Under the plastic camouflage shown in these Brenda Priddy & Co. spy photos is the next-generation BMW 5 Series, codenamed F10 and set to replace the E60 platform. Expect to see softer lines, more conventional headlights and a cleaner front-end design, say the writers at Edmunds.com.

“New European pedestrian safety standards are expected to drastically alter the design of many European cars for the worse, but BMW will not only maintain its classic twin-kidney grille design, it will reduce the length of the front overhang,” Edmunds says (look closely through the front mesh decoy grille and you can just make out the twin-kidney split).

Underhood, the F10 will likely use variations of existing BMW engines, including a 2.5L straight six, a 4.8L V8, a diesel and possibly some combination of a small displacement turbo V8.

“This 5 Series will use more fluid design along with still more advanced hardware to give it an edge over its increasingly adept competitors,” Edmunds adds.

Source: "2011 BMW 5 Series Review," Edmunds.com

Filler for eNews

Filler for eNews

In an attempt to reduce motor-vehicle emissions, legislation has been introduced in the Washington State Senate to establish two separate progressive fees for state motor vehicles based on (1) engine size and (2) calculations of carbon emissions. These fees would be collected by the state at the time of initial vehicle registration and at subsequent renewals of registration.

If this effort is successful, the expense of driving a vehicle of choice in Washington could be substantial. The measure would tax vehicle owners with an engine size of 8.0L or more $600 at the time of registration or renewal. An additional tax of $600 would be assessed for vehicles emitting more than 362 g per mile of carbon dioxide. Smaller engine vehicles would be taxed at a lesser but still significant rate.

For more information click here. For details, contact Steve McDonald at stevem@sema.org.

Legislation has been introduced in the New York State Assembly to establish a progressive purchase surcharge for some new motor vehicles based on state calculations of carbon emissions. Depending on the vehicle purchased, this surcharge could require owners to pay up to $2,500 more for the vehicle.

Funds collected under the program would be used in part to fund discounts for hybrids and electric cars. If this effort is successful, the effects on a consumers’ ability to purchase the vehicle of choice, not to mention vehicle safety, could be dramatic. For more information click here. For details, contact Steve McDonald at stevem@sema.org.

Legislation has been introduced in the Hawaii House of Representatives to establish a progressive fee for state motor vehicles based on engine size. These fees would be collected by the state at the time of initial vehicle registration and at subsequent renewals of registration.

These fees would be in addition to fees and taxes normally required for registration or renewal. The measure would tax vehicle owners with an engine size greater than 200 cu. cm., and the fee would increase depending on engine displacement.

For more information click here. For details, contact Steve McDonald at stevem@sema.org.

The economic stimulus measure passed by Congress and to be signed into law by President Bush includes several important business tax breaks. The new law includes both a temporary increase in the first-year direct-expensing allowance and a bonus depreciation deduction of 50% for 2008. The direct expensing allowance increases to $250,000 from the current level of $128,000. The new law also provides an increase in the phase-out cap based on total equipment purchases in a year, rising to $800,000 from the current $510,000. 

Here is an example on how the tax breaks work:

• The direct-expensing allowance is applied first. If you have a $450,000 machinery purchase, the amount written off in the first year would be $250,000. 
• The 50% bonus depreciation is then applied to the remainder basis of $200,000. That means another $100,000 can be written off in for 2008. 
• Then the regular first-year depreciation allowance is taken based on the remaining $100,000 basis. That amount depends on the class life of the asset and a few other technicalities, but for this example we will use a five-year life and a straight line deduction of another 20% , so the taxpayer can expense another $20,000. 
• Final result: The taxpayer is able to expense $370,000 of the $450,000 in tax year 2008.

In addition to the business incentives, most taxpayers will receive checks of up to $600 for individuals or $1,200 for married couples. The amounts will be phased-out at a rate of 5% for each $1,000 in earnings above the cap incomes of $75,000 for individuals and $150,000 for married couples. Under this formula, the rebates will be completely phased out at $87,000 for individuals and $174,000 for joint filers without children. Checks are expected to be mailed between May and July.

For more information, contact Stuart Gosswein: stuartg@sema.org.

The Department of Labor (DOL) has proposed changes to regulations governing the Family Medical Leave Act (FMLA) to address gray areas in the law. One such issue has been the need to have more concise rules on managing unscheduled intermittent leave. Under the current and proposed rule, employers would define the smallest amount of time that can be tracked using the company’s timekeeping system. Workers would, however, be required to abide by an employer’s call-in procedure for unscheduled leave, except for limited emergencies which then require “after the fact” reporting.

The proposal also makes some changes to the definition of serious health condition and the medical certification process. The impact on the small-business community is limited as the threshold for coverage under the FMLA is 50 employees. Covered employers must allow workers up to 12 weeks of unpaid time off and a guaranteed equivalent job upon return due to a serious illness, to take care of a seriously ill child, spouse or parent, or for the birth/adoption of a child.

On a related topic, legislation has been proposed to provide for paid FMLA leave and to lower the threshold to 25 employees. While the bills may be the topic of hearings, prospects for passage are unlikely with the present Democrat/Republican split in Congress.

For additional details, contact Stuart Gosswein at stuartg@sema.org.

Through an expansion of its existing relationship with Chrysler and Mopar, Katzkin Leather Inc. announced that its interiors are now available as an official Chrysler accessory. According to Katzkin, the interiors are ordered through Mopar’s existing parts-order system, backed with Chrysler’s warranty and available for all Chrysler, Dodge and Jeep vehicles—including those equipped with advanced airbag technology. Chrysler has plans to outfit vehicles at the factory and deliver them to the dealer with recognized, consumer-driven options, according to the leather interior manufacturer.

Katzkin announced an additional partnership in January 2008 with Ford Motor Co. to be the automaker’s exclusive supplier of aftermarket leather. In addition to consumers being able to request Katzkin leather by name through Ford parts retailers, Katzkin says that it is working with Ford to outfit its vehicles with Katzkin leather, just as they are at Chrysler.  

For more information, visit www.katzkin.com.

MERGER? The Indy Racing League and Champ Car World Series are continuing to discuss a merger, which when complete would see the two open-wheel series, which have been separate since 1996, united together under the Indy Racing League banner. There remain several hurdles to clear, but the negotiations have been encouraging to this point. Among the many contingencies involved would be the IRL adding several of the Champ Car events to its schedule.

ALL HENDRICK ALL THE TIME: After winning half of the 36 NASCAR Sprint Cup races last season, Hendrick Motorsports is off to a fast start, winning the Bud Shootout at Daytona with Dale Earnhardt Jr. in his first race with the team. Two-time defending series champion Jimmie Johnson won the pole for the Daytona 500 as well.

BACK ON THE ROAD: BMW is planning a full-time return to the American Le Mans Series with M3 coupes competing in the GT2 division. The cars will be fielded by Rahal Letterman Racing.

PROMOTED: Kenny Kane has been promoted to vice president of media and communications for Daytona International Speedway.

PROMOTER OF THE YEAR: Lynn Phillips, who operates the Talladega Short Track was selected as the Racing Promotion Monthly Promoter of the Year by a vote of his peers.

POWER RANKINGS: Donny Schatz continued to lead the National Speed Sport News Power Rankings after a pair of victories at Volusia Speedway Park in Florida, but NASCAR’s Jimmie Johnson and NHRA’s Tony Schumacher are close behind.

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