Irv Grossbeck
๐ค SpeakerAppearances Over Time
Podcast Appearances
And we tried to price it as fairly as we possibly could at Continental.
Well, that point of view, I'm sure, bled over into my conversations with Kevin because I think it's attractive.
And by the way, back at Continental for one second, one of our major institutional investors was unalterably opposed.
to having us repurchase shares.
And we had a terrible time convincing that person that it was a good use of capital.
No, you should be expanding.
Look at all the opportunity and so forth.
So one of those investors wasn't thrilled with what we did.
But even then, being 2001 and thereafter, seemed to be a very attractive use of capital.
any free capital you could scrape up because who wouldn't want to invest in Asurion at that time, at least that was my point of view, with all of the opportunity that lay ahead for them and the quality of their management.
And it just seemed like they were in a real sweet spot.
Kevin and Brett were talking about LocLine and then nothing happened.
And then it would come up a year or so later and nothing happened.
And it seemed to me it was a few years that they had wanted to acquire LocLine and had been unable to.
And then what I remember is that they came to a board meeting and whenever it was and
They said, we just can't connect with this guy.
He's impossible.
We haven't been able to do any good at all.
So I think I remember going to Kevin after the board meeting and saying, do you want me to take a crack at this guy whom I didn't know?
He lived in Kansas City, was running a small to medium sized public company of which Lockline was a part.