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Taking Your Dealership Public

David Meyer, CEO & Chairman, Titan Machinery Co.
March 13, 2013 | Posted in Dealer Succession
Titan Machinery Co. isn't the first dealership group to become a publicly owned company. Other dealer groups in the farm and construction equipment and trucking markets include Cervus, Rocky Mountain Equipment, H&E, Toromont, Finning and Rush Enterprises. But when it comes to being aggressive in its expansion, few can compare with Titan Machinery. Today, the dealership group operates a network of 105 dealerships, including 2 outlet stores, as well as 13 European dealerships in Romania, Bulgaria and Serbia.
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Home-Grown Grooming of Talent

Keith Kreps, Executive Vice President, RDO Equipment Co.
March 13, 2013 | Posted in Dealer Succession
Keith Kreps, executive vice president, RDO Equipment Co. (2010 Dealership of the Year), Fargo, N.D., gave the most candid presentation of the day, detailing RDO's mistakes as it grew at an accelerated pace during its public years (1997-2003). Despite the pain and turmoil of that era (stemming from leaders ill-equipped on the industry and guided by stock pricing motives), those times taught a valuable lesson that the firm can R-O-I today. That is, manageable growth could only come through an internal employee development program that ensured people were prepared for the 'RDO way.'?
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Employee Ownership (ESOPs)

Clint Schnoor, Chief Operating Officer and Director, Agri-Service Inc.
March 13, 2013 | Posted in Dealer Succession
Agri-Service's Clint Schnoor walked attendees through the nuts-and-bolts of the Employee Stock Ownership Plan (ESOP) structure. Schnoor, who is president of an ESOP association, explained that ESOPs are qualified retirement plans designed to own the stock of the sponsoring company. Agri-Service, a 9-store AGCO group, was founded in 1990 and moved to an ESOP in 2010. In effect, all 170 employees are now "owners."?
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Mahindra USA Featured as a Case Study at Dartmouth College

February 15, 2013 | Posted in Dealer Succession
Mahindra USA, the number one selling tractor brand in the world based on volume, is now showcased at Tuck Executive Education as a case study on successfully implementing reverse innovation. Mahindra USA (MUSA) entered the U.S. tractor market in 1994 and proceeded to establish itself as a successful niche player using innovative marketing and sales strategies.
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Precision Farming Dealer Accepting Nominations for First Annual Most Valuable Dealership

November 13, 2012 | Posted in Manufacturer & Dealer Issues, Dealer Succession
Precision Farming Dealer is proud to sponsor its first-annual Award of Excellence program to recognize North America's premier precision farming dealer. Dealers, manufacturers and others are invited to participate by nominating top precision farming dealers from across North America. There is no limit to the number of nominations that an individual can submit. We will not reveal to the dealers who nominated them for this award.
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State-of-the-Art Building Meets Top Notch Service

October 17, 2012 | Posted in Dealer Succession
The Birkey's Farm Store dealership in Henry, Ill., isn't just the company's latest acquisition; it's a brand new facility. Birkey's acquired the store formerly Read Bros. from Bob and Jerry Read in July. The new store opened in August and is Birkey's first acquisition since acquiring its Annawan, Ill., store in 2008. The dealer group has 12 stores in Illinois and one in Indiana.
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Wider World of Business

Tough Decisions: Deciding to Sell the Family Business

October 15, 2012 | Posted in Dealer Succession
Source: Barbara Taylor, The New York Times
When it comes to American institutions, the family-owned business ranks right up there with baseball and apple pie. Yet whenever I am called to meet with business owners from more than one generation, I do so with mixed emotions.
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