American's Dick Colliver has labored in the auto industry for 50 years.
Colliver, now a senior vice president, served stints at several auto makers, includingand . But he got his start repossessing cars.
“I was the ‘repo king’ of Kansas City,” he says at an automotive conference in Traverse City, MI. “Talk about getting close to the customer!”
Colliver says he would patiently wait outside for defaulters to arrive home. Once, he repossessed three cars and a truck in the same day - all to the same dealer. The dealer told him, “Son, I can't sell ‘em as fast as you're bringing ‘em back.”