Pub 2 2021-2022 Issue 1

GETTING TO KNOW PAUL MCNAMARA What made the auto industry your career of choice? You come from the banking industry, so how did the career segue happen? Well, from banking to cars, many may not see a connection, but in reality, it was pretty much a linear path. My father, Edward McNamara, worked for GMAC — General Motors Acceptance Corp — for 45 years; I worked for them as well in college, doing telephone collections. When I graduated college, the entry-level position at GMAC was outside collector. After talking to collection customers on the phone while going to college, I knew I didn’t really want to meet them in person. Fortunately, I was hired by Southeast Bank and went through their Commercial Lending Training program. When I completed the training, I was placed in the Dealer Finance Department because of my auto background from working at GMAC. I handled inventory floor plan financing and related loans, so all my customers were auto dealers. I called on all dealers in Florida. The Reeds were customers of mine for over 12 years before I joined their organization. The dealership started in 1950 and is currently in its third generation with Raymond Reed. He offered me a position with their company, and I have loved every minute of working with this dealership group. You have been with Reed Nissan for almost 15 years. How has the car industry changed from then to now? There’s much more technology involved in how we do business now, as opposed to then. The dealership where you are working is 70 years old and a family-owned dealership. What are some of the challenges and rewards in working for a family business? I personally prefer working for a family business because I feel like I am part of the Reed family and want to help continue building their business. Family businesses are different because they follow the values of the family, not the mission statement of a corporate entity. These businesses are usually very involved with the local community because the owners live there. The business is operated on how the family wants it versus answering to stockholders. 8 Pub Yr 2 | Issue 1