Skip to main content
EVENT TRACKER
Keep track of rescheduled, canceled industry events with our COVID-affected event tracker - Powered by Snap Finance
Close
Sister Publication Links
  • Rubber & Plastics News
  • European Rubber Journal
tb-logo
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • OPINION
    • CORONAVIRUS
    • AUTO INDUSTRY
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • FACTORY FIXES
    • GOVERNMENT & LAW
    • INTERNATIONAL
    • MOTOR SPORTS
    • NEW PRODUCTS
    • RETAIL TIRES
    • SERVICE ZONE
    • SEMA/AAPEX
    • SMALL BUSINESS
    • TIRE MAKERS
    • SPONSORED CONTENT
    • Tire Cologne canceled; rescheduled until 2022
      New round of Paycheck Protection Program funding opens
      Vaccine may usher sense of normalcy
      Cover-up: More retailers requiring face masks to curb COVID
    • Icahn Auto trims fiscal 2020 operating loss despite 14% lower sales
      Oshkosh unit gets contract for new USPS local delivery vehicle
      Sumitomo adds treadwear-detection to 'Sensor Core' toolkit
      New Porsche 911 GT3 to feature Michelin fitment
    • Michelin, BFG, Uniroyal car/LT tire prices going up 8% on April 1
      Rebound in car tire demand drives USTMA market forecast for 2021
      Bridgestone celebrating 90 years as a business in 2021
      Icahn Auto trims fiscal 2020 operating loss despite 14% lower sales
    • TravelCenters plans 6 TA Express sites in California in 2021
      Carlisle TyrFil broadens recycling technology options
      U.K. retreader Vaculug to promote tread rubber supplier Vipal
      TMC moves spring conference online, sets trade show for September
    • USTMA joins coalition supporting passage of Equality Act
      McMahon's Best-One increases its minimum wage to $15
      Oshkosh unit gets contract for new USPS local delivery vehicle
      Conti recalling 94,000 Conti-, General-, Barum-brand LT/SUV tires
    • Rebound in car tire demand drives USTMA market forecast for 2021
      Michelin driving for '100% sustainable' tires by 2050
      Bridgestone celebrating 90 years as a business in 2021
      Yokohama sets ambitious goals through 2023
    • Bridgestone World Solar Challenge canceled due to pandemic restrictions
      Pirelli, Goodyear ink sedan racing series contracts in Canada, Europe
      Goodyear extends partnership with Nürburgring race circuit
      BFG to support ATV/UTV racers in WORCS series
    • Michelin launching ‘eco-responsible' performance tire for sporty EVs
      Martins Industries launches products in 3 categories
      Carlisle TyrFil broadens recycling technology options
      New McLaren supercar incorporates Pirelli's Cyber Tyre system
    • Our View: Goodyear, Cooper deal historic moment in tire history
      McMahon's Best-One increases its minimum wage to $15
      Tire Kingdom treats front-line workers at Palm Beach Gardens hospitals
      Icahn Auto trims fiscal 2020 operating loss despite 14% lower sales
    • Washington dealership uses new-school solution for recruiting auto techs
      Marinucci: Customers may ignore dangerous conditions
      Automotive Lift Institute introduces Check360 inspection, label
      Martins Industries launches products in 3 categories
    • SEMA scholarships and loan forgiveness now available
      WTC hosting webinar Jan. 20 on load-capacity standards
      Denver's Brian Sump named AAPEX Shop Owner of the Year
      DUB, TIS Wheels founder Myles Kovacs is SEMA Person of the Year
    • Trade groups oppose minimum wage increase proposal
      New stimulus package fixes PPP loan confusion
      Vaccine may usher sense of normalcy
      2020 Review: PPP loans give boost to small businesses
    • Rebound in car tire demand drives USTMA market forecast for 2021
      Michelin launching ‘eco-responsible' performance tire for sporty EVs
      Goodyear, Cooper deal creates tire production synergies
      Goodyear promotes Helsel to senior VP, global operations role
    • Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
      Sponsored By Yokohama Tire Company
      Stocking Tires for Crossover SUVs
      Sponsored By AppointmentPlus
      Three Important Lessons Learned for the Tire Business During a Pandemic
      Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
  • SHOP FLOOR
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Video: Balancing Tire
      Safety tips for wheel balancing
      An introduction to wheel balancing
      Wheel weights: Balancing form with function
    • Video: Demounting
      Tire changer types, tips and trends
      How to clear rim rust and corrosion
      An introduction to demounting, mounting and inflation
    • Video: Safety
      Customers
      Considerations for shop safety policies
      Introduction: Creating a culture of safety
    • Video: Tire Repair
      Essential tools, materials and equipment for tire repair
      An introduction to tire repair
      How to properly patch a puncture
    • Video: TMPS Service
      The life-saving work of TPMS
      An introduction to TPMS service
      The importance of proper relearn procedures
    • Video: Training
      Internship ideas to attract tech talent
      Choosing the right auto service tech school
      Intro: Finding and training technicians
    • Video:Vehicle Lifting
      The gravity of proper lift points
      Safety essentials when using jack stands
      An introduction to lifts and lift safety
    • Video: Wheel Torque
      The importance of torque specifications
      Introduction to proper wheel installation
      Torque check and recheck recommendations
  • Multimedia
    • VIDEOS
    • PHOTOS
    • PODCASTS
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
  • Data
    • DATA STORE
  • Resources
    • DIRECTORY
    • CLASSIFIEDS
  • ADVERTISE
  • DIGITAL EDITION
  • Awards
    • Tire Dealer Humanitarian Award
MENU
Breadcrumb
  1. Home
  2. News
August 05, 2002 02:00 AM

Morgan to focus on TIA, industry image

  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    CLEARWATER, Fla. (Aug. 5, 2002) — No woulda's, shoulda's or Brando-esque mumblings that he “coulda been a contenda.”

    Contended, definitely. Contented? Hardly.

    Young. Much too young to be called an elder statesman of the tire industry. But at 58, Larry Morgan has seen the tire business from the pinnacle. Over the years he's run two of the country's largest independent dealerships.

    Now that he has decided to bow out of the day-to-day operations of his Morgan Tire & Auto (MTA) Inc., what next? Not likely he'll make like an NFL quarterback and head for Disney World, despite its relative proximity to his company's headquarters.

    Instead, Mr. Morgan said he's planning to “give something back” to the industry he entered right out of college.

    His rÃ&Copy;sumÃ&Copy; reads like a how-to up the corporate ladder.

    Landed a job with Firestone Tire & Rubber Co. and stayed there for seven years, working with his mentor Don Olson, who left Firestone in 1972 to launch the dealership Mr. Morgan would years later purchase.

    Meanwhile, Mr. Morgan headed for Manassas, Va., to lead Merchant's Inc., growing it from eight outlets into a strong regional chain with more than 100 stores.

    After 19 years with that firm, he left to buy Olson Tire from his friend.

    Over the course of 10 years, he built his Morgan Tire, acquisition by acquisition, into a national powerhouse with 549 stores in 25 states and more than 6,000 employees. When Bridgestone/Firestone (BFS) purchased majority control—that is, 58 percent—of the dealership last summer, Mr. Morgan remained at the helm, rather than simply as a figurehead or absentee owner.

    But after some ongoing soul searching, the man who still describes himself as an entrepreneur has decided it's time for a change of pace.

    On July 8, BFS announced Mr. Morgan was relinquishing his positions as CEO and chairman of the dealership, but will remain on its board as chairman emeritus. His replacement is a 32-year BFS veteran, Stu Watterson, who becomes Morgan Tire's president and CEO and will oversee day-to-day operations.

    Franchise focus

    He may be out of the day-to-day grind, but Mr. Morgan—with a 42-percent stake in it—doesn't hesitate to still call Morgan Tire “our company.”

    “I'm going to stay involved with our franchise group,” he told Tire Business.

    He plans to be “a sounding board and participate in all the meetings and help with major decisions. That's a real important part of the future of our company. We have to make sure there's continuity there and no breakdown in communications at any level.”

    MTA's Tires Plus franchise program is beginning to grow again after a period of dormancy.

    “There was a time we didn't sell franchises simply because we didn't disclose BFS's majority interest in the company, so consequently we couldn't legally go out and solicit and sell,” he explained. “But we've fired that operation back up again and have got a huge amount of interest and prospects. Our franchise review committee has been real busy.”

    The program currently has about 75 franchisees with an additional 25 either recently committed or in the process of signing on.

    Strategic goals

    But what's apparently nearer and dearer to his heart is getting enmeshed in “strategic issues” facing the newly named Tire Industry Association (TIA), which took wing July 1 following the merger of the International Tire & Rubber Association and the Tire Association of North America.

    “If I have to accomplish one thing—and I know can't do it overnight—I want the satisfaction of knowing I can make a contribution to the industry,” he said.

    “As I've been looking around other businesses, I'm appalled at what a terrible return all of us associated with the tire industry get for the products and services we deliver. If I can, I'll try to bring that to the attention of all the participants in our industry—tire makers, wholesalers, retailers, discount clubs, mass merchandisers, support suppliers—anybody and everybody.”

    He said he's not interested in “material gain,” but rather to “start to tell the consumer” about “how proud we are of what we do.”

    It's a lofty goal, he admitted. But if he can find a way “to sell our products for what they're worth so we can make a better return…I will have accomplished a lot. That's what I'm really going to try to do.”

    Currently chairman of TIA's strategic planning committee, Mr. Morgan is in line to assume the association's presidency in November 2003.

    “I think we can really produce value for our membership. Frankly, we want to get to the point where people will kill to be members of TIA,” he said. “And I believe we will accomplish that.”

    Returning the favor

    With a 37-plus-year history as a tire guy, Mr. Morgan said he now wants to “try to return the favor to the industry that did great things for me.”

    Still, boosting margins always has been and will continue to be a daunting task.

    “Every year we sell hundreds of millions of tires in this country,” he said. The industry needs to get every sales person to “just allocate a minute and a half of their communication time to convince the customer they're buying a very highly technological, quality product, that the safety of their family relies on it, and they're getting it at a tremendous value.

    “We have to get everyone talking positive about the product, and we must make customers feel good about their purchase.”

    Perhaps his philosophy has rubbed off on MTA's sales staff. Mr. Morgan said his margins on tires have improved every year “for a long, long, long time.” However, he can still recall “when my whole marketing strategy was to look at my nearest competitor in the marketplace, and my goal was to be a few pennies less on every product line.”

    Future plans

    BFS takes over 100-percent ownership of MTA in 2008. Mr. Morgan sees himself remaining with the dealership at least until then. “I'm not using the 'retirement' word,” he said. “That's definitely not what I'm doing now.” He's also current board chairman of the Tire Alliance Groupe (TAG), the dealership buying entity of which Morgan Tire is the biggest member.

    Despite the buyout by the tire maker, he still considers himself an “independent” tire dealer—“absolutely,” he said without hesitation. And, he added, BFS “has no intention of combining our stores with theirs or meshing our management teams together. They want us to retain separate operations and be a totally different brand and concept.”

    That doesn't mean his life is just all tires all the time.

    “I've always had a lot of interests outside the tire business,” he said. Over the years he has helped form a bank, owned several golf courses, and during an interview in 1997 with Tire Business ackowledged that he could probably make a good living in commercial real estate.

    But his focus has begun to shift to his children, twins Lauren and Brett. His son is finishing up college and working part-time as a radio producer for Clear Channel Communications. Mr. Morgan would like to help him get started in some business venture, yet unknown.

    “One of my decisions in selling my business was so (Brett) could do what he wanted to do—not what dad wanted him to do. Not that he wouldn't want it, but it's such a huge business and it's unfair to try to push him into it. He has to be his own man.”

    Initially, he admitted, there was some concern on the part of MTA employees about the acquisition by Nashville, Tenn.-based BFS. But the tire maker “made it so perfectly clear to my people that they weren't going to reduce their pay, change benefits…. They've lived up to every commitment they've made.”

    “I know my people are very happy and…are seeing positives out of the relationship.”

    And economically, he noted, “I couldn't have been treated better. There are certainly no regrets there.”

    Accomplishments

    Taking into account the growth MTA has sustained in the last decade, Mr. Morgan believes he has accomplished what he set out to do, though “I had…my sights on a few more acquisitions. But, frankly, the (Firestone tire) recall slowed down our growth once BFS got majority interest. And their desire to grow has been temporarily tabled.

    “But that's always been my strong suit. I did it at Merchants and Morgan Tire. Am I proud of what we accomplished? Absolutely. I'm probably more proud I've got a whole team that can keep it going, because in addition to growing the business, I think I grew an awful lot of highly talented, motivated, capable people. That's what enabled us to grow, and they've taught that philosophy to others.”

    As a leader, he said he's always tried to be “real compassionate” with his employees and will definitely miss the day-to-day interaction with them.

    As for watching someone else run the business he's built—that's got to be tough, right?

    “Uh…” A big pause. “We'll see,” he said, laughing. “I've known Stu Watterson for a long, long time,” and that now makes the transition somewhat easier.

    Before hanging up the phone, he couldn't resist getting back to his self-described mission as a kind of industry ambassador/potential front man. “I think I may be the logical person to spread the news because there's nothing in it for me anymore to say what's on my mind.

    “I can look at the situation from an independent perspective and say, 'Hey folks, come on, there's a better way out there. You deserve it.'

    Despite his enthusiasm about seeing to it that his industry gets more respect—and, of course, better margins—he knows “one person alone can't do it. Everybody's got to participate if it's ever going to happen.

    “I know it's a big challenge, but if we don't try, we'll never get it done.”

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    tb-logo
    Reader Services
    • Contact Us
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber & Plastics News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
      • OPINION
      • CORONAVIRUS
      • AUTO INDUSTRY
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • FACTORY FIXES
      • GOVERNMENT & LAW
      • INTERNATIONAL
      • MOTOR SPORTS
      • NEW PRODUCTS
      • RETAIL TIRES
      • SERVICE ZONE
      • SEMA/AAPEX
      • SMALL BUSINESS
      • TIRE MAKERS
      • SPONSORED CONTENT
    • SHOP FLOOR
      • BALANCING
      • DEMOUNTING
      • SAFETY
      • TIRE REPAIR
      • TPMS
      • TRAINING
      • VEHICLE LIFTING
      • WHEEL TORQUE
    • Multimedia
      • VIDEOS
      • PHOTOS
      • PODCASTS
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
    • Data
      • DATA STORE
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
    • ADVERTISE
    • DIGITAL EDITION
    • Awards
      • Tire Dealer Humanitarian Award