Posted on 10/24/2024
These days in the automotive industry there is a lot of private equity money. Groups of investors buying up independent shops. It's happening in the auto body and paint side, and it's happening in the mechanical repair side, too. It is likely happening in other industries as well. A by-product, I suppose, of our country's demographics. The baby-boom generation is largely retired, many of them successfully and financially able to invest. And so, small independent shops of many types are becoming corporatized (new word, there). Is this a good thing, or a bad thing? Maybe both? Maybe neither? What I feel is that when private equity happens and independent operators sell, local culture is at risk. The focus often shifts from community service and involvement, to making sure the numbers pencil out, every time. Does this make for bad business people? Not necessarily. But it might remove some of the warmth, compassion, and understanding that you used to have when doi ... read more