When Shau-wai Lam, 66, joined Dah Chong Hong Trading Corp. (DCH), his initial assignments were in international trade. But he found his true calling when the company ventured into automobile retailing. He helped establish the company’s first dealership, DCH Paramus Honda in 1977, in New Jersey.
A couple of years later, Lam was sent to Los Angeles, where he was responsible for the start-up of two additional dealerships under his supervision. Both locations became the top national-ranking dealerships of their respective franchises.
After his appointment as president of DCH Auto Group in 1988, Lam led the company’s expansion. In 1992, he was appointed chairman. Today, with 32 dealerships in California, Connecticut, New Jersey and New York, DCH is one of the largest auto-dealer groups in the country. The company’s sales are expected to exceed $2 billion this year. Lam credits the company’s success to an unflagging emphasis on ensuring that customer satisfaction takes top priority at every DCH dealership.
“I am fortunate to have the support of many capable and loyal colleagues who are dedicated to our mission: to be an innovative industrial leader totally committed to customer satisfaction, employee satisfaction, integrity and teamwork,” he said.
Under Lam’s leadership, DCH has earned a reputation as a company that believes the best way to do business is to behave with honesty, integrity and with the highest ethical standards. He takes pride in the fact that DCH dealerships have received more J.D. Power and Associates Dealer of Excellence Awards than any other dealership group in the nation. His advice to those who are just starting out in business reflects his own high moral standards.
Chairman DCH Auto Group South Amboy, N.J. Annual sales: $2 billion (2007 est.)Type of business: Auto dealershipsNumber of stores: 32Areas of operation: California, Connecticut, New Jersey and New York
“Behave with honesty and the highest ethical standard and always do the right thing,” Lam said. “Put the team’s interest ahead of one’s own interest. Be humble and be respectful to others.”
Lam, a vice chairman of the U.S.-Chinese Chamber of Commerce, is a strong believer in giving back to the community. He and his wife of 39 years, Marie, are very active in supporting organizations that provide community, health, educational and cultural services. They have two children, one of whom has followed his father into auto retailing.
“My son has been learning the business from the ground up.” Lam said. “He is now a service manager at one of our dealerships and is passionate about the business.”
CompUSA may get a new look
ADDISON, Tx. After opening a new format store last month, CompUSA may be changing the format of its other stores, depending on customer demand and product interest.
According to reports, the elements found in the prototype store, located in Texas, will be incorporated into other CompUSA locations across the United States.
The nearly 7,700 square-ft. relocation site includes an Apple shop featuring Mac computers, iPods and Apple accessories, and a full-length LCD TV wall.
Additional expansions include extended gaming, which includes an entire wall devoted to the Nintendo Wii, PlayStation3 and Xbox 360 gaming platforms, plus a PC gaming setup to test equipment and play new titles.
While businesses can get their share of support with a specialized services section, all consumers can visit the store’s redesigned IT support area.
“This new store aligns CompUSA’s vision to better serve its three core customers, the technology enthusiast, educated professional and small and medium businesses,” said Gabriela Villalobos, the retailer’s sales and operations evp.
CompUSA announced in April that it would narrow its focus to three core customer groups rather than try to serve a mass audience.
The move was part of a comprehensive restructuring, initiated last February, that included an overhaul of senior management and the closure of half its store base as the privately held chain looked to improve sales and profitability.
Walgreens withdraws from CVS provider plans
DEERFIELD, Ill. After many months of talks over low and below-market payment rates by CVS Caremark for four prescription plans, Walgreens has withdrawn as a pharmacy provider from the plans.
Patients affected include members of prescription benefit plans managed by CVS Caremark for ArcelorMittal, Johnson Controls, Progressive Casualty Insurance and Wisconsin Education Association Trust.
Most of the affected members live in Illinois, Indiana, Michigan, Ohio and Wisconsin.
Trent Taylor, president of Walgreens Health Services, the managed care division of Walgreens, released the following statement:
“This is not where we wanted negotiations to lead,” he said. “We’re sorry that our pharmacy patients and CVS Caremark’s clients are caught in the middle, and we’ll do all we can to ensure a smooth transition for our patients to another pharmacy. Meanwhile, we’ll continue to work on resolving this issue with CVS Caremark.
“Leaving a benefits plan is an extraordinary step for us, but it demonstrates how extraordinarily low our payments were from CVS Caremark. We can’t continue accepting reimbursement rates that are drastically below market, while offering patients needed special services such as 24-hour pharmacy access and drive-thru pharmacies.”