended as an overview of living trusts, and not any kind of legal advice. Keep in mind that laws and other particulars may vary depending on your location and the firm you are working with. If you are considering a living trust or another kind of estate planning vehicle, the best “first step” is to talk to an attorney before you proceed further. If you need a good reference let me know, I can refer you to a member of my team.

Mark Lund is an Independent Investment Advisor, Investor Coach and author of The Effective Investor. Mark has written articles for or been quoted in The Wall Street Journal, The Salt Lake Tribune, The Enterprise Newspaper to name a few. To get a free report, “9 Investing Mistakes To Avoid” go MarkLundonMoney.com Investment advisory services through Stonecreek Wealth Advisors, Inc. a Registered Investment Adviser firm in Utah.

Provided by Mark K. Lund, Independent Investment Advisor & Investor Coach

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Long Time Member Howard "Sherm" Sherman Passes Away

noreply@blogger.com (Unknown) — Fri, 07 Jun 2013 05:19:00 +0000

Howard Orson Sherman, “Sherm” passed away peacefully surrounded by his loving family early Friday morning May 31, 2013, his favorite time of day, to begin his new journey.

He was born March 24, 1931 in Ogden, Utah son to Trueman Carl and Fushia Olea Bybee Sherman. As a graduate of Ogden High School, Sherm put away his basketball and enlisted directly into the United States Navy in December 1949 serving his country during the Korean War from 1950 to 1954. As a Cryptographer Decoder, he received full military honors ranking Petty Officer 3rd Class in Communications. Upon his return, he studied engineering at Weber State College....

Read the Full Obituary

Our condolences go out to the Sherman Family. Thank you "Sherm" for making the car industry better for all of us.

AutoTrader.com Partners With Experian Automotive To Enable Dealers To Provide AutoCheck Vehicle History Reports On Their AutoTrader.com Listings

noreply@blogger.com (Unknown) — Wed, 29 May 2013 17:58:00 +0000

ATLANTA, May 23, 2013 /PRNewswire/ -- Today, AutoTrader.com® announced that it has entered into an agreement with Experian Automotive which will enable dealers to utilize AutoCheck® vehicle history reports when merchandising their inventory on AutoTrader.com. Beginning in September, dealers who subscribe to Experian Automotive's AutoCheck product will have the option of utilizing those vehicle history reports on the AutoTrader.com site. This non-exclusive partnership is a step designed to facilitate choice for AutoTrader.com's dealer customers and allow other vehicle history report providers to work with AutoTrader.com in a similar manner.

"We are listening to our customers and strive to evaluate our products and services based on their feedback," said Alan Smith , chief operating officer at AutoTrader.com. "Our dealer customers have clearly expressed a desire to have more freedom in deciding which vehicle history reports they would like to use to merchandise their inventory on our site, and our goal with this partnership is to make that choice a reality."

As the largest automotive marketplace, AutoTrader.com has the most listings and the highest number of unique visitors each month. Additionally, the company also has a large and diverse customer base, with nearly 20,000 dealerships. Through listening to customer feedback, AutoTrader.com recognized that there was a growing need among its dealer customers to select which vehicle history report service they wish to utilize on the AutoTrader.com site. By entering into a non-exclusive relationship with one of those providers, AutoTrader.com is moving toward empowering dealer customers with more choice in this important aspect of merchandising their listings, thereby continuing to deliver on its mission of making car buying and selling easier.

"We believe this is good for both consumers and dealers, to have a choice of which vehicle history report provider to use with their listings on our site, and we have worked with Experian over the last several months to make this partnership a reality," Smith continued. "With this new offering, we are pleased to be setting the standard for dealer and consumer choice in vehicle history report providers."

About AutoTrader.com

Created in 1997, Atlanta-based AutoTrader.com is the Internet's ultimate automotive marketplace. As a leading resource for car shoppers and sellers, AutoTrader.com aggregates millions of new, used and certified pre-owned cars from thousands of dealers and private sellers and provides expert articles and reviews. AutoTrader.com, which also operates the AutoTraderClassics.com auto marketing brand, is wholly owned by AutoTrader Group. Additionally, AutoTrader Group owns Kelley Blue Book(KBB.com®) as well as four other companies that provide a full suite of software tools that help dealers and manufacturers manage their inventory and advertising online: vAuto®, HomeNet Automotive®, VinSolutions® and Automotive Information Systems (AIS). AutoTrader Group is a majority-owned subsidiary of Cox Enterprises. Providence Equity Partners is a 25 percent owner of the company and Kleiner Perkins Caufield & Byers is also an investor. For more information, please visithttp://press.autotrader.com.

Former NIADA President Dies

noreply@blogger.com (Unknown) — Sat, 04 May 2013 04:26:00 +0000

Joe Eikenberg Sr., a former president of the National Independent Automobile Dealers Association and a past president of U-Save Auto Rental of America, died last month. Eikenberg, 86, was a national leader in the independent used-vehicle industry in the 1980s and 1990s. He was named the first recipient of NIADA’s National Quality Dealer of the Year in 1976 and served as NIADA’s president in 1979-80.

During his tenure with NIADA, he was very involved in national lobbying efforts and testified to Congressional sub-committees on several occasions on the rights of independent used vehicle dealers. "Joe was a very good friend and great leader of NIADA. He was also our first quality dealer of the year. We will all miss him," said Mike Linn, NIADA’s CEO. Eikenberg was a leader of a small investment group that purchased U-Save Auto Rental served for several years as the company’s president. During his time as president, U-Save Auto Rental was named in two consecutive years to Inc. magazine’s Inc. 500 list of the fastest growing American privately held companies.

Auto Remarketing’s publisher emeritus Ron Smith called Eikenberg an icon of the independent used-car industry. “Joe, almost single-handedly, changed the used car dealer’s image from someone you could hardly trust to a respected small businessman. The respect dealers have today as sharp, honest, hardworking men and women can be traced back to Joe Eikenberg and the way he handled business and relationships,” Smith said.
The Eikenberg name has long been respected among independent dealers in the Maryland market and is still be carried on by his son, Joe Eikenberg Jr. Joe Eikenberg is survived by his wife Doris, children and grandchildren.

NIADA Scholarship Application Deadline Extended

noreply@blogger.com (Unknown) — Wed, 06 Mar 2013 05:24:00 +0000

The application deadline has been extended to April 1st for this year's NIADA Regional Scholarships to be awarded at the NIADA Annual Convention & Expo Leadership Awards Banquet, June 26, 2013, in Las Vegas at Caesars Palace.

Who's Eligible? -- Seniors who will be graduating in Spring 2013
How Much Are They? -- $3500 to one top student in each of the four NIADA Regions
How To Apply? -- Go to www.niadafoundation.org for the application form.

Not only will the top students receive a scholarship to their chosen college or university, they will be guests, along with their parents, of NIADA at the annual event.
“Our scholarship program and the recognition of these outstanding young people would not have been possible without the support of our friends at AutoTrader.com. They have led the way with their annual generous support, demonstrating their vision and values to do more than just connect buyers and sellers, but to connect to their communities,” Mike Linn, NIADA Foundation President.
Students who currently attend or plan to attend Northwood University should contact Northwood’s Financial Aid Office regarding the National $10,000 NIADA/AutoTrader Scholarship.
For additional information, contact Georgia Brown, Director of Education, 800-682-3837.

Professional Presence on the Phone

noreply@blogger.com (Unknown) — Mon, 04 Feb 2013 16:53:00 +0000

Within the first 5 seconds on the telephone, you and your employees establish your company’s image with clients and prospects. With each minute that passes in conversation, either strengthen a caller’s confidence… or weaken your professional integrity.

In short, you and your employees’ telephone skills can make or break your business.

1. When you’re on the phone with a client, you’re playing the roles of a good-will ambassador, problem solver, public relations representative, and more. Whether you are having a good day or a bad day, your telephone call is a performance that should leave your client feeling positive about you.

2. Put energy in your voice. A good trick to remember is that when you are sitting during a phone call, your diaphragm is compressed. When you stand up and move around, you breathe more freely. You have more energy, which will come across in your voice.

3. Smile when you speak. The person you speak to won't see the smile, but the warmth that comes from a smile will come across the phone line!

4. Monitor your voice quality. Do people often ask you to repeat what you just said? You may be mumbling or not enunciating clearly. A good telephone voice is clear and loud enough for people to hear, without sounding loud or shrill.

5. Prepare for your calls. Before an important call, plan what you will say, in writing if possible. This will lower your chances of getting sidetracked, or forgetting important items.

6. Stick to your point and keep it brief. Business people don’t have time for chatty conversations during the day. Monitor the voice of the person you are calling. If they sound hurried, get to the point, or ask when would be a good time to call back.

7. Have all the materials you need at hand. This includes a pen and paper, your calendar for setting appointments, and other information you have from previous contacts.

8. Don’t do other tasks when you’re on the phone. The person you’re talking to may hear you clicking on your keyboard if you’re multi-tasking during your conversation. Eating, drinking or chewing gum during a business conversation is unprofessional.

9. Take notes. During the call, write down the relevant points you discussed. This shows your efficiency and attention to detail, and helps avoid repeat phone calls for the same information.

10. Make clients feel valued. A prompt reply and the words "Thank you for calling" go a long way in making a client feel valued. When you hear the voice of someone you know, put a little extra energy and warmth in your voice.

11. Give each call your full attention. When you are on the phone and you receive another call, let voicemail answer it. Only if you are speaking to someone you know well, you can ask if they mind waiting momentarily while you check who is calling.

12. Closing the conversation is as important a part of your impression as beginning the conversation. End the conversation by summing up the call to make sure each of you understands the next step. Then say goodbye, and wait until the other person hangs up before you put down the receiver.

Remember that the big money isn’t as much in winning customers as in keeping customers. Each individual customer’s perception of your company will determine how well you do this and that perception will depend on the level of customer service you provide.

Contributed by Ellen Reddick, Managing Partner at Impact Factory (www.impactfactoryutah.com)

Consultant, writer, and former senior executive with more than 25 years of experience in the technology industry. Managing partner of Impact Factory Utah a firm that provides strategic consulting, executive coaching, and speaking services to CEOs and management teams of small-to-mid-sized companies. Broad base of experience in people management, sales, process improvement, customer service training, project management, mediation and facilitation.

Criminal Charges Filed against Past Insurance Agent

noreply@blogger.com (Unknown) — Tue, 15 Jan 2013 21:11:00 +0000

The Utah Insurance Department’s Fraud Division has filed criminal charges against former insurance agent Stewart Ian Rodgers. Rodgers has been operating under the name “SIR Insurance Group Online.”

The Insurance Fraud Division received a complaint from a Salt Lake City car dealership with concerns that their insurance policy with Rodgers appeared to be non-existant, even though they had been paying premiums to an insurance company. Upon checking with the insurance company the complainant believed they were insured with they were told that no policy existed. Since then two other car dealership owners have discovered that they too have been paying for coverage that does not exist. It is alleged that Rodgers has been pocketing premiums for personal use.

Multiple felony charges have been filed against Stewart Rodgers in the Farmington, Utah Second District Court.

The Insurance Fraud Division is asking that anyone who has purchased a policy through Stewart Ian Rodgers or SIR Insurance Group Online, to contact their insurance carrier to verify that a policy does exist. The time period of concern is between January 2011 to September of 2012.

If anyone has information that could help with this investigation, please contact Deputy Director Shane Tiernan at 801-531-5398 or by email to stiernan@utah.gov.

UCDU - New Changes are Happening Now!

noreply@blogger.com (Unknown) — Wed, 12 Dec 2012 19:18:00 +0000

FOR IMMEDIATE RELEASE: The Independent Auto Dealers Association of Utah is becoming the Used Car Dealers of Utah. This name change will help promote awareness and recognition on Capitol Hill as well in public facing communications. The UCDU is excited with the new mission and direction that have come as a part of the name change and looks forward to continuing to educate, advocate, and promote, for the used car dealers in Utah.

With the name change the UCDU will also be launching a new website located at www.usedcardealersofutah.com this new site will include innovative new tools for the industry, as well as information for consumers regarding the safe purchase of a used vehicle in Utah.

It will also include a set of new members services. These new services will be designed to assist the member dealers in creating an excellent buying experience for consumers as well as promote sound business practices for successful car dealerships in Utah.

Contact:

Joshua Wayman

joshua.wayman@associationsutah.com

801-566-5620