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Related Party Transactions (Tables)
12 Months Ended
Dec. 31, 2011
Related Party Transactions [Abstract]  
Company's automotive joint venture relationships
             

Location

 

Dealerships

 

Ownership
Interest

 

Fairfield, Connecticut

  Audi, Mercedes-Benz, Sprinter, Porsche, smart     86.56 % (A) (B) 

Las Vegas, Nevada

  Ferrari, Maserati     50.00 % (C) 

Frankfurt, Germany

  Lexus, Toyota     50.00 % (C) 

Aachen, Germany

  Audi, Lexus, Skoda, Toyota, Volkswagen     50.00 % (C) 

 

(A) An entity controlled by one of the Company’s directors, Lucio A. Noto (the “Investor”), owns a 13.44% interest in this joint venture which entitles the Investor to 20% of the joint venture’s operating profits. In addition, the Investor has an option to purchase up to a 20% interest in the joint venture for specified amounts.
(B) Entity is consolidated in the Company’s financial statements.
(C) Entity is accounted for using the equity method of accounting.