Matthew Egan, vice president and senior financial advisor at Merrill Lynch, will help you understand and survive in the current market during the SEMA webinar, "Protecting Your Finances From the Economy." 

Through the investment-focused presentation, Egan will cover topics such as preserving your principal, learning what kind of dividend income you can expect, finding attainable and sustainable returns and what should you do with cash. Your finances of 2007 won’t be made whole again by doing nothing, and you can’t simply hope for a recovery. This critically important webinar will teach you what you need to do to protect yourself and your business.

When: Thursday, March 19, 10:00 a.m.–11:00 a.m. (PDT)
What: “Protecting Your Finances from the Economy”
Presenter: Matthew Egan, Vice President and Senior Financial Advisor, Merrill Lynch

This session is part of the 2009 SEMA Recession Survival Series, a collection of online workshops to help member businesses survive the current economic crisis. The new program focuses on topics specific to today’s challenges, including managing cash flow, retaining the best employees, managing inventory and leading your company through 2009 into the new business environment.

To register for this or other upcoming sessions in the 2009 SEMA Recession Survival Series, click here.

SEMA's Webinar Program: The SEMA webinar program brings the world-class business seminars featured during the SEMA Show right to your desktop. Different business-building sessions are constantly added to the program, offering members the latest insight and practices from today’s leading speakers.

All SEMA webinars are conducted live and are open to all employees of SEMA-member companies free of charge. To participate, all you need is a computer with Internet access and a telephone. All previous SEMA webinars are available for download by clicking here. To view upcoming presentations that you can attend via telephone and Internet, click here.

Part one of the SEMA Recession Survival Series Webinar program recently kicked off with the webinar entitled “Taking Positive Control of Your Company When the Economic News Is Negative,” presented by Richard Jones, chairman and CEO of Management 2000 Inc., Dean Calvo of Management 2000 Inc. and Justus Breese of Automotive News.

The presentation was the first of seven installments that will be held over the next two months in order to address the pressing issues being faced by businesses in today’s tough economic times.

As the initial speaker, Breese reassured listeners that there will be a turnaround in the economy, specifically within the auto industry. He referenced a poll by Consumer Reports that reveals 48% of Americans delayed a vehicle purchase in 2008.

“There is a great deal of pent-up demand and when things get better, and when confidence improves, there will be buyers again—and things will improve,” he said.

Breese then revealed that in order to survive until things do recover, a company must design a turnaround plan. Breese referenced Mike Jackson, CEO of AutoNation, for managing the country’s largest auto retailer through this economic crisis. He explained that Jackson committed to cut $200 million from the company’s cost structure.

Jackson reported in 2008 that the goal had been met, and by the year end 2008, the company had lost only $1.2 billion. Jackson achieved his plan by cutting the recommended vehicle supply of 60 days to a 50-day supply. This dramatically cut the company’s new-vehicle inventory by 60% in the first quarter, and Jackson’s goal was met when costs were adjusted to meet the new demand levels.

“We clearly have to take a long, hard look at our businesses,” Breese said. “We have to gauge new levels of demand, and we have to adjust our costs and our structures to meet these new levels.”

Jones then took over the presentation to advise companies to change their management approach. As opposed to going to the office and dealing with typical daily tasks and those that appear throughout the day, Jones said, “it is absolutely critical that you now focus on mitigating loss by developing a plan of action and implementation. Your life must be spent around this now.”

He continued by stating that management can be a company’s big problem since managers are too comfortable meeting their perception of the company’s needs, in contrast to the actual needs.

“You have to broaden your own perspectives now as management of the company,” Breese said. “A management team should develop the needs of the company. You need to tie them to the goals and objectives that are measurable and then base it all on a strategic plan which focuses on implementation.”

Jones also advises companies to anticipate problems and to make decisions about issues before they become conflicts. Not only is doing so more effective, but the company/employee culture will remain solid, he says.

To download an audio or PDF version of the complete webinar, click here. To download all past SEMA webinars, click here.

Don’t miss the upcoming webinars:

“Increasing Profitability With Fewer Customers, Sponsored by the SEMA Manufacturers' Rep Council (MRC),” Thursday, March 12, 2009, 10:00 a.m.–11:00 a.m. (PDT)

“Job Costing Systems That Will Boost Your Cash Flow,” Thursday, April 2, 2009, 10:00 a.m.–11:00 a.m. (PDT)

To view the entire calendar of the SEMA Recession Survival Series Webinar program, click here.

Not only did Brenda Priddy's spy shooters get these shots of the new BMW 6 Series, but they got the convertible before the coupé, no less. The new 6 in these photos wears a canvas soft-top rather than the retractable hardtop typically found on cars in this class. Priddy notes this might be a compromise in the fight for trunk/cargo space.

"The camouflage seen here includes a fake rear window, which we’re guessing is to hide the fins of the canvas top as first seen on the current model, and will apparently carry over to the next," Priddy says. "Besides these fins, it’s easy to see that the overall shape of the new 6 Series won’t differ much from the outgoing model, though refinements will be done to every panel.

The new coupé and cabrio will be available as 630, 650 and 635d models, with outputs of 272-, 367- and 286hp.

Photos copyright Brenda Priddy & Company. Reuse or reproduction without copyright holder's consent is prohibited.

Not only did Brenda Priddy's spy shooters get these shots of the new BMW 6 Series, but they got the convertible before the coupé, no less. The new 6 in these photos wears a canvas soft-top rather than the retractable hardtop typically found on cars in this class. Priddy notes this might be a compromise in the fight for trunk/cargo space.

"The camouflage seen here includes a fake rear window, which we’re guessing is to hide the fins of the canvas top as first seen on the current model, and will apparently carry over to the next," Priddy says. "Besides these fins, it’s easy to see that the overall shape of the new 6 Series won’t differ much from the outgoing model, though refinements will be done to every panel.

The new coupé and cabrio will be available as 630, 650 and 635d models, with outputs of 272-, 367- and 286hp.

Photos copyright Brenda Priddy & Company. Reuse or reproduction without copyright holder's consent is prohibited.

Legislation has been reintroduced in the California Assembly to require annual smog-check inspections for vehicles 15 years old and older. The bill would also require that funds generated through the additional inspection fees be deposited into an account which can be used to scrap older cars.

In 2004, a new law was enacted in California to require the lifetime testing of all '76 and newer model-year vehicles. Pre-'76 motor vehicles would remain exempt under this bill. SEMA succeeded in defeating this measure in the previous two legislative sessions. 

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

SEMA-model legislation to create a vehicle titling and registration classification for street rods and custom vehicles has been approved by the Utah House of Representatives. The bill defines a street rod as an altered vehicle manufactured before 1949 and a custom as an altered vehicle at least 25 years old and manufactured after 1948.

Under the bill, kit cars and replica vehicles will be assigned a certificate of title bearing the same model-year designation as the production vehicle they most closely resemble. The bill now moves to the Utah Senate for consideration, which is slated to adjourn this week.  If not passed by the Senate, the bill will die for the year. 

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

On the heels of the defeat of a U.S. Congressional proposal to create a national "Cash for Clunkers" program, SEMA helped turn back an effort in the Washington State Legislature that would have implemented a vehicle scrappage program for passenger vehicles more than 15 years old. 

Under the bill, qualifying vehicles would have had to be registered for a 24-month period and in satisfactory operating condition. Replacement vehicles purchased under the plan would have been required to have an EPA highway gasoline mileage rating of at least 30 mpg.

Participants in the program were to be granted a sales-tax exemption for the first $2,000 of tax paid on the purchase price. All trade-in vehicles would have been destroyed, regardless of their historical value or collector interest. 

For details, contact Steve McDonald at stevem@sema.org.

In February, SEMA members came together to prevent a federal Cash for Clunkers Program from passing Congress and becoming the law. Clunker advocates are preparing for a second try at a federal Cash for Clunkers law this summer. Will we be ready once again?

This summer, Congress will undertake major health care reform. Will Congress give our economy relief from rising costs, or will reform mandate coverage that SEMA companies and our workforce cannot afford?

Since 2003, SEMA members have worked together for the good of our industry and the auto hobby by supporting the SEMA Political Action Committee (SEMA PAC). You can join in this effort by visiting www.semapac.org and becoming “SEMA PAC Approved!”

SEMA, as with all trade associations, must receive written permission from the executives of each of our member companies before we can provide information regarding our efforts on Capitol Hill and the PAC. 

While doing so does not obligate you to contribute, taking a few minutes to fill out this form will help SEMA PAC to conform to the law. It will also allow SEMA PAC to contact you with updates on what’s happening in Washington, D.C., and which members of Congress are friends of our industry.

For additional information visit www.semapac.org or contact PAC Administrator Jason Tolleson at jasont@sema.org.

If this is your industry, SEMA PAC is an investment in your future.

NEW OWNER: Ross Brawn has been approved as the new principal owner of the former Honda Formula One team. The name has been rechristened Brawn GP Formula One Team and will field cars for Jenson Button and Rubens Barrichello.

THE UNVEILING: Audi unveiled its new R15 TDI that will make its racing debut in the upcoming Mobil 1 12 Hours of Sebring March 21 at Sebring (Florida) International Raceway.

ATLANTIC ACE: Defending Atlantic Championship titlist Markus Niemela has joined Newman Wachs Racing for the 2009 season to contest the Atlantic Championship, which is scheduled to pay $1 million to the champion.

SPONSOR WOES: That may be the story of the season for many race teams. Todd Bodine and Germain Racing have finished in the top three in all three NASCAR Camping World Truck Series races this season, but the team is without sponsorship and will not attend the next race March 28 at Martinsville (Virginia) Speedway without sponsorship.

BONUS MONEY: New York modified racer Randy Hall was voted the winner of the Alltel DIRTcar Nationals All-Star contest, earning him a $10,000 bonus. Hall became eligible with a UMP modified victory during the DIRTcar Nationals at Volusia Speedway Park and his fans did the rest, voting him the winner over some of the country’s best known sprint-car and late-model drivers.

TOP DOG: Donny Schatz remained in the top of the weekly National Speed Sport News Power Rankings.  Schatz returns to action this weekend at the Mini Gold Cup at Silver Dollar Speedway in Chico, California. The rankings appear weekly in America’s Motorsports Authority.

SUBSCRIBE: National Speed Sport News has been published weekly since 1934. To subscribe to National Speed Sport News, click here for a special industry rate.

Have you moved on? Up? Know someone who has? Let us know: editors@sema.org.

Automotive advertising veteran Max Butler was named the marketing vice president of Global Vehicles USA. He joins Global Vehicles following 17 years of Saturn marketing for three advertising agencies in Atlanta. Global Vehicles USA is the distributor for Indian automaker Mahindra & Mahindra, which is in the process of launching its first vehicles in the United States.

National Sprint Car Hall of Fame member Emmett Hahn will be the Grand Marshall of the 14th Annual Budweiser Oval Nationals, November 6–8, at the Perris Auto Speedway. Hahn is a former champion driver who currently runs the American Sprint Car Series (ASCS) sanctioning body and promotes the well-known Chili Bowl for Midgets every January.

PPG Industries appointed Domenic Brusco to senior manager, industry relations for North America Automotive Refinish. Brusco will be the company’s lead liaison for industry stakeholders, and he will work with industry leaders to identify and seek solutions to business challenges that face the automotive aftermarket industry. Brusco joined PPG in 1988 as a refinish territory manager in Boston, Massachusetts, and has held several sales and management positions within the company.

Eaton Corp. named Eric Zahrai manager for Aftertreatment Marketing and Strategic Partners for its Truck Group. In addition to providing marketing leadership for one of Eaton’s newest businesses, Zahrai will also take the lead for managing the relationship with Eaton’s strategic commercial vehicle supplier partners, Dana Holding Corp. and Bendix Heavy Vehicle Systems Group. His most recent position was sales and marketing manager – Europe.

HUGHES Telematics has completed the successful initial testing in Europe of its in-Drive aftermarket telematics solution. The services available through in-Drive include emergency calling (e-Call), breakdown assistance (b-Call), diagnostics monitoring and emissions testing, stolen-vehicle tracking and geofencing.

The family-owned N.A. Williams manufacturers’ rep firm was named the new factory representative for the Peterson Manufacturing Co. N.A. Williams will serve the Arkansas, Louisiana, Oklahoma and Texas markets.

Continuing its long-running support of Jay Blake and the Follow A Dream Race Team, Permatex will provide a corporate sponsorship for the team as it competes for the 2009 NHRA Top Alcohol Funny Car Series Championship. Permatex has partnered with Jay Blake and his Follow A Dream Race Team since 2004. Blake, owner and crew chief of the Follow A Dream Race Team, is totally blind after losing his sight in a tire explosion more than 10 years ago.

General Parts Inc. (GPI), parent company of CARQUEST, announced that it will only accept valid Automotive Aftermarket Industry Association (AAIA) standard ACES 2.0 and PIES 6.1.1 or later data from its suppliers for entry into its Product Data Management System (PDMS). GPI chose Illumaware LLC for an exclusive contract to use its Evokat software as an ACES and PIES validation tool for the nearly 200 companies in the GPI supply chain. Each supplier’s data must pass validation before being entered into the PDMS.

Edge Products launched a new racing division, Edge Racing. The new brand of products are designed for diesel motorsports enthusiasts who participate in sled pulls, drag racing, dyno competitions and other off-road events. The Race Evolution for the 2006–2009 Chevy/GM Duramax and the 2003–2009 Ford Powerstroke are the first of many products to be launched under the Edge Racing brand.

WC Vision will continue its partnership with SPEED to broadcast all 10 rounds of the 2009 SCCA Pro Racing SPEED World Challenge Championships. This year’s broadcasts, which will be produced the Internal Combustion Group, will combine each SPEED GT and SPEED Touring Car round into a single, one-hour program. Broadcasts will continue to air tape delayed on SPEED.

Automotive trim suppliers Guardian Automotive and Siegel-Robert Automotive have combined to form SRG Global Inc. The privately held company has manufacturing operations in North America, Europe and Asia and is headquartered in Warren, Michigan. Guardian Automotive’s European trim operation—formerly known as Lab Radio—is also part of SRG Global.  

Goodguys Rod & Custom Association founder and Chairman Gary Meadors is working on a '48 Chrysler Town and Country convertible. He's not going it alone. With the help of some old friends, and working off a sketch by Thom Taylor, Meadors has appointed Bob Bauder of Crestline, California, as captain of the build, which features completely new wood installation courtesy of Cincinnati Woodworks and intricate wood-finish work from the gang at Wood N Carr. The color will be a deep maroon with warm, rich wood tones.
     Under the long smooth hood will sit a 2006 Dodge Viper “Gen 3” SRT 10 with an automatic transmission. An Art Morrison chassis with coilovers and four-wheel disc brakes will get the big Woodie riding in ultra-cool, ultra-low fashion. The bright work will be handled by Sherm’s Plating. Seventeen-inch Chrysler wires and whitewalls finish off the look. In sticking to the Meadors signature, the goal is to have an extremely low, stock-appearing classic Chrysler for comfortable long-distance cruisin’ and profilin’. 

Have you moved on? Up? Know someone who has? Let us know: editors@sema.org.