The background sounds good, but spent 25 years in the car dealership business?
Sells big ticket merchandise--$18,000 to $45,000 cars--PBY sell a big ticket at around $250 to $400 mostly small items below $100. Not sure if the sales propostion is the same.
Comes from business where the brand name is supported by Hundreds of millions of dollar ad bugets from the manufacture--advertising on all TV channels, radio,news paper, magzines,and sport sponsorships, etc.-- gets major co-op dollars to advertise in local market with manufacture.
Dealership service department works on one brand only, PBY works on multiple brands-- dealership works on late model cars at the most, PBY works on older cars with more problems and dealership does lots of warranty work that bring customers back to the shop.
Tech training at the dealership is the best in the world and sponsored by the manufacture, not so at PBY, and at the dealership training is on one brand.
Manufacture supports dealership in promotions such as advertised rebates, etc. Not neccssary so at PBY. Less competive pressure on pricing (cars,parts,service) the dealerships at the most part sell off the same manufacutre price list with the same discounts.
Dealership sells cars, service,parts. Few dealership run a commerical business where they are delivering the parts. PBY sells parts(DIY), accessories, tires, service, scooters and a commerical parts delivery business.
He is probably the right man for the job-- and he has lot of help at PBY who have been there doing a great job, such as Harry, Mark and so on.
My statment of January 08 still stands clearly correct and spot on.
All you Polyanna types had to just wait two months to hear it from the company with the departure of Jef with his bag of loot and no changes or results in his wake EXCEPT he sold off your realestate to fund his bonus and converted Pepboys into renter status.
Haven't any of you all realized this company is incompetant at the top?
Pepboys: Great greasemonkeys but lousy management
You Dumb Bunny --
Jef hasn't done one single thing so far that has made the investment community stand up and shout. Has he???
His silence is probably just a smoke screen for incompetitance, don't you think.
The shareholders have not benefited from his work so far.
How long must any human being wait for some positive action and news from this company??
Does anyone hear customers saying #$%$... that Pepboys store really has gotten better, I just feel compelled to go in there and spend my money"
I dont know of anyone who has turned a company around in ten months. This guy Rachor WILL get the company and stock back to where it should be this year. All of you naysayers watch out and be prepared to come back on here and say you were wrong about this guys leadership.
Thanks pbylooking, but I figured you guys were in fact thinking it was Jeff or some hired hand. Those that get to know Jeff, will see that he has way to much class to even make up some bogus message board name to defend himself. I wish all of you well in this transition you are going through.
I hate to see you go away-- you were such a great PR man for Jeff (maybe you are Jeff??). Anyway stick around, I did so much enjoy your post.
Good luck to Jeff on his first day at PBY, and good luck to the days to come.
Good Ideas can start pretty simple, in the "old days" we had things like a suggestion box. What about incentives for business improvement suggestions (any level, stores, DC's, etc) Bring back contests (remember Steve Shaneyfelt ?), get the stores fired up about sales AND get the Support Center fired up about the STORES. We all need to remember why we are here.
Does it take product knowledge to make a successful company�.yes but after that it is the art of interaction and we all interact with our family, friends, co-workers, etc. This is what separates a run of the mill company/human being from a Great Company or Person. Instead of just going over to a friends house to hang out what if you went over to a friends house and tried to make your friend feel special. Are there those at work that you really like to be around? Why? Look at your expectations and when things don�t go the way you want, what do you do. Most of us become unhappy! Welcome adversity, challenge it and when you overcome feel the strength that comes with it.
The design of Life is so spectacular. If you work hard at a hands on job you develop a callous on your hand it, is part of life. With the soft hand you get cut easily and want to quit. With a tough hand you easily do the task at hand. Look around and you'll find countless examples like this. Fight against adversity, hate it and fail but make it a challenge and you have made life truly rewarding.
It would be a sad day for me if those in power were able to sell off PBY in pieces for the value of its assets. Yes as an investor the main focal point is return on your investment BUT and it is a big BUT that is where PBY lost its way. PBY lost its way when they started focusing on Profit instead of its people. Thru the years they have poisoned the well (many of its people). Take many like Faststeve that could be a tremendous asset but have become so blinded by hate that there may be no cure for people like him. Such a waste and yet such a talent. Yeah I�ve heard that Rah Rah BS so many times before many will say. What do you do clean up the existing well or dig a new one? It has to be both. Any corporation without its people ceases to exist. Nothing in life exists with out People. Their ideas, Their hard work, the love for what They do, . Their continuing when mistakes want overwhelm them, for that is where the hardening of steel happens. If one lets their hate/anger/selfpity/ego keep them from saying I�ll try it again, have doomed themselves in essence to a life without hope�anger/despair. For me I look up and say thank you for the chance to overcome! I truly think that the whole can be greater than its parts. Yes the mechanics of the business has to change(the easy part) but the heart (attitude) of PBY can�t survive if it doesn�t change also. How can you make selling parts and repairing cars fun without sounding like so many Rah Rah people that say �be happy�, �be positive�,�put a smile on your face� WHEN you feel lousy, hate your job and despise some of those you report to? Tall order and it doesn�t happen when you snap your fingers. Look around (don�t reinvent the wheel) see what others are doing. My wife hates Jim Cramer but for the average person he has made stocks entertaining while at the same time given them an education, Starbucks biggest asset is their people just ask Howard Shultz. While many at Wal-Mart don�t like their job Wal-Mart has always know what is important! Their Customers. Wal-Mart is also learning about its staff for if their personnel is unhappy it will show when they service the customer. I hate the guy that runs the King of Cars. For me he is one of those Rah Rah guys that do stupid things to make a sale. So many Rah Rah people, look at the game show and their auditions all looking for the same high energy people that jump hop, scream make funny faces try to look cool. How do you make an environment where the staff look forward to coming to work. How do you turn selling parts and fixing cars into an enjoyable environment? It�s more of an art form than the same canned Rah Rah that many come to disrespect. We are all creatures of habit that are constantly learning. Yes Learning even when we don�t even realize that we are. My wife picked up the saying �So True� from me. As I look back I�ve picked up saying from those around me. It is just as easy to pick up something nasty or negative as something positive. That�s why advertisers repeat repeat repeat and then add music and bingo you have a jingle �Winston tastes good like a cigarette should.�
Old parts guy- You have a few good points- I still work for the company, my benefits were cut, we laid off friends, we watched the Larry and Harry show destroy share holder value and dismantle the company-
In the beginning we listened to the new ideas and they failed miserably but they were book sellers. They knew nothing about the industry and as result have no credibility. Atleast with Jeff he has a proven track record in our industry. He has proven to be a winner. If you really work at PBY you understand how rare that is. The golden parachutes tick me off too. The people that receive them are those that have been our leaders(non-leaders) and are most responsible for our profitability or losses. If I were the CEO I would have a hard time figuring out who on the xcom was worth keeping.
On those points we probably agree.
I disagree with you on several points. I hope those people that dont pick up the phone, that put up road blocks to progress, make excuses, constantly complain -are termed and with out hesitation. They make everyones job tougher than any bad CEO could because you have to interact with them daily. These folks have been this way since before Mitch and yet some how they are still around. These people were not happy during the "good times" and they are not happy now. I dont think Charlie thought he was threatining he was just assumming that kind of an attitude would not float at a good retailer. He obviously has never worked for PBY.