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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