Does it take general corporate and business experience to run PCGS, or does it take knowledge of the
Longacre
Posts: 16,717 ✭✭✭
I saw in another thread that Don Willis has been anointed by David Hall to become the next president of PCGS. Personally, I don’t know Mr. Willis, other than what was written in the press release. In the release, Mr. Willis was described as, “a veteran California business executive.” Further, the announcement gave some biographical information about Willis, and mentioned, “In 1996, Mr. Willis founded his own Internet-based, supply chain software company, raising $58 million in venture capital funding and later sold the
company in a private transaction in 2003.”
Now don’t get me wrong. Starting and running a business is hard work. But even Longacre remembers the heady days of the internet bubble in the late 1990’s when people would bake some cookies, form a corporation, and then take it public, reaping tens of millions of dollars in the process.
Running PCGS is a bit different than running an internet start up. Does anyone think that it takes general corporate and business experience to run PCGS, or does it take specific knowledge of the coin industry? I am not sure which is more important. PCGS (CU, actually) is a global business, so perhaps one area of expertise is more important than the other. Personally, I think the head of PCGS needs to be tax savvy as well, particularly since it is a multinational business and should be taking advantage of various worldwide tax regimes. For something like that, it may not matter if you have coin industry experience or not.
What do you think?
company in a private transaction in 2003.”
Now don’t get me wrong. Starting and running a business is hard work. But even Longacre remembers the heady days of the internet bubble in the late 1990’s when people would bake some cookies, form a corporation, and then take it public, reaping tens of millions of dollars in the process.
Running PCGS is a bit different than running an internet start up. Does anyone think that it takes general corporate and business experience to run PCGS, or does it take specific knowledge of the coin industry? I am not sure which is more important. PCGS (CU, actually) is a global business, so perhaps one area of expertise is more important than the other. Personally, I think the head of PCGS needs to be tax savvy as well, particularly since it is a multinational business and should be taking advantage of various worldwide tax regimes. For something like that, it may not matter if you have coin industry experience or not.
What do you think?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
Neither is "more important" because both are essential.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Does he have any in-depth knowledge of the coin market? If he doesn't it will probably prove to be a bad move. >>
He's owned Premium Numismatics for a number of years.
He is agressive, honest, and knowledgeable. And his business savvy is superb. He and PCGS will make a great combination.
So to answer the OP, Don has both qualities necessary to make this choice by PCGS a smart move.
Congrats to both.
What is required is having enough business savy to keep the company solvent in turbulent times.
Besdies, PCGS is just one facet of Collectors Universe.
The name is LEE!
bob