DIvIDEnD - Stephen M. Ross School of Business - University of ...

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Whether he’s playing big-time college football or arranging a
big-time convertible-debt deal, J.D. Carlson, BS ’91/MS ’92/
MBA ’95, is motivated by one thing: delivering for the team.
an inspiring leader certainly helps push that motivation. as
both an athlete and a businessman, carlson has been lucky to
encounter that inspiration twice in his career.
first, he leveraged a strong, accurate leg into a u-m scholarship
and football glory under legendary head coach Bo Schembechler.
now he’s leveraged his Ross mBa to a position as vP of finance
and controller for Penske automotive group inc. (Pag), working
for business and racing legend Roger Penske.
“if i had played football somewhere else, i’m
sure i would have found great teammates and fans,”
carlson says. “Playing for michigan, i was fortunate
to be led by a coach for whom i would try to run
through a wall. that’s what made my experience
at michigan unique.”
today instead of kicking field goals, carlson is
handling the finances at Pag, one of the country’s
largest auto retailers. carlson says his current boss
shares a lot of traits with his late football coach.
“it’s almost thrilling a lot of times, and from an
accounting perspective you don’t get to say that too
often,” he says. “Roger Penske has a lot in common
with Bo schembechler. he’s very personable, yet demanding. he can
have so many things going on at once but still be very precise in what
he’s doing. he takes time for everyone and emphasizes that no one
54 DIvIDEnD spring 2010
kicking the tires at penske
Former Wolverine Placekicker J.d. carlson, MBA ’95,
drives Finances for Automotive Group
person is more important than the team. the
types of things we get into, the questions that get
asked, i wouldn’t have that any other place.”
carlson thrives under pressure, a trait he
discovered on the football field. he was the
game-winning hero more than once for his
high school football team, a powerhouse in
florida. and once his career as a wolverine
kicked in, he gained national fame by hitting
last-minute game-winners against ohio state
and ucla. he graduated as one of the most
accurate kickers in the history of the storied
football program, scoring 129 consecutive
point-after attempts in his college career.
But carlson’s early introduction to business
brought unique challenges. By his own admission,
he had a difficult first year in the mBa
Program. things turned around when he took intermediate
accounting in year two. “Part of the final exam was preparing
a cash flow statement,” he says. “everyone was all worked up
about it. when i got a perfect score on the exam, it just kind of
confirmed this was the field i needed to look at.”
confidence in both sports and accounting has served carlson
well over the years. in a previous position at coopers and lybrand
(now Pricewaterhousecoopers), he led a team dealing with the
disposition of a 3m subsidiary, a billion-dollar transaction. Prior
to Pag, he worked at manufacturer tecumseh Products co. when
Penske called, carlson was drawn to that rare combination
in business: a public company that embraces
an entrepreneurial spirit. named america’s most
admired auto retailer by Fortune, Pag is the u.s. distributor
for smart car, the microcar manufactured
by Daimler ag, and owns a stake in Penske truck
leasing. Penske also has a venture-capital firm.
“an accounting firm is very structured. with
Roger, you don’t know what’s going to happen next,”
carlson says. “when i joined Penske, we had just
entered our convertible debt arrangement. six
J.D. Carlson, MBA ’95, says
working for roger penske is a lot
like playing for Bo schembechler.
Carlson turned down Yale once
Michigan came calling.
months later, the smart car deal came about. this
past year we’ve been evaluating our capital structure
and came close to pulling off the acquisition of the
saturn brand from general motors. it’s definitely a strong team here
with Roger as the captain. it’s great to see how his mind works and
participate in some of the things he’s doing.” —Terry Kosdrosky
photo by dave lewinski. inset photo courtesy of j.d. carlson.