Though he may be one of the world’s most successful investors, Warren Buffett doesn’t have any experience selling cars. So why did the manufacturers approve his acquisition of Van Tuyl? One reason was undoubtedly his pledge to appoint someone with decades of dealership experience, Jeff Rachor, former COO of Van Tuyl, the CEO of Berkshire Hathaway Automotive Group.
Good, experienced management is one requirement for being approved to acquire a dealership. Tom Schindler, president of Automotive Advisors, Inc. delves into that and the other areas manufacturers focus on when deciding whether to approve an acquisition. As we’ve seen in some instances, even meeting those requirements may not be enough if the factory has someone else in mind. But having the basic qualifications at least gets your foot in the door.
One of the advantages of being a niche publication is our ability to sometimes delve into minutiae, especially when it may save you money. Our second piece this week aims to do that. Ross Henderson of Emptech takes us through the perils of an improperly-handled “Form I-9.” It could save you a lot of dough.
Naturally we also have our popular Transaction News.
Enjoy!
Alysha Webb, Editor and Publisher
