Press Release March 9, 2010
STUART ANGERT
Circle of Excellence Award Presentation
“The real act of discovery consists not in finding new lands, but seeing with new eyes.”
Just about 20 years ago, a good friend came to visit me at my office when I was working at Mazda Motors.
I had been hired to structure and manage Mazda’s Remarketing Department for program car, which was a new undertaking at Mazda back then.
Mazda didn’t have a captive finance company at that time. They used Marine Midland Automotive Financial Services, a division of Marine Midland Bank, so all of the Mazda off-lease and repo Remarketing was done by them.
The friend who came to visit me that day was Stuart Angert. He was Vice President of Remarketing at Marine Midland Automotive Finance Company. For any of you who may not recall, Marine Midland was the power player of their time in the auto financing end of the business.
Their private label captive finance relationships were with:
Mazda, Porsche, Subaru, Saab, Jaguar, Budget (risk cars) and Avis (risk cars).
They had $7 billion in auto leases and loans on the books and were the fourth largest captive finance company after GMAC, Ford and Chrysler.
Stuart was bringing both bad news……….and good news that day.
The bad news was that Marine Midland had completed closing out their Remarketing portfolio and his work there had ended.
The good news, if you think back to the opening quote, is that he wasn’t looking for new lands…….but he was seeing with new eyes.
Stuart had recently founded Remarketing Services of America, and as history tells us, it opened a new chapter in our Industry. RSA was the first Remarketing company of its kind and along with it, a whole new concept on the Remarketing stage.
But back to his visit…………as Stuart and his team sold the portfolio down at Marine Midland, he gathered with some colleagues and said he just knew that there was a business based on service that could be built from their collective expertise, dedication to our Industry and a commitment to the customers who were yet to be determined.
On that day in 1991, RSA had not yet sold its first vehicle. They had no clients. They had no stimulus, or TARP money, or government handouts to sustain them. They had no industry recognition.
They did have a new set of eyes…….a solid conviction to succeed……..and a blank sheet to do with whatever they wanted……….and competent leadership.
Stuart was in my office as part of a networking tour to fine users for his new service.
What followed is a beautiful American success story, and no one can tell it like Stuart will shortly.
The end result has had a major impact on the Remarketing Industry in terms of the method of vehicles remarketed, vehicle quantity, operational quality, numbers of sellers and the competitive energy within the Industry.
RSA has Remarketed for numerous manufacturers, major banks with large vehicle portfolios, and 50 different Credit Unions.
From the time Stuart came in looking to Remarket RSA’s first vehicle, they have Remarketed……2,060,000 vehicles! The company was sold to Daimler Benz along the way and Stuart will provide you with those details shortly.
Stuart Angert’s life away from RSA is no less impressive.
He received an MBA from the prestigious Wharton School of Business……..and then went on to study at both Harvard Business School and Harvard Law School.
Stuart’s past Community Service accomplishments include: Serving as either a Board Director…….Vice President……..or President…….of a dozen different organizations including;
• The Boys & Girls Club
• Advisory and Alumni Boards of Universities
• Workforce Developments Boards and Investments Boards
• A Private Industry Council
• Corporate Advisory Boards
• The Everywoman Opportunity Center
• He also Served on the Board of this International Automotive Remarketing Alliance in its early developmental years.
Currently, Stuart is found giving back to society by holding leadership positions that benefit vast numbers of people.
Today, he is on the Board of Trustees….Advisory Boards…..and Boards of Directors………of eighteen various organizations which include:
• Colleges
• Banks
• Center for Entrepreneurship
• Adirondack Park Institute
• He the Commissioner for the Saratoga Capitol District New York Office of Parks
for Recreation and Historic Preservation.
• Infotech Niagra
• Independent Health
• Hauptman-Woodward Medical Research Institue
Stuart is very involved with academia. He taught at the University of Buffalo. He coaches and mentors college business students and provides guidance and direction as their needs require.
One of Stuart’s passions is medical healing, so he’s also very active in Health Care and Health Research…….in the areas of developing new drugs that are more effective in treating illness and disease.
After learning a little bit about what Stuart has done to give back……..it comes as no surprise that he has been duly recognized.
• Stuart was a finalist for Entrepreneur of the Year by Ernst & Young
• A finalist for the International Excellence Award given by Microsoft Corporation
• Received the Alpha Award for Entrepreneur of the year
• Received the Alpha Award for Business of the Year
• Receive a Commitment to Excellence Award
• Receive an Excellence Award
• Received the Pathfinders Award
• Received the Beta Award for Cyber Culture from InfoTech Niagara
• Received an Executive of the Year Award
• And was awarded “Leadership Buffalo”……a community services value award.
Like all those who have demonstrated ‘excellence,’ in their lives, Stuart Angert has given much back. The lives of many others are now better because of him.
And now, it comes time to add, to Stuart’s list of prestigious awards.
We hope that this award will be just a little bit extra special to Stuart, because it truly is to the IARA.
All of our Circle of Excellence award recipients have been well-deserving.
All of them have made a difference……..and have given back.
All of them have had lasting…… positive effects on the automotive industry…….. Remarketing………. and the marketplace…….either directly or indirectly………..
However, the one single factor that separates Stuart from all the others……not taking anything away from the others in the least…….is that Stuart is one of us!
We’re a Remarketing Organization……… and he is a Remarketer.
Stuart is one of our own!
And that’s what excited the Board so much when his name was called to receive the Circle of Excellence Award.
Ladies and Gentlemen……..please welcome Stuart Angert!!!
