Pub. 55 2014-2015 Issue 3

39 SPRING 2015 in the United StatesMarine Corps Reserve. He did not set out to be a car dealer, though. He worked as an auditor and controller after college before applying to General Motor’s (GM) Minority Dealer Development pro- gram in 1995. “I was accepted and began my internship in September of 1996 with Charlie Thomas Chevrolet in Houston, where I was hired as a salesperson and later promoted to used-car manager.” Palacios worked as interim dealer and consultant before buying into an underper- formingOldsmobile andCadillac dealership in El Paso in 2000. “We became profitable by the end of the first month of operation,” he said but had to scramble when GM ter- minated Oldsmobile, which accounted for 50 percent of his new vehicle sales. “A GM manager suggested that I begin to write an exit plan,” he remembered. “We did write a plan, but it was a plan to succeed – and we posted greater profits in the years to come.” He faced a similar scenario with the Hummer franchise. Palacios added, “It feels as if we have been hit by lightning twice, though in spite of the challenges and tremendous setbacks, the dealership has succeeded in maintaining a high sales rate, high customer satisfaction and profitability.” He added a Chevrolet and Cadillac store in Cruces, New Mexico, to his portfolio in 2004. Just as he had been given an opportu- nity through the GM program, Palacios is dedicated to helping others reach their full potential. He worked with CommUNITY en Acción to develop the Young Achiev- ers Forum. “The purpose of the initiative is to reach out to youth from low-income neighborhoods and provide themwith a day of ‘inspiration, motivation and education,’” he explained. “Our belief is that in order to change the cycle of poverty we need to change the mindset of poverty.” About 1,000 sixth-grade students from the El Paso school district attend the event each year. Palacios also lends his time and talent to the Borderplex Alliance, a regional eco- nomic development group, and has served on the boards of CommUNITY en Acción, Medical Center of the Americas Foundation in El Paso andDoña Ana Community Col- lege in Las Cruces. In addition, his dealer- ships adopt 25 underprivileged families each Christmas. “We provide them with a Christmas dinner and gifts for the chil- dren,” he said. “Many of our employees also volunteer for various not-for-profit groups.” While Palacios has received numerous awards for his good works, he is most proud of recognitions that acknowledge his com- mitment to disadvantaged youth. “I espe- cially enjoy the letters that we receive from the children that we assist,” he said. “Being an auto dealer has put me in a position where I can have a greater role in impacting others. I have been able to leverage my resources and standing as a business owner to form coalitions and initiatives to make a better community.” Palacios was nominated for the TIME Dealer of the Year award by Bill Wolters, president of the Texas Automobile Dealers Association. He and his wife, Kathy, have two sons.  DEALERSHIP SERVICES FOR TEXAS DEALERS CONTACT Richard W. Nokes, P.C., CPA Dick Nokes, LLC (901) 321-5695 rwnokes@att.net VALUATIONS BOARD MEMBERSHIP BUY-SELL CONSULTING Reach your target audience a ordably. advertise get results DON BROWN Advertising Sales 813.423.1429 donfbrown@verizon.net