Unless you’ve been living under a rock, you all know that Southern California has had its share of devastating wildfires over the last several months. If you live in Southern California, you’ve experienced the hot Santa Ana winds and the “red flag warnings” that accompany them — that is, warnings of the potential for such a catastrophe.
We’ve talked a lot about “process and procedure” in these columns, particularly as it relates to compliance. The operative word here is good, because procedures that conform to a lesser standard can really put a dent in your retirement plan.
You may recall the drama that played out in 2003 with regards to renewing certain provisions of the Fair Credit Reporting Act (FCRA). They were set to expire at the end of that year (if you don’t recall, trust me, folks in D.C. were losing sleep over this).
Let’s face it — dealers get sued for a lot of things; sometimes it’s justified, sometimes not. The savvy dealer knows this and takes steps to manage risk accordingly.
In past columns I’ve talked about compliance as a value proposition —something that often is hard to quantify except in comparison to “what might happen.” After numerous years in this business, I have to say the old adage, “an ounce of prevention is worth a pound of cure,” perfectly sums up the value of good compliance practices.
As all of you know, spot deliveries are a common practice in many dealerships around the country. Where they are permitted by law and properly executed, spot deliveries are a valuable sales process.
Memorial Day weekend in Washington, D.C., is always an affair, from the 20,000-plus motorcycle-riding members of Rolling Thunder in town to raise awareness of POW/MIA issues, to the concerts and fireworks on the mall, and thousands of flags flying everywhere.
We’ve had a couple of major developments this month, so this month’s column is devoted to updating you on the happenings around Washington, D.C.
When I sit down to write this column every month, I try to think about what’s new, what’s novel, what do folks not know about, etc. A request from a reader asking for an article that discussed spot deliveries made me realize that sometimes, a “best practices” article on a subject that’s been around a long time may provide more bang for the buck from time to time.
A couple of years ago there was a lot of scrambling going on as financial institutions figured out how to comply with the customer identification program (CIP) requirements imposed by Section 326 of the USA Patriot Act.
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