2 months ago
Hit the events and shows of Monterey Car Week, and what's apparent is that money is no object: seven-figure hypercars changing hands, classic car auctions leaping to new records, and waiting lists stretching years.
But talk to the executives who actually sell these cars, and a more nuanced picture emerges. Higher-end buyers are supporting the market, but there is also a split. They say there is a K-shaped economy even at the very top of the market, and only one arm of the K is going up.
McKeel Hagerty, CEO of the collector-car insurer Hagerty (HGTY), sees it now. When asked whether a K-shaped economy exists in the collector-car world, he didn't hesitate.
"Like the two upper levels of a K," he said. "When people are paying a lot of money for cars, it's because there was a big liquidity event."
Company sales, IPOs, and an overheated stock market add to liquidity at the highest end, but set against a backdrop of tariffs, high rates, and global conflict that "freaks people out."
#hagerty
But talk to the executives who actually sell these cars, and a more nuanced picture emerges. Higher-end buyers are supporting the market, but there is also a split. They say there is a K-shaped economy even at the very top of the market, and only one arm of the K is going up.
McKeel Hagerty, CEO of the collector-car insurer Hagerty (HGTY), sees it now. When asked whether a K-shaped economy exists in the collector-car world, he didn't hesitate.
"Like the two upper levels of a K," he said. "When people are paying a lot of money for cars, it's because there was a big liquidity event."
Company sales, IPOs, and an overheated stock market add to liquidity at the highest end, but set against a backdrop of tariffs, high rates, and global conflict that "freaks people out."
#hagerty
3 months ago
Florida Atlantic introduced its new vice president, director of athletics on Friday - and he made it clear it's not going to be a one-man operation.
Josh McCowan held a press conference at the Owls Nest in the Schmidt Family Complex for Academic and Athletic Excellence, one week after being hired to replace Brian White, who resigned last month to become the athletic director at Virginia Tech.
Friday's ceremony also included remarks from FAU President Adam Hasner and Chair of the Board of Trustees Piero Bussani, who served on the committee that chose McCowan after a national search. The committee also included university benefactor Michael Hagerty, football coach Zach Kittley, softball coach Jordan Clark and men's and women's basketball coaches John Jakus and LeAnn Freeland.
"Josh has the right experience, the right values and the right vision for the athletics department and for the university," Hasner said. "And the energy that he brings to this job is aligned with the trajectory of Florida Atlantic University.
"Josh is the right leader at the right time."
#right #josh #Athletic
Josh McCowan held a press conference at the Owls Nest in the Schmidt Family Complex for Academic and Athletic Excellence, one week after being hired to replace Brian White, who resigned last month to become the athletic director at Virginia Tech.
Friday's ceremony also included remarks from FAU President Adam Hasner and Chair of the Board of Trustees Piero Bussani, who served on the committee that chose McCowan after a national search. The committee also included university benefactor Michael Hagerty, football coach Zach Kittley, softball coach Jordan Clark and men's and women's basketball coaches John Jakus and LeAnn Freeland.
"Josh has the right experience, the right values and the right vision for the athletics department and for the university," Hasner said. "And the energy that he brings to this job is aligned with the trajectory of Florida Atlantic University.
"Josh is the right leader at the right time."
#right #josh #Athletic
