|Thursday, December 12, 2013
||Helping Dealers Succeed!
Consider a contribution to NAEDA's Equipment Dealers Foundation
NAEDA’s Equipment Dealers Foundation (EDF) was created to provide grants to meet the industry’s need for training resources, career advancements and scholarships. Through the years, the EDF has expanded its efforts to help dealership employees affected by natural disasters. Moving forward, your support is needed for research, grants and scholarships to continue to enhance our industry.
Legislative & Regulatory News
IRS issues 2014 standard mileage rates
The Internal Revenue Service set the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Lawmakers ready budget to jam through House of Representatives this week
Congressional leaders are preparing to unveil a last-minute budget deal that could be quickly jammed through the House.
It looks like a deal could be unveiled as late as Wednesday, just two days before the House is scheduled to recess for the rest of the year.
NAEDA seeks comments on Senate tax reform plan targets
Special Note: NAEDA wants to thank AED and their legal counsel, Christian Kline, for permission to publish and edit this article they published on November 25, 2013. While this article is based on their concerns, these same concerns have been expressed by NAEDA and will continue to be as tax reform is debated.
If you doubted warnings that everything is on the table in the current tax reform debate, doubt no more. Last week, the Senate Finance Committee unveiled a sweeping proposal to change capital expenditure and accounting rules in an effort to both simplify the tax code and pick up revenue to finance a corporate tax rate cut. Top targets are like-kind exchange (LKE), last-in, first-out (LIFO) accounting, and a number of current tax code provisions important to AED members and our customer industries. The bottom line: There’s a lot for equipment distributors to be concerned about and not much to like in the Finance Committee’s discussion draft.
REALITY CHECK: Time to get the facts right on TPA
There are a lot of rumors circulating about Trade Promotion Authority (TPA), and it’s time to separate fact from fiction. The Trade Benefits America Coalition has produced a new report that explains what TPA is, how it works, and why it is an important tool to support U.S. growth and jobs. Here are the highlights:
Budget deal expected this week
House and Senate negotiators were putting the finishing touches Sunday on what would be the first successful budget accord since 2011, when the battle over a soaring national debt first paralyzed Washington. The deal expected to be sealed this week on Capitol Hill would not significantly reduce the debt, now $17.3 trillion and rising.
It would not close corporate tax loopholes or reform expensive health-care and retirement programs. It would not even fully replace sharp spending cuts known as the sequester, the negotiators’ primary target.
WTO closes $1T trade deal in Bali
The World Trade Organization on Saturday reached a deal on customs issues that officials say could boost global economic output by as much as $1 trillion, but only after a negotiating session that went into overtime.
After resolving a deadlock over India’s food security plans that threatened to derail the pact, negotiators then confronted a block by Cuba and some of its allies in Latin America who said they objected to the pact because it does not ease the long-time U.S. economic embargo on the Communist-run island. Cuba and the other countries dropped their resistance after meeting with U.S. Trade Representative Michael Froman, according to diplomatic sources.
EPA expects to have final rule in first quarter of 2014
The comment period for the proposed 2014 Renewable Volume Obligations for the Renewable Fuel Standard will close Jan. 28, 2014, the Environmental Protection Agency said Friday, Nov. 29.
NAEDA Update Official Sponsor
Industry & Manufacturing News
Ariens buys 3 direct marketing brands from W.W. Grainger
Calling it part of a strategy to offset some of the seasonality inherent in its business, Ariens Co. said Monday it is acquiring three direct marketing brands from W.W. Grainger Inc.
25x'25's Allen Rider testifies before EPA on RFS proposal
25x'25 Alliance tells EPA that proposal to reduce RFS blends is step back from a more diversified energy future
WASHINGTON, D.C. Dec. 5, 2013 - In testimony before an EPA panel that is hearing public comment on agency plans to reduce biofuel blending requirements under the 2014 Renewable Fuel Standard (RFS), 25x'25 Alliance Steering Committee member Allen Rider said the proposal "represents a significant step back from the nation's previous path towards a more diversified energy future."
The Toro Company reports record results for fiscal 2013
BLOOMINGTON, Minn.--(BUSINESS WIRE)--Dec. 5, 2013-- The Toro Company (NYSE: TTC) today reported net earnings of $154.8 million, or $2.62 per share, on a net sales increase of 4.2 percent to $2,041.4 million for its fiscal year ended October 31, 2013. In fiscal 2012, the company delivered net earnings of $129.5 million, or $2.14 per share, on net sales of $1,958.7 million.
AED appoints Brian McGuire as new President and CEO
Associated Equipment Distributors is pleased to announce the appointment of its new president and CEO, Brian P. McGuire. He will assume his duties with AED on January 6, 2014, and will be based at AED's headquarters in Oak Brook, Ill. He was most recently the president of the Tooling and Manufacturing Association, headquartered in Park Ridge, Ill.
Bonus Depreciation and Section 179 Expensing Rules for 2013 updated
For the last two years about this time, Jack Selzer, NAEDA’s Tax Attorney has provided the basic tax depreciation/expense rules that can help sales people in making new and used equipment sales before year end. Because of some changes, it is timely to revisit these rules.
There are two provisions we need to look at --
Section 179 expense deduction for new and used equipment. The Section 179 deduction for 2013 is $500,000. There is a “phase out” $ for $ after the purchase of $2,000,000 of new and/or used equipment. This if a customer has $2,500,000 of purchases in 2013 there will be no Section 179 deduction. This phase out shows that this deduction is designed for small and mid-sized businesses.
Bonus depreciation for new equipment. Like last year, the extra additional bonus depreciation is 50% of the purchase price of new equipment. Example – if a customer buys new equipment in 2013 for $600,000 the customer can take an extra $300,000 bonus depreciation deduction in 2013.
Download equipment tags and other materials for "Look Before You Pump" campaign
Dealer Candidate Course
The Canada West Equipment Dealers Association, in partnership with Jerkins Creative Consulting (JCC) is pleased to announce the dates for the 2014 Dealer Candidate Course. To be held June 24-25, 2014 in Regina, SK; the course is now open for registration!
Canadian ag minister threatens trade retaliations against COOL
Canadian agriculture minister Gerry Ritz said his country is serious about seeking retaliatory tariffs if the United States fails to change its country-of-origin meat labeling law (COOL). “It's always the last arrow in the quiver we want to fire,'' Ritz said Thursday in a teleconference with reporters from the Indonesian island of Bali, where he was attending a World Trade Organization ministerial conference.
Cattle industry seen likely to shrink if COOL stays
There’s a good possibility the Canadian cattle industry will start to shrink if U.S. mandatory country-of-origin labeling (COOL) rules on meat stay in place as they are. COOL came into effect about five years ago, making it mandatory for retailers to label meat that comes from countries outside of the U.S.
Farmers blame railways for backlog of unshipped grain
Anger at the country’s rail system is growing along with the backlog of grain waiting to be shipped to port. Record harvests this fall are straining the transportation system with terminals in Vancouver and Prince Rupert running at capacity and prairie grain elevators so full that farmers are storing their grain in machine sheds.
Deere sees Canada/U.S. ag equipment demand slipping
Lower commodity prices are expected to have a "dampening" effect on Canadian farmers' demand for new iron, green or otherwise, in 2014. Deere and Co., releasing its fourth-quarter and year-end results on Wednesday, predicted industry-wide sales for farm machinery in Canada will slip five to 10 percent in 2014 from 2013 levels, with the decline "mainly reflecting lower sales of large equipment such as high-horsepower tractors and combines."
Canada/Korea trade talks back on track: CCA
Free trade talks between Canada and South Korea, stuck on the back burner for months, have resumed with what appears to be renewed interest in a deal, the Canadian Cattlemen's Association reports.
Grain, cattle prices boost 2012 net farm income: StatsCan
The realized net income of Canadian farmers totalled $7.3 billion in 2012, up 31.7per cent from 2011, as farm cash receipts rose more than operating costs, Statistics Canada reported Tuesday. The increase follows gains of 56.3 per cent in 2011 and 16.9 per cent in 2010, the government agency said in a release.
January-to-September farm cash receipts up: StatsCan
Manitoba's recovery from a 2011 drought, improved potato marketings in New Brunswick and changes in payment timing for Prairie wheat have helped boost farm cash receipts in the first three quarters of this year, Statistics Canada reports.
Bank of Canada keeps key interest rate unchanged at one per cent
The Bank of Canada says it sees some encouraging signs in the Canadian and global economies, but the improvement is not sufficient and inflation remains too low to justify moving off its view that the recovery remains fragile and in need of monetary stimulus.
NAEDA, Association & Program Partner News
KPA Webinar: 5 Steps to creating an effective training program
Thursday December 12, 2013: How to develop a training program that fits your facility’s needs.
The future is mobile payment
Elavon’s VirtualMerchant Mobile is a secure, complete payment solution that transforms mobile devices into terminals, allowing merchants to accept payments quickly and securely, without a major investment in new equipment or training.
Share your input with NAEDA's OPE Dealer Council
Do you have topics or issues you would like the NAEDA OPE Dealer Council to address at its February 3, 2014 meeting? If so, contact Joe Dykes or any member of the council now. Click here for contact information.
Topics to submit might include issues affecting your store and actions of a distributor, manufacturer and or other supplier. They might involve warranty problems, Internet problems or other management issues you face.
Also, let us know if you have heard about issues other dealers have expressed to you. Be sure and include the state or province where the issues are occurring in your message so the council can know if it is a local, state, provincial or national issue. The council wants to know about issues affecting your dealership so they can be addressed by them directly and help get them resolved.
Special NAEDA Agriculture/Heavy Equipment Webinar recording link
The SPECIAL Agriculture/Heavy Equipment webinar by KPA was 12/5/2013. Please see below for links to watch the recorded webinar and download the presentation slides.
NAEDA office holiday schedule
Currie Management Consultants Leadership Development 2014
|You are invited to the following event: LEADERSHIP DEVELOPMENT 2014
Tuesday, February 25, 2014 at 8:30 AM
- to -
Wednesday, February 26, 2014 at 3:00 PM (EST)
Registration is now open for Currie Management Consultants, Inc.’s Leadership Development Program for 2014. If you are not familiar with this program, please visit the registration page for additional information on this popular program. Or feel free to give us a call at 508-752-9229, or email an inquiry to Robin@CurrieManagement.com. This one-year program has been filling very quickly so please register early!
Since there has been rapidly increasing demand for this program, we have already scheduled a second and third launch for 2014. The maximum number of participants is 15 per program, but don’t worry if you didn’t register in time! Once the February 25 kick-off is full, you will automatically be added to the waitlist for the March kick-off. After that, all additional registrations will transfer to April.
We are excited to start another round of this valuable program, and happy to report well over 100 graduates!
Use Partnership & receive an entry into the $25,000 FedEx Advantage Sweepstakes
Enroll now in the NAEDA Shipping Program at PartnerShip.com/24naeda and you’ll receive one entry into the FedEx Advantage Sweepstakes. Once you’re enrolled, every eligible FedEx® shipment you make — up to 50 — from Nov. 4, 2013, through Dec. 27, 2013, becomes another chance to win over 100 prizes totaling more than $25,000.
If you’re already enrolled in the NAEDA Shipping Program, click here to register today and receive your first entry into the sweepstakes, and to receive additional chances based on your FedEx® shipping during the Sweepstakes time period. For complete details see Official Rules.
This tip is brought to you by PartnerShip®, the company that manages the NAEDA Shipping Program. For more information or to enroll in the program, email sales@PartnerShip.com or call 800-599-2902.
NAEDA introduces digital edition of the Equipment Dealer Buyer's Guide
For years the North American Equipment Dealers Association has published the Equipment Dealer Buyer’s Guide for dealer members and associates. This annual directory of equipment industry manufacturers, suppliers and distributors is a sought after publication that dealers reference year round.
Dealers are no strangers to incorporating new technology in the operation of their business and to meet the ever increasing technological needs of their customers. In today’s digital world, we have received requests that the Buyer’s Guide be provided in a digital format so that it can be viewed on-line on their computers and mobile devices. We are therefore pleased to introduce and debut our on-line digital version of the NAEDA’s 2013 Equipment Dealers Buyer’s Guide.
All of the editorial information, company and product listings appear in the new digital version just as in the printed edition. However, the digital versions is more interactive with live links to company contacts and websites with the potential for embedded video displays, slide shows, and blow-in cards from companies and advertisers.
We suggest you bookmark this link, digital.naeda.com so you can access the digital edition of the 2013 Equipment Dealer Buyer’s Guide throughout the year, and share it with your customers, clients, and colleagues.
Whether you prefer print or pixels, our goal is to provide you with the industry’s best reference manual for companies, products and services catering the equipment dealer.
Tip of the Month
Are you having problems logging into your myKPAonline account? Check the following!
Dealership Winter Safety
Winter Illness Prevention
- Make sure the address in your browser says Mykpaonline.com, not just kpaonline.com
- Remember, if you have a mykpaonline.com user profile, you do not need to sign into training using the MSDS log in. This can cause duplicates and confusion when looking for completed training.
- There are MSDS posters available in your online documents. Hanging these up will give the techs and non-MKO users easy access to their login information.
- Please make sure CAPS lock is OFF. Passwords are case sensitive.
From the NAEDA Office
NAEDA appoints New President & CEO
Richard “Rick” Lawhun will assume office on January 1
The NAEDA Board of Directors has named Richard E. “Rick” Lawhun president and chief executive officer, effective Jan. 1, 2014. Lawhun has more than 30 years of experience with demonstrated leadership in strategic planning, program development, membership growth and financial management.
About NAEDA Update
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NAEDA Update is provided as a service to members of the North American Equipment Dealers Association. This information may not be reprinted without permission from NAEDA.
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