With electric vehicles (“EVs”) becoming more popular, many franchised dealers are entering into contracts with vendors to purchase advanced charging stations to be installed at specific dealerships. These purchases are often in conjunction with OEM and government programs that help to subsidize the cost of these stations. These vendors not only sell these chargers to…
Whether you are new to commercial leasing, or a seasoned pro, it is important to be educated in determining whether a commercial space is well-suited for your business and whether you are protected by the lease. Commercial leases are complicated and can be intimidating to tenants. To avoid being taken advantage of by the landlord…
Did you know that in New York once your child turns 18 you are no longer legally entitled to know anything about them? Their school can’t talk to you, even if you are paying for their education. Their health care providers can’t talk to you, even though you are their parent, and even if they…
By now, many dealers have likely heard about the FTC’s proposed rules on dealership advertising and F&I office disclosures (16 CFR Part 463). To help dealers sort through all the commentary on these proposed rules, we have provided a brief summary of these proposed rules as well as some of the highlights of what you…
In my former life as a financial analyst for a Fortune 250 company, a manager and long-time mentor of mine handed me an informative book entitled “Merchants of Debt” that gave an inside look into how private equity (“PE”) firms purchased businesses and operated them to support the continued investment in other businesses. As dealership…
Schwartz Ettenger, PLLC is proud to welcome Marci Goldfarb, Esq. to the firm. Ms. Goldfarb serves as Senior Counsel to the firm and brings with her over 30 years’ experience in providing excellent representation to her clients. At Schwartz Ettenger, she focuses her practice on all aspects of Trusts and Estates. Additionally, Ms. Goldfarb has…
As we head into the second quarter of 2022, the impact of chip shortages on vehicle supplies has not subsided. As a result, many more dealers are facing a steeper challenge of meeting OEM sale metrics than at any time prior to the pandemic. Even before the pandemic, franchised dealers have called out factories that…
MINIMUM WAGE INCREASE Effective December 31, 2021, New York State minimum wage has increased once again. The present minimum wages are as follows: New York City $15.00 per hour Long Island and Westchester $15.00 per hour Rest…
Many of you are back from the 2022 National Automobile Dealers Association (NADA) Show in Las Vegas, recharged and ready to take your dealership operations to the next level this year. It is essential to begin with asking yourselves the following questions: Is your business set up to succeed beyond 2022, long after you’ve retired…
According to recent statistics, there is over $17 billion dollars in unclaimed funds that are being held by New York State. In the first three months of 2022 alone, the state has returned over $90,620,070. The amounts received by individuals varied, but over 59% of the claims were for over $100. Odds are, someone you…
The last 2 years have been a complete roller coaster for employers. The landscape and legal regulations have changed dozens of times. These changes have required employers to constantly shift their workplace to accommodate these rules and to protect their employees. So the big question now is, is it over? And if it is, what…
IS YOUR DEALERSHIP IN COMPLIANCE WITH THE UPDATED SAFEGUARDS RULE? The Safeguards Rule, originally released in 2003 under the authority of the Federal Gramm-Leach-Bliley Act, was amended in October 2021 by the Federal Trade Commission. Unlike the prior version of the rule, the amended rule provides detailed requirements for keeping dealership customer data secure, including…
