Austin Ligon
Austin Ligon
William Austin Ligonis the co-founder and retired CEO of CarMax. He retired in June 2006, and is now a private angel-stage investor. Among his recent investments are Gazelle, Redfin, Rev.com, Car Trade, Eneza Educationand Tazza Kitchen...
NationalityAmerican
ProfessionBusinessman
CountryUnited States of America
growth cost results
Margins on other sales and revenues grew as a result of the growth in extended service plan revenues, which have no associated cost of sales, and the growth in our service margin, reflecting improved overhead expense absorption.
years issues focus
After careful consideration, we have decided that for our next fiscal year, we'll issue guidance on comparable store used unit sales and on earnings per share only for the full fiscal year. We will no longer issue quarterly guidance. This decision reflects our continuing focus on longer-term store, sales, and earnings growth and on return on invested capital, and our recognition that the performance in shorter-term periods can be more volatile than over the longer term. As we report our quarterly results, we plan to comment on how our performance is tracking against our annual guidance.
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The Obama administration took rapid and decisive action to restructure GM and Chrysler. Within a fairly short period of time these companies were working effectively again.
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Private-equity and hedge-fund guys typically come into a situation of mediocrity, where rapid change may result in a profit.
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President Obama has shown he has the vision to support average consumers and taxpayers.
area base buy car cars consumers continue easy experience forward fun grow looking opportunity ourselves percent shopping store time
We have revolutionized the way consumers buy cars. This will be the first time northeastern area residents will have an opportunity to experience a no- hassle, no-haggle, fun and easy car shopping experience. As we continue to grow our store base by 15 to 20 percent each year, we are looking forward to introducing ourselves to more and more consumers in the Northeast.
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With an estimated television viewing audience of approximately 185,000, Charlottesville, Va., represents our first entry into a small market. We will be adjusting our store footprint, inventory, and our staffing model in this store, as a result of the smaller overall sales opportunities provided by this market. This store's performance over the next few years will help us better understand our longer-term opportunities in small markets.
expect few lost nearly next recover resulting sales
We expect we will recover nearly all of the resulting lost sales during the next few months.
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As a businessman, I know President Obama understands what it takes to spark economic growth, because I have seen him in action.