Remembering Business During 2008's Recession
I remember September - December of 2008 VERY clearly. Now that there is a decade between us, I thought it would be a good time to do a throwback to a time when we set off on an incredibly turbulent season in the car business and the economy in general. We hit some of the highlights (or more appropriately, low-lights) as I talk about the EXTREMELY important space between when a situation gets our attention and our reaction to it.
Lehman Brothers, Citigroup, auto bailouts, bankruptcies, cash for clunkers…it was NUTS!!! I was on the bleeding edge of going out of business as our customers, dealers, were getting crushed…but we didn’t.
As an industry, we didn’t. Nobody said it was easy.
I find Alex to be a genuine person. There is a deep care and loyalty to his team, a commitment to the industry he serves, and a whole lot of empathy for the modern car buyer.