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      "text": "So there are clearly 2 or 3 more points of margin improvement available in the Dealer market over a planning horizon.",
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      "text": "Gary Butler, ADP, Former CEO: \"Yes. Again, the business model there is no different than Employer Services. Again, sans acquisitions or significant investments, we would expect the core Dealer business to improve its margins 0.5 point a year as a way to think about it. So there are clearly 2 or 3 more points of margin improvement available in the Dealer market over a planning horizon.\"",
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      "text": "Gary Bisbee, Lehman Brothers: \"Then just the last question -- the Dealer margin is obviously doing terrific now that you've lapped the Kerridge. Can you give us a sense, as you look out over the next few years, what's sort of the margin potential of this business? Does it remain substantially above the levels you've been reporting in the last couple of quarters?\"",
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      "text": "\"Then just the last question -- the Dealer margin is obviously doing terrific now that you've lapped the Kerridge. Can you give us a sense, as you look out over the next few years, what's sort of the margin potential of this business? Does it remain substantially above the levels you've been reporting in the last couple of quarters?\" — Gary Bisbee, Lehman Brothers; \"Yes. Again, the business model there is no different than Employer Services. Again, sans acquisitions or significant investments, we would expect the core Dealer business to improve its margins 0.5 point a year as a way to think about it. So there are clearly 2 or 3 more points of margin improvement available in the Dealer market over a planning horizon.\" — Gary Butler, ADP, Former CEO",
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      "kind": "title",
      "text": "Case Study #2 – CDK Global: ADP Management Was Satisfied with CDK’s Margins",
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