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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (Oct. 8, 1997)
-c - • • 1 Page C2 O CT. X, 1997 (tljr {la rtla tth <tfW&nmrT OPMENT I Generation X Republic Industries, Inc. finds itself misunderstood in work force Invests In Ark Direct Capital Fund Thirty” (Amacom). Historian Neil sked how best to moti Howe, of Great Falls, Va„ added: vate people in the 20s. "When they coiné to the job they authorities cited on-the- leave their personal life behind them job training, “fun" work environ but when 5 o ’clock comes they 're out ments, personal recognition, and rea of there and this sends (Baby) Boomer sonable work schedules. “It seems like nothing is ever really managers up the wall .” “Organizations that can oiler (Gen enough for them,’’ the 29-year- X ’ers) fast, flexible, and fun cultures old San Francisco woman said rue arc becoming the preferred employ fully of her company, a big manage ers,” said Brian Stern, managing di ment consulting firm. “ If you’re giv rector of human resources consult ing 150 percent they think you could ants SHE USA, Boston. be giving more.” Gen X ’ers, Stern said, suffer from Although A na's salary ol nearly “career attention deficit disorder,” $50,000a year makes this Generation meaning they want more — and last. X ’er say, “I feel fairly paid for my “Whereas it used to take upwards education and experience,” she nev of 20 years for a person's career to ertheless complained: build to its ultimate goal, Generation “Tins job definitely dominates my X ’ers tend to have closer to a 20- life and there’s not a lot of time off and month horizon,” Stern said. vacation. We can buy some days “(This attitude) isn’t the (off) but it’s coming out of our own result of selfishness and pockets.” greed” but a reflection of the fact So even though 'the payoffs are that “companies can no longer guar there if you do work hard and take antee a secure, stable future,” he said. c harge of your career,” Ana is as k i ng To keep Gen X ’ers happy, busi herself,’’Should (go for an easier job nesses “must offer them opportuni (that pays less) and have more of a ties to learn and must be willing to let life?” (them) try their hand at new skills," Even though such issues face said Emory Mulling, founder of an workers of all ages, if Ana quits one Atlanta-based outplacement and ex more employer will blame Gen X ’ers ecutive coaching firm. fora “lack of loyalty,” “wanting it all,” " They see each job as a stepping and “not working hard enough." stone in building a career so they Asked how best to moti vate people want to learn as much as they can and in the 20s, authorities cited on-the- gain new skills to be marketable lor job training, "fun" work environ the next job," Mulling said. ments, personal recognition, and rea M anagem ent professor Brien sonable work schedules. Smith of Ball State U niversity, “They don’t want their jobs to Muncie, Ind., recommended that “or consume them," said Richard Thau, ganizations take a more liberal view of executive director ofThird Millenium. career development with their new New York, a youth advocacy group hires.” and author of "Get It Together By A Companies Will Seek Out Minority and Women-Owned Automotive Dealerships epublic Industries, Inc.(N Y SE:RII)an nounced that it has e n te re d in to an agreement with Ark Direct Capital Fund, L.P. whereby Republic will invest $2 million in the Fund and will work with the Fund’s principals to identify investment op portunities in minority and women- owned automotive dealerships, au tomotive rental companies and re lated businesses. Ark is a minority- owned and operated capital invest ment fund based in Chicago. According to Steven R. Berrard, President and Co-Chief Executive Officer of Republic Industries, “It is important to Republic’s continued success that we invest in high quality minority-and women-owned automo tive dealerships, automotive rental R companies and other related busi nesses. We want to be sure that as we grow, our network of dealerships in cludes a diverse range of businesses that meet the transportation needs of every community. Our partnership with Ark DirectCapital is an excellent way for Republic to meet these objec- From Left to right: Peter Howard, Attorney-At-Law for Ark Direct Capital Fund, L.P.; Michael Granger, President o f Ark Direct Capital Fund, L.P.; Tom Hawkins, Senior Vice President o f Corporate Development o f Republic Industries, Inc.; Wayne Huizenga, Chairman and Co-CEO o f Republic Industries, Inc. and David Barclay, Vice President and Associate General Counsel o f Republic Industries, Inc. lives.” According to Michael Y. Granger, one of two| founding principals of Ark. “Ark’s agreement with Republic Industries is an important step for ward in Republic's efforts to identify high performing automotive busi nesses that are controlled by minori ties and women. We believe that Ark will provide Republic with important guidance in this effort. We look for ward to working with Republic to help the company realize the benefits of reaching a more diverse business community." Ark Capital M anagement was formed in 19 9 1 by Michael Y. Granger and Xcylur R. Stoakley to identify market opportunities for venture capi tal investm ent in m inority- and women-controlled businesses. The principals are both venture capital professionals with substantial expe rience in selecting, structuring and m anaging private equity invest ments, and have developed an exten sive network of relationships within the general business community and the minority business sector. Republic Industries. Inc. operate subsidiaries in the automotive retail ing. automotive rental, automotive financial services, solid waste ser vices and electronic security services industries. The company owns the w orld's largest chain of new car dealerships and is building a chain Of used car dealersh ip s under the AutoNation USA brand name. Re public also owns the National. Alamo, Value, Snappy, and Spirit car rental companies, and solid waste service and electronic security service com panies which operate under theirown regionally known business names. B anking O n A merica " Jammin’ That’s America to me. I
