TMCP #560: Ask Rick – Long Term Employee Retention – Niche Restoration Parts Being Discontinued – Classic Car Investment VS The Stock Market

FEATURE INTERVIEWS:

Rick Schmidt – Ask Rick:

It is December and time to think Christmas, Giving and another riveting Ask Rick segment where I ask him the tough questions!

Rick’s Take on How To Keep Employees Long Term:

Scott Halseth receiving his brand new Mustang!

Rick and his Dad have managed to hold on to employees a very long time. Many of his employees have been with the company in excess of twenty years and Rick likes to celebrate those anniversary occasions with a token of appreciation and recognition of that dedication. You can go to the NPD Facebook page and find images of the Schmidts congratulating veteran employees on this accomplishment. Recently though Rick had to come up with a special gift for an employee who not only made it twenty years, but did it twice!

Scott Halseth, the NPD Ford brands Product Manager, has been with National Parts Depot for FORTY YEARS and Rick just had to come up with a fitting gift for him! Recently Scott was surprised at the Michigan NPD location with the presentation of a Grabber Blue Mustang GT in recognition for his commitment to not only NPD but to the customers and providing over the top service for such a long time.

In the video below you can see see the emotion over this recognition but it did not stop Scott from quickly taking the keys and driving away! 🙂

Rick said he has had employees leave NPD for “greener pastures” (more money) only to come back later saying it wasn’t worth leaving. There is a team effort and the sense of working together as a family that exceeds top dollar and makes working at NPD worth staying ten, twenty, or even forty years.

Rick’s Take on the 2023 SEMA show — Suppliers Discontinuing Slow Moving Restoration Parts:

One of the reasons Rick attends SEMA every few years is to catch up with suppliers and talk to them face to face. Sometimes you have to look them in the eye to see what it is they are actually thinking. In some cases suppliers have started to drop the manufacturing of small parts rom the supply chain nothing that and the response was that it simply “came down to numbers.” Listen in on Rick’s take of the long-term parts ownership and how he sees the needs of customers both weeks, days, and years from now.

Ricks Take on Listener Questions:

From listener Kyle:

Hey Rob,

I was listening to the most recent podcast, and Rick’s comment scoffing at “Classic Cars are a terrible investment” was just hilarious to me. With very rare exceptions aside, cars ARE a terrible investment for the average person, especially in the long term. Unless you’re talking about someone like Rick, that have both the financial wealth & wealth of knowledge to buy the best/rarest/lowest mileage examples of at any given point in time and rarely drive them…. Then it’s not as much of a gamble. Short term bumps like COVID are also less predictable.

Obviously, you CAN beat the market, but statistically, you won’t… so buy something you love and drive it!

-Kyle

6 Car Reviews – the Christmas Edition!

Santa is stuffing the stocking of one Mustang lover with one of these low (no) mile Mustangs. Santa also knows you have kids going to college, and you’ll cash these in in 18 years! Which one should you put on your list for the best long term return? They’re both free to you……..

Car #1:

https://bringatrailer.com/listing/2000-ford-mustang-svt-cobra-r-11/

Car #2:

https://bringatrailer.com/listing/2020-ford-mustang-shelby-gt350r-60/

Santa Needs a Parade Car –

Santa and his Elves Need to Pick One Up Last Second. They’re going to Sell it – for Charity – after the parade. Which gets the best ROI? It needs to be red, and it needs to be a convertible!