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No Pain, No Gain.(Column)
Byline: Dutch Mandel
Here's your resolution, auto execs: Cut. Be samurai-swift. Take more than you need. But be quick. Or die.
Not my words. They are paraphrased from those who know: the Bills, Campbell and McKinley, two of the brain trusts at W.Y. Campbell & Co., the largest middle-market automotive merger and acquisition firm in the country.
They're in Detroit. They know tough times. They know good times. They know nimble. They deal with car companies and suppliers and businesses outside The Car Biz, too. They've seen this before. It is ugly.
"When it comes to our hometown autos, I'm currently a doom-and-gloom guy,'' says Campbell, without apology. Campbell's nature has served his clients admirably over the years.
"We do well when things are good, we do well when things are bad, and we do so-so when it's in between.''
Things are bad in Detroit. His company is busy. To no end this depresses Campbell, who watches, among other Southeastern Michigan trends, his house value sink.
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Source: HighBeam Research, No Pain, No Gain.(Column)