Business

"Next Warren Buffett" Takes Control of Lauderdale Auto Retail Giant

By Thomas Francis Wed., Feb. 4 2009 at 1:59 PM
Categories: Broward, Business
Eddie Lampert.jpg
Fort Lauderdale-based AutoNation, which has been battered by the recession like the rest of the auto industry, will have a majority shareholder -- ELS Investment Inc. That's Eddie Lampert, a financier who's made his billions by identifying companies who have ruined their potential through mismanagement. Lampert swoops in, demands competency, gets it, and thicker profit margins tend to follow.

So if you have a prominent management role in AutoNation, watch out. Vice President of Corporate Communications Marc Cannon says that "there won't be anything new or different," that "the board will continue to be independent," and that Mike Jackson will remain chairman and CEO.

In the meantime, check out this Business Week feature on Lampert. Dude's so slick he talked his way out of a kidnapping.



Tags:

Auto Nation, Eddie Lampert, The Great Depressing
Email to Friend
Print Article

We Recommend

My Voice Nation Help
0 comments
  Livefyre
Sort: Newest | Oldest

Now Trending

VOICE Daily Deals

From the Vault

 

Slideshows»

Retail

More >>
©2013 New Times BPB, LLC, All rights reserved.
Browse Voice Nation
  • Voice Places Broward / Palm Beach

    Voice Places

    Find everything you're looking for in your city

  • Happy Hour App

    Happy Hour App

    Find the best happy hour deals in your city

  • Daily Deals

    Daily Deals

    Get today's exclusive deals at savings of anywhere from 50-90%

  • Best Of

    Best Of...

    Check out the hottest list of places and things to do around your city