The 65-Year Dealership Empire Born Out of the Wild West of NY Auctions & The Hard Lessons Learned | Laddie Stern of Stern Auto Group
Laddie Stern is the Founder of Stern Auto Group, a 20-store empire he has built over 65 years in the car business.
He started as a wholesaler for his uncle before buying and scaling the Skyline and Hatfield auctions into the country's largest privately held auction company, then returned to grow a new car group alongside his son Jonathan.
He speaks candidly about the 2008 downturn that changed how he manages cash for good, the mistakes he made prioritizing the business over his family, and what he looks for before letting the next generation, including his own grandchildren, into the business.
Topics:
03:50 Odometer Rollback Was Legal.
06:30 Auctions Beat Casinos.
09:10 $7M Property Now $50M.
13:25 Cash Is Always King.
14:35 Undercapitalization Kills Dealers.
18:00 Hand-Sells Wholesale To Prevent Theft.
20:50 Never Burn A Bridge.
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