• Do You Have an Exit Strategy?

    Chris Leedom - Leedom

    Chris Leedom

    Over the past three decades, since 1995, I have had the chance to work with a countless number of clients. Typically dealer-owners from across the country. Some of these clients have been “big,” some “small,” and most “medium.” They have been older and younger. Some have made lots of money others have struggled. Some have family involved in the business others have no family involved. Some had tragedy strike and suffered illness or death others are involved well into their latter years. Regardless of the situation or differences they all have contemplated and face one key question every business owner should address – “What is my exit or succession strategy?”

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  • The Most Critical Decision You May Face Is...

    Chris Leedom - Leedom

    Chris Leedom

    In the past six months I have had more discussions than ever with many dealer clients that touch on a common theme. That question is “what exit plans are available and how do I handle succession planning?” I have had these discussions at conventions, Twenty Groups and on an individual basis. It is an issue that sooner or later every business owner must face.

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  • The Case for Evolving Underwriting

    David Brotherton - Leedom

    David Brotherton

    Back in March 2015, the CFPB issued a press release entitled “CFPB Considers Proposal to End Payday Debt Traps” (http://www.consumerfinance.gov/newsroom/cfpb-considers-proposal-to-end-payday-debt-traps/). Ostensibly, the proposal covers “Payday Loans, Vehicle Title Loans, and Certain High-Cost Installment and Open-End Loans” and focuses on the need to avoid “debt traps” that are originated “based on a lender’s ability to collect and not on a borrower’s ability to repay.”

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