Message from Steve Starks, CEO, LHM Group of Companies –
One day in early 2008, Larry H. Miller gathered a group of leaders together in his office and confidently explained how we would successfully navigate the Great Recession and emerge stronger from it. I remember him specifically saying that it was our responsibility to “preach hope” to fellow employees, customers, and the community. I’ve thought about Larry’s message over the past couple of months and believe it is as applicable now as it was then.
In the last few months, our worlds have changed in ways many of us would never have imagined. COVID-19 has impacted the way our children are learning, the hygiene protocols in our homes and in public places, the way we work and hold meetings, and the ability for some of our properties to conduct business.
It is humbling and impressive to witness the flexibility and leadership within our organization. The Larry H. Miller Group of Companies began preparing for the coronavirus at the end of February and transitioned to a rapid pace on March 11, when NBA games were postponed and the effects of those decisions flooded into other parts of our business: movie theatres, baseball games, concerts and events, real estate, finance, and dealership service and sales.
One cannot downplay the significant impact this pandemic has had on our businesses, families and communities. While LHM Dealerships, Prestige Financial Services, Total Care Auto Powered by Landcar, and LHM Management Corporation are operating, most of our Sports & Entertainment properties are currently shuttered. Their reopening depends on sports leagues, national studios, and promoters to find confidence in operating with large groups of people. Unfortunately, these industries may take longer to reopen than others. Our teammates in Larry H. Miller Sports & Entertainment are eager to get back to work and are using this intermission to tackle projects that will propel the business forward when we can reopen.
The incredible efforts of Larry H. Miller Dealerships during this time have sustained the rest of the organization. Each state we do business in has responded to this crisis differently, and our leaders have been able to make the most out of whatever opportunities these various circumstances have provided. Their hard work, sound decision making, and customer service during these past two months are bright examples and something we will always take great pride in.
Likewise, Prestige Financial, Total Care Auto, and Larry H. Miller Real Estate have been able to seamlessly adjust to these circumstances, including working from home and utilizing technology to stay connected and productive. The performance of these companies has not only stayed consistent but has actually improved in many instances. All of this is another testament to the incredible people and enduring values of the Larry H. Miller Group of Companies.
We can also be grateful for Gail and the Miller family during this time. They have been involved, resourceful, empathetic, and constant in their support of all of us. As an organization, we couldn’t ask for better shareholders.
As we move forward and emerge from the challenges we are facing, we must remain flexible, drive innovation, and encourage people to focus on the positives and opportunities that lie before us. We have procured personal protective equipment, sanitizer, and cleaning products to help keep our employees and customers safe. Our technology teams will continue to enable us to be productive, connected, and responsive to our customers’ needs. We will also stay close to and work with other community leaders, policymakers, and our industry associations.
Things will continue to improve. While the “new” normal may look different, we will be well-positioned for the future as we continue to face these challenges with hard-work, collaboration, and hope.
Thank you for your dedication to this organization and the care you provide to your loved ones and families. Please stay safe and stay healthy.