TimTalks: Automotive Leadership and Beyond

Reinsurance Leadership Gets An Upgrade With Chad Staples

September 10, 2024 • CarNow • Season 2 • Episode 5

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Description: In this episode of TimTalks: Automotive Leadership and Beyond, Tim explores the leadership principles that have propelled President Chad Staples of Elevation Dealer Services to success. Chad reveals how his company is redefining reinsurance with a transparent and customized approach, helping dealers maximize profits while building strong, value-driven teams.

Contact:

Connect with Chad Staples President of Elevation Dealer Services on Linkedin or contact him at  chad@elevationdealerservices.com

[00:00] - Introduction: The Importance of Leadership in Automotive
Tim introduces the episode, emphasizing the critical role of leadership in creating successful car dealerships.

[02:15] - Chad Staples’ Background and Introduction to Elevation Dealer Services
Chad Staples shares his journey into the automotive industry, starting 16 years ago, and how he founded Elevation Dealer Services. 

[05:30] - Redefining Reinsurance: Transparent Fee Structures
Chad discusses the traditional challenges in the reinsurance industry, particularly hidden fees, and how Elevation Dealer Services is different by offering a completely transparent fee structure. He explains how this approach leads to significant cost savings.

[10:00] - Customizing Reinsurance Based on Dealer Goals
Chad dives into how Elevation Dealer Services tailors its offerings to align with each dealer's growth strategy. He explains the flexibility of their investment strategies, which allow dealers to maximize returns based on their individual risk tolerance and business goals.

[13:45] - The Role of Investment Strategies in Reinsurance
A detailed look at how Chad’s company offers dealers more aggressive investment options, leading to higher returns. 

[17:00] - Setting Up Controlled Foreign Corporations (CFCs) and the 831(b) Tax Election
Chad explains the advantages of setting up CFCs under the 831(b) tax election, which allows dealers to defer taxes on underwriting profits. He also discusses the flexibility in ownership structure and the long-term financial benefits for dealers.

[21:00] - Building a Strong Team: Leadership Values at Elevation Dealer Services
Chad reflects on his leadership journey, emphasizing the importance of servant leadership and creating a positive, supportive culture within his company.

[24:30] - Success Stories and Dealer Feedback
Tim and Chad discuss the positive feedback from dealers who have partnered with Elevation Dealer Services. 

[28:00] - The Growth of Elevation Dealer Services
Chad talks about the rapid expansion of his company, including the hiring of new team members and the addition of new dealer clients. He highlights the importance of maintaining a strong company culture amid growth.

[32:00] - The Law of Attraction in Leadership
Tim and Chad discuss how strong leadership naturally attracts talented individuals and loyal customers. They explore the idea of duplicating successful leadership practices to create a lasting impact in the industry.

[35:00] - Encouragement for Dealerships Considering Reinsurance Evaluation
Chad encourages dealership leaders to explore reinsurance evaluations, even if they’re happy with their current provider. 

[37:45] - Closing Thoughts and Call to Action
Tim wraps up the episode by reiterating the importance of leadership and innovation in the automotive industry. He encourages listeners to reach out to Chad for a reinsurance evaluation and to consider the benefits of partnering with Elevation Dealer Services.

[40:00] - Outro
Tim thanks Chad for joining the podcast and shares a final thought on the role of leadership in achieving long-term success in the automotive industry.

00;00;00;26 - 00;00;34;13

Speaker 1

In over three decades, I've learned the truly great car dealerships are only great because of one thing leadership. So I'm sitting down with the great men and women. Inspiring Automotive on Tim Talks Automotive Leadership and Beyond. Now welcome everyone to another, yet another edition of Tim Talks Automotive Leadership and beyond. And today's special. today I'm extremely excited because my guest, has become one of my good friends.


00;00;34;15 - 00;01;00;21

Speaker 1

And, maybe some of you guys know this or you don't know this. When we were starting car. Now, gosh, nearly ten years ago, there were several people, that saw that we were doing something different. I saw that we were thinking outside of the box. I communicate with customers and dealerships and and those guys were Corey Moseley and David Kane and Brian Pash.


00;01;00;21 - 00;01;22;21

Speaker 1

And they gave me a platform on CBT news and their podcast and their events. and they reached out to me, which was extremely encouraging. And so with the, the, the art and the, the, the just wanting to give back, I travel the country, guys, I'm on the road almost every single week and I, I'm talking to dealers.


00;01;22;21 - 00;01;47;26

Speaker 1

But at these events I also have the ability to talk to other vendors. And what are you doing? What is new in the space? And I had the privilege to meet Chad Staples several months back, probably five, six months ago. And everything that I have heard, about Chad, about his company, Elevation Dealer Services, has been nothing short of phenomenal, what they're doing.


00;01;47;26 - 00;02;12;18

Speaker 1

So. So this episode, is going to be about leadership some. But at the same time, he's doing a little bit different. animal as far as reinsurance. So and, and what you're doing with your product. So, so with that, I would like to introduce Chad, founder, CEO, president. Well, the other accolade is, Elevation Dealer Services.


00;02;12;18 - 00;02;33;03

Speaker 1

Chad, welcome to the show, brother. thanks for having me, Tim. I appreciate it. Yeah, yeah. So let's look, let's let's talk about let's dive right into it. you know, a lot of people. And look, when I was on the floor selling cars, I didn't I couldn't spell reinsurance, and I didn't understand. All I knew is if I sold a warranty that I got a spear for on Saturday, cash and fest.

00;02;33;10 - 00;02;59;25

Speaker 1

So this episode, we're probably going to market to the the GM. they're the dealers, the people that are in charge of their reinsurance programs. so. So could you give us what makes Elevation different? so I'm a martian. I just landed on Earth. The traditional, possible tradition. Reassure and self-insured, that type of thing. Walk us down that road a little bit.


00;02;59;25 - 00;03;22;17

Speaker 1

But then why? the things and. Guys, I obviously didn't just talk to Chad had the privilege to of, going to the Final Four with one of the largest dealers, and, and, and Arizona with Chad and, and getting this feedback from dealers that it's different. This isn't just Chad saying they're so lean in, as we unpack this a little bit, but, Chad, you've got the floor, brother.


00;03;22;23 - 00;03;50;00

Speaker 1

What makes you guys different? So it all started about 16 years ago when I, when I got into automotive, when I started to learn a little bit about these products and, and when I was fortunate enough to become a regional manager at a large warranty admin, I got to see kind of behind the curtain and learn from an administrator side how they would hide fees and take advantage of dealers and we all know that training is important and income development is the is the key solid foundation of building an apartment.


00;03;50;07 - 00;04;12;05

Speaker 1

And what we've done is we come in and we're just completely transparent with fee structure upfront where there's nothing hidden, where we can talk about that. And when we structure these companies, we structure them based and tailored upon the fact of what the dealer's growth strategy is, what they want to do. And in addition to that, the big game changer is the investment strategy of the overall reinsurance trust account.


00;04;12;07 - 00;04;32;04

Speaker 1

And so when we've been able to do that, we're just seeing significant gains. And quite frankly, we're building trust and we're building value with dealers at a higher level because we're setting these same goals and some of these large box administrative laws. But at the same time, our fee structure is substantially less. So we're saving hundreds, thousands of dollars a year, if not millions.


00;04;32;06 - 00;05;01;07

Speaker 1

So basically what you're saying is they're historically fees and other things, admin fees and others from from the traditional way of doing this is, is is significantly less. So let's talk about, the investment strategy and the ability to, to customize that per se, how aggressive the dealer wants to go with their, with their strategy. And, you know, can you, can you unpack that a little bit for us and maybe the differences?


00;05;01;07 - 00;05;22;13

Speaker 1

I think it would be, you know, because, look, there's a lot of new GM and maybe even new owners, you know, there's a lot of things changing hands these days. that the the hard core difference other than the admin fees is there any is it the same. How are you looking at it different. And and traditionally what are those big box companies doing.


00;05;22;16 - 00;05;41;16

Speaker 1

Well. So great question. So we'll we'll kind of start from the basics. So your, your typical is your administration fee right. That's to adjudicate claims for the administrator to basically handle all the paperwork, file the forms with FICA and on so forth to get them through to the state level and with all the different lenders. additionally, from that, you'll see a typical seeding fee.


00;05;41;16 - 00;05;59;13

Speaker 1

All that is, is basically money moving from one from the administrator to the dealers reinsurance trust account. So they'll charge a fee, some charge a flat, some charge a percentage, and then you see other fees that come into play, whether it's a loss adjustment, expense, a premium tax and so forth. And so a loss adjustment expense is one that you don't have to charge.


00;05;59;13 - 00;06;16;25

Speaker 1

And when large administrators do charges, let's say about 10%, you know, every time you pay $3,000 in a claim, you pay an additional $300 in fees. So when you kind of back all those numbers back into an all and admin fee and you're looking at your average loss cost, as we call it, then we look at the average claims and contracts you have and you dial in an average.


00;06;17;01 - 00;06;55;10

Speaker 1

When you look at that, you'll see how much you're actually expenses per car that you're actually selling contract on and how much of that's going towards losses or fees. And so when you when you consider those things, what we're doing is we're coming in, we're reducing about 50% of those fees cost that, you know. And in addition to that, what we've also negotiated with an administrator on the partnering is you can do up to 50% of the unearned premium in equities, which is huge, because a lot of these large big box administrators, they bootstrap you to, you know, a simple banks fidelity style, investments funds or a money market or a bond.


00;06;55;15 - 00;07;18;15

Speaker 1

And quite frankly, you're getting less than 5% of that yield. When you work with our wealth advisor, we partner with the GGP wealth like side Jake, with now, you know he's getting in the teens on average, if not more. So when you're seeing what we're talking about compound interest in fact and $90 it exponentially grows over time. So they're able to do more with their money.


00;07;18;17 - 00;07;32;05

Speaker 1

And you know, you were we were when we were last in person together. You were talking about a dealership is allowed to set up. There's isn't there a cap on each one of these that you can set up? As it did? I missed that. Is it $2 million a year? What? But, could you take us through, a little bit of that?


00;07;32;05 - 00;07;54;29

Speaker 1

Can you speak so now to speak to that? Yeah. So, so with the with a controlled foreign company. Listen, 831 the election with the IRS, which includes the capital, we write that down. Eight say it again, 31 we know people from Kentucky, from Kentucky. 831 be got it. Okay. Yeah. And, and as of this year, it's a $2.8 million cap that you can cut.


00;07;55;02 - 00;08;18;27

Speaker 1

And so what's great was it is based on and there could be a multi stock class allocation. So let's say you and I own the dealership together. You could do 51% I want 49. However you want to structure you can do such. And there's no limitation to how many in these you are. There's just a there's just restrictions and rules based on like if you own 100% of one, you can't be more of a majority of another or any subsequent there.


00;08;18;29 - 00;08;38;06

Speaker 1

So and there's no limitation on how many of these you can have and all that. 831 be is, is all of the underwriting profits, the reserves and the warranties are in an investment account are nontaxable until they're earned and you take some sort of dividend or a K-1 distribution from the last quarter. And a lot of people are, and you can even borrow against it, right?

00;08;38;10 - 00;08;55;13

Speaker 1

I mean, I know, I know that you could there's a lot of dealers out there that are obviously borrowing against these, these, these moneys to buy other stores or a lake house or whatever you want. So I think it's extremely you know, Chad, I know you're on the board. So Chad guys's is not somebody I just met off the street.


00;08;55;13 - 00;09;14;24

Speaker 1

He's on the board of the Arizona Independent Automotive Dealers Association. his company has grown. Let's talk about the the you know, you keep hiring people. You did. Let's talk about your growth. you know, and I think just I mean, you've only been doing this and I don't think this is a detriment because of your, your your heavy background.


00;09;14;24 - 00;09;43;01

Speaker 1

You built entire finance platforms for the existing dealer group that you were formerly with there in Scottsdale, Phoenix area. but but but avalanche, avalanche. Wow. I can't even speak. You've only been around, what, a couple of years now, right? A year and a half. Yeah. So I was February 13th of 23 was when we when we started the organization, which is incredible.


00;09;43;01 - 00;10;08;18

Speaker 1

And how many dealers are you on right now? So we've got about 268 right now. We're we're at an somewhere between, you know, 8 to 14 a week depending on the week. And we're just continually growing constantly. I'm flying to San Louis today, to, you know, a new individual. Ryan Young is starting with us. so we're going to spend some time out there is marketing and, you know, he specializes in powersports and he's he's very, very adept in the fire department.


00;10;08;18 - 00;10;34;29

Speaker 1

And he's excited to join the team. We started talking about six months ago. So we're we're pretty excited to have him up word and kick off that market. You know I think it's incredible. And I think that, you know it's it's different than somebody signing up for, you know, whether it's a software product or something else. I mean these are dealers within a year and a half, well over 200 dealers that are entrusting their, finances, which is a big part.

00;10;34;29 - 00;10;53;01

Speaker 1

A lot of dealers, depending on the market, you know, their retirement, their, their financial future for their family. And they're giving that, to Elevation, which is a which I couldn't say a couple a couple minutes ago. So I don't really know what happened there. we were supposed to shoot the little commercial. We were supposed to shoot this podcast a couple days ago, but, I was,


00;10;53;04 - 00;11;11;13

Speaker 1

I'm still a little loopy, ladies and gentlemen. So I apologize for that. So, in all seriousness, it's just incredible to watch you, you grow. And, if you need any other information, because we're going to we're going to switch topics here in just a second. We're going to provide a link below, to if you have any questions.


00;11;11;16 - 00;11;27;07

Speaker 1

if you want to contact Chad or his team, haven't you let's, let's stay here for just a little bit. Your you've been hiring. I mean, how many people are on your team now? You've been. Seems like you're hiring somebody almost every other month. Yeah. So we have ten, ten folks in sales that are producing for us.


00;11;27;07 - 00;11;50;16

Speaker 1

And then we have, a claims director, and then I have an executive assistant as well. So, yeah, in Grand Rapids. Yeah. That's awesome. And let's talk about let's, let's shift gears a little bit. let's talk about leadership and let's talk about, you know, I think part of the reason that you're seeing the success, that I witnessed first hand, is the way you talk to your people, the way you care about your people.


00;11;50;16 - 00;12;12;10

Speaker 1

I hear you talking about your people away from your people. So, you know, again, at the end of the day, what what really inspired, this segment of our podcast, Tim Talks is, is leadership. And that is leadership, whether it's in the dealership, that is leadership, whether it's at an outside software company. But let's, let's, let's talk about that a little bit.


00;12;12;10 - 00;12;40;10

Speaker 1

You've got a little different aspect. Not completely, but let's just talk about your values and how you want to build your company. And and I would argue part of the reason that, that you're seeing the growth that you're seeing all. Absolutely. And so, you know, when I reflect back on my career, before I was in leadership, I always dealt with friction, and I dealt with either, you know, toxic leaders that were self-preservation allies.


00;12;40;13 - 00;12;57;22

Speaker 1

And as a, as a strong believer in my it, you know, I've always embodied this servant hood in heart. And so I've always I would always go above and beyond to help colleagues or to train people up and to help them get better. Right. And that's just because I cared. I was always competitive, but I wanted to see the rising tide raise all boats.


00;12;57;25 - 00;13;16;10

Speaker 1

So, I always swore to be the leader I wish I had, you know, rather than someone taking advantage of me. Some years ago, he would even had me on sales calls. I would close the deal and he'd take credit. I wouldn't get paid on time or what be. And so it got to a point to where once I was in a leadership position, you know, a large warranty administrator and I ran a team.


00;13;16;10 - 00;13;39;29

Speaker 1

And, you know, we we created our own micro culture within the organization where we were intentional about, you know, being with each other, having these deep conversations, making sure we showed love to one another. some of the questions that that I ask everybody when we're in the initial phases of getting to know them, was, tell me what one of the toughest points in your life was and how that defines who you are today.


00;13;40;01 - 00;14;02;19

Speaker 1

You know, when you when you are able to connect with people on a high level and understand who they are and why they do what they do and what drives every day, and then you're able to love them, in different ways. That helps motivate them and show them that you have their back. You know, something that Tim Morrison or excels sales had said a long time ago that he learns from meals he told his wife years ago.


00;14;02;19 - 00;14;20;04

Speaker 1

He's like, I would run through walls or Chad, you know, we're gone through Covid. And they were trying to cut our pay a whole teams. We had ten people on my sales team and I was like, this isn't right. We're doing 160% to our budget. Like, why? Like, why are we slashing people's pay, you know? And so because of that, you know, even to this day, he's our sales.


00;14;20;06 - 00;14;46;15

Speaker 1

It is like that with our entire sales team. It's pretty incredible to see, you know, that's, and we've said it in here before, you know, I'm it's. No, it's no secret that I'm a huge fan. And and every day probably quote Maxwell 2 or 3 times, but, you know, now as leaders, we're not in charge of not creating followers where we're supposed to create other leaders.


00;14;46;18 - 00;15;12;25

Speaker 1

So I think that, you know, I was on a call before I jumped on this podcast. I mean, there was a situation to where, probably the hardest call I've ever had to take from a dealer to where we absolutely dropped the ball. I mean, I'm publicly saying that historically, I always say that every time I'm out in the space, I always hear, people, whether it's other vendors or influencers or dealer groups, it's usually comes from dealer groups, where in the world you hear people.


00;15;12;27 - 00;15;30;13

Speaker 1

But this was at that time. This was like, hey, I asked for this, and this didn't happen. I have so we just I just came off for those calls. But I also believe that it's not how things happen in life and bad things happen, especially in business, but it's how you recover from it. And I would also encourage, you know, especially, you know, you mentioned faith.

00;15;30;13 - 00;16;02;02

Speaker 1

I think that especially when you do do that people there's that there's a big microscope even it's like ten acts and like our world is waiting for you just to drop the ball and say, I got you, or I ha, you know, you're just like everybody else. And it's, it's very difficult. But understanding that, you know, I mean, people dropped the ball regardless of your faith or I mean, people dropped the ball, but it's how you respond, after that, how you pick yourself up and say, even as a founder of a company like we both are to say, you know what?


00;16;02;03 - 00;16;30;24

Speaker 1

I handled that situation wrong. I should have delivered that differently. And those types of things, you fighting for your you're now a VP of sales when you're in another company. I would argue that's why he followed you to this company that you just started because of, what you did for him previously. So, that's encouraging. Maybe as we, you know, give people a little bit more insight into your business and you as a person, maybe.


00;16;30;26 - 00;16;56;25

Speaker 1

Is there any bit. And we didn't rehearse this, but is there been anything as of late that's really you're excited about that? You see whether it's a situation with one of your people or with one of your dealers that, that, that you would want to share with, with the listeners. yeah. And, to cap off your previous point, you know, there's a there's a quote that I've always really enjoyed that's a leader ceiling is determined by his pain tolerance or their intolerance.


00;16;56;27 - 00;17;24;27

Speaker 1

and, you know, even just since I've known you to know the things that you've dealt with and overcome and your attitude and how you influence people on positively impact people is pretty incredible. So I just wanted to put that out there. Well, thanks. Thanks for that. Absolutely. But in terms of what's exciting, you know, just just the opportunity in front of our team and, you know, we're developing some, some different claims tools that with, with AI that we're working on in the background.


00;17;24;27 - 00;17;47;06

Speaker 1

And, we have a white label program that's completely our own, our on service contract for high mileage programs. And I'm an investor in a large group, too. It's pretty exciting. So we've got a few verticals there. But in addition to that, it's it's really all about our people. You know, one of the one of the best things that happened recently was I got a call from one of our dealers who is a very close friend of mine.


00;17;47;09 - 00;18;05;14

Speaker 1

And, you know, I always take those calls, right? And they call it's to me doesn't usually call our people. And and it takes time to get those clients trained to call your folks because they're the ones supporting us. And, you know, Sean McNish, who works for us. He was a general manager at all. And a Cadillac store out of Omaha, Nebraska.


00;18;05;14 - 00;18;21;18

Speaker 1

And then he moved to Arizona, worked for Ally Financial on the product side throughout four years. He started with us at the end of last year, and Sean's already adept in the space, understands the program. Right. And he's been working with us since. And, just to hear the affirmation. And I know how hard Sean works. I know his value.


00;18;21;18 - 00;18;39;22

Speaker 1

But to hear it that the dealer sees it maybe ourselves. I got to tell you, he's incredible. I mean, to me, I get emotional about that stuff because I know I pour into these folks day in and day out, support them, take care of them, make sure that they have what they need financially, that they have the support and the time off that they need to be there for family and so forth.


00;18;39;22 - 00;19;06;07

Speaker 1

And so when I hear that, I'm like, it just affirms that I have great people involved, you know? And that's some of the stuff that I'm most excited about. Yeah, that's that's extremely encouraging, especially when you have, I think something that's unique with, with, with our company and your company, when you've got X games and you've got X, we've got X dealer principles and you've got X, people that have had big time jobs that, that want to join what you're doing.


00;19;06;07 - 00;19;35;16

Speaker 1

And I've said it over and over again, it's the again to Corp Maxwell again. it's the law of attraction. There's something happening with this Chad guy. There's something happen with Elevation. There's something happening with car. Now. There's something happening there. Right. And then that's the law of not only attraction, but the law of duplication. Then you duplicate that process over and over again, and then hopefully you duplicate that process to where people that are watching you are seeing when you drop the ball on hopefully the seldom occasion that the ball's dropped.


00;19;35;16 - 00;20;01;14

Speaker 1

How do you overcome, fumbling of the ball? listen, Chad, it is been great. just unpacking that we are going to, provide links below that you can click on that. You can get more information about, Chad and what he's doing different in the space and the fact that he's growing, as quickly as he's growing.

00;20;01;14 - 00;20;26;13

Speaker 1

You may want to pay attention. Maybe you are using. And again, I've got friends all over the space that are part of those, bigger companies. But if you're using someone like that and you're just interested, I would encourage you to click the link. have a conversation with Chad. And this is what I know because I've been with dealers, that Chad was with, that we happen to be physically in front of that didn't have his business.


00;20;26;13 - 00;20;47;20

Speaker 1

And he said, look, I'll do a valuation, for free and see if there's. And it's not anything negative. It's not anything he'll say I'll exact see where the fees are. I'll see where you may or may not be losing money or the possibility of make money. And I'll give you an assessment. And, Chad, I would argue that I would assume you continue to do that for everybody, not just the person that we happen to go the game with.


00;20;47;20 - 00;21;09;02

Speaker 1

Right? So, you know, the fact that you are here, let's do an assessment. Isn't it worth, ladies and gentlemen, lean in a little bit. Isn't it worth just saying. And, the best part about life and the best part about, doing business with people that you like and you like and that you can trust in that has your best interest in mind.

00;21;09;04 - 00;21;27;06

Speaker 1

Chad, is there anything that you want as we land the plane? As I like to say, is there anything that you want to leave with with the listeners? And again, this is mainly, it's all leadership talk, but it's also a, you know, if you want more information, a GM owner. There's something here, guys, I'm telling you, there's something here you might want to lean in.


00;21;27;06 - 00;21;51;26

Speaker 1

I've got a lot of friends of mine that own stores. I'm going to send them this link. what do you want to tell those those people that might be sniffing around about making making a change or, you know, why why they they should at least give you a shout out by all. Couple of things. when we do these evaluations, number one is if you stay with the current writer and we get you a better deal than we did our job right.

00;21;51;29 - 00;22;13;12

Speaker 1

the second thing is to is whenever anybody looks at these type of evaluations, it's, it's a pain in the neck. And it's a process. And we understand respect that. We're not expecting someone to just switch immediately. But what we are looking to do is expose some transparency. in a time right now which, you know, the stock market's down pretty significantly.


00;22;13;12 - 00;22;47;02

Speaker 1

And we see that margin compression has been an issue. We see that affordability is a challenge. And it's never been more important with all of these factors to pick up every dollar. You can't. And when you can expose these fees and realize the negative impact it has on your compound interest, in fact, and your insurance company having a secondary, higher mileage series contract protection program that allows you to expand your inventory because that customer base that cannot afford that brand new car today, five years from now, should be able to and you want to be able to retain and capture those customers.


00;22;47;02 - 00;23;09;07

Speaker 1

So we have a myriad of different programs that provide value. And why buy here's to where that'll be a differentiator for your dealership. And so, I just want to say I'm grateful for all the time and your friendship and, and, being honest with each of that. so thank you, Chad. And again, like I said, I want to give back, my buddy Cory Mosley, David Kane, Brian Patch, you guys all gave me a shot.


00;23;09;07 - 00;23;27;17

Speaker 1

Wave all of you in 2015. And, because we were doing things different and and Chad's doing things different, I wanted to give back. call my friend Chad. just to say, just for an evaluation. Just to see where you're at. ladies and gentlemen, thank you so much, for taking a few minutes of your time today.


00;23;27;19 - 00;23;54;05

Speaker 1

for our new series, Auto Leadership and beyond. Because at the end of the day, it is about leadership. the speed of the captain, the speed of the boat. And that has never been more real, with everything going on and in this space, election year, all the drama, everything that's going on to stay focused and not waver in where we're going.


00;23;54;05 - 00;24;22;28

Speaker 1

Smart guy once said, your direction always terminus your destiny. And so let's continue to make sure that we are headed in the right direction, that we don't get sideways, and that we want to continue to keep the main thing, the main thing. Ladies and gentlemen, it's been Tim Cox. Thank you for joining. Tim Talks. As we always say, we don't claim to be the smartest person in the room, but as we always say, no one is smarter than everyone.


00;24;23;00 - 00;24;30;04

Speaker 1

We will just keep trying to get better together. Thank y'all. We'll see you soon.

00;24;30;07 - 00;24;36;04

Unknown

and I.

00;24;36;06 - 00;24;37;19

Speaker 1

Give you.