We are getting fired up about attending this year’s DMA & Then Conference.  Each year, &THEN becomes the global HQ for the data-driven marketing industry. It’s a place where ideas take root and business gets done.

This year’s conference looks fantastic.  Sessions on Blockchain Marketing, Print and Digital Integration, and Internal Data strategies are only a few highlights.

We hope to you see there.

The Graph above shows sales volume of new vehicles, month-to-month from 2017 and 2018.  Overall, new car sales are up 1% YTD.  June numbers rose by 7% with an increase of over 100K vehicles sold.  March finished in a close second for highest increase of sales  with a 6.3% up tick or 97,000 more sold than in March last year.

July and April bring up the rear with April showing a decrease of 5.3% and July at -3.2% compared to last year.

The vast majority of bankruptcy cases are filed by consumers rather than businesses. Most consumer cases are filed under either Chapter 7 or Chapter 13 of the federal Bankruptcy Code. Approximately 70 percent of cases are Chapter 7 liquidations filed by consumers, and nearly 30 percent are Chapter 13 wage-earner repayment cases. This fact sheet describes the United States Trustee’s primary responsibilities in Chapter 7 and Chapter 13 consumer bankruptcy cases.

Chapter 7 Cases
In Chapter 7 cases, the United States Trustee litigates issues that affect the integrity of the bankruptcy system. For example, the United States Trustee might:

• Argue that granting the debtor a bankruptcy discharge would constitute a “substantial abuse” of the bankruptcy process.
• Object to excessive fees requested by the debtor’s attorney.
• Take action against unlawful practices by bankruptcy petition preparers–generally, non-lawyers who receive a fee to prepare a consumer debtor’s bankruptcy papers.

The United States Trustee also appoints and supervises the Chapter 7 trustees who administer consumer debtors’ bankruptcy estates. In most Chapter 7 cases, no assets are available for distribution to creditors. However, if a Chapter 7 debtor has property that is not exempt from creditors’ reach under state or federal law, the trustee may sell that property and distribute the money to creditors.

The United States Trustee appoints each Chapter 7 trustee to a panel for up to one year, renewable at the United States Trustee’s discretion; these “panel trustees” are then assigned to Chapter 7 cases on a blind rotation basis. The United States Trustee supervises the panel trustees’ administration of individual debtor estates; monitors the trustees’ financial record-keeping; and imposes other requirements to ensure that the trustees carry out their fiduciary duties.

Chapter 13 Cases
In Chapter 13 bankruptcy, the United States Trustee supervises the private trustees who administer Chapter 13 cases. In this chapter, the trustee does not liquidate the debtor’s assets, but instead evaluates the debtor’s financial affairs and makes recommendations to the court regarding the debtor’s proposed repayment plan.

A Chapter 13 debtor must propose a plan that devotes all disposable income to debt repayment over a period of up to five years. Most Chapter 13 cases are administered by “standing trustees” appointed by the United States Trustee to administer all cases filed in a particular geographic area.

As with Chapter 7 panel trustees, the United States Trustee supervises the Chapter 13 standing trustees’ administration of individual bankruptcy estates; monitors the trustees’ financial record-keeping; and imposes other requirements to ensure that the trustees carry out their fiduciary duties. The United States Trustee’s supervisory actions include:

• Periodically reviewing the trustees’ case reports, budget reports, bank account information, management skills, court performance, and similar information.
• Ensuring that trustees are bonded.
• Ensuring that trustees are independently audited.
• Determining trustees’ maximum annual compensation and actual necessary expenses.
• Providing training for trustees.
• Monitoring trust account funds.

From The United States Department of Justice website: THE U.S. TRUSTEE’S ROLE IN CONSUMER BANKRUPTCY CASES

Since 2010, bankruptcies have declined by 50.7%, the second lowest number since 1990. Recent research published by The Economist suggests that this overall decline masks significant trends among age groups. BK rates among those over 55 are rising. There are a number of factors behind the trend, one being that the generation now reaching retirement (baby boomers) have always been prone to “going bust.”

Findings from the University of Idaho show that the proportion of all bankruptcy filings made by people over the age of 65 has climbed from 2% in 1991 to 12% between 2013 and 2016. The bankruptcy filing rate has declined over these two decades for those aged 54 or younger.

Across all age groups, job losses, income declines, and medical expenses have long been leading reasons for bankruptcy. Researchers site less generous Social Security, riskier pension plans and higher out-of-pocket spending on medical care as leading reasons for this emerging trend.

Many Americans have no way of supplementing Social Security through savings or private pensions. According to the Employee Benefit Research Institute, in 1979 84% of private sector employees with a pension had at least some element of guaranteed retirement payment in their plan. By 2014, only 28% had any level of defined benefit while the rest were completely reliant on plans that contributed to investment funds with payouts dependent on fund returns. This change significantly shifted investment risks from employer to employee as well as leaving retirees with complex decisions about how rapidly to spend down their retirement accounts, both of which increased the risk of financial misfortune.

As well as smaller and less reliable income flows, older people are facing rising costs for health care. Despite public support from the Medicare program, the Medicare and Medicaid spending report shows that out of pocket spending averaged $2,938 a year in 2012 for those over 65 –that compares to an all-age average of $1,016 and is 20% higher than the figure in 2002.

But while tougher circumstances may play the major role in the greying of American bankruptcy, the data also points to a generational effect at work. In 1991, data from the Consumer Bankruptcy Project suggests the highest bankruptcy rates were among those aged between 25 and 44. In 2001, the highest rates involved the same generation of Americans, now aged 35 to 54. In the period between 2013 and 2016, a little more than ten years later again, the highest rates of bankruptcy were amongst those aged 45 to 64. The trend seems to follow the Baby Boomers generation.

According to AAA, more than 80% of people surveyed are planning a road trip this summer.  That means its time for dealerships to start marketing service campaigns.