A Look at NADA 2014: Steve Forbes Keynote

3 min read

ForbesOne of the things I’m most excited about for NADA 2014 is Steve Forbes’ Saturday keynote. The name sounds familiar, I’m sure. As the Chairman of Forbes Media, this is a man who built one of the most well respected news outlets in the world. In anticipation of his NADA keynote, I went through and watched a few other keynote speeches he’s given to get an idea of what we can expect from his speech. Here’s what I learned:

Forbes Loves America

In his keynote address at the 2013 Better Government Competition, Forbes went into great detail about the history of American capitalism and how free enterprise has built this nation. One thing he will probably mention at NADA is the book American Democracy by Alexis de Tocqueville.

One of the most striking things that Tocqueville, a French historian, noted about America was the voluntary Associations that we form. In America, he noted, people voluntarily come together for one common cause (like the National Auto Dealer’s Association) whereas in Europe, it was customary to wait until you’re told to join a group. This is one of the many things Forbes believes has made America so great.

Forbes Loves Monetary Policy

I know this seems obvious. He runs a news outlet that mainly covers financial news; he obviously likes monetary policy. This is no average affinity, however, Forbes is nuts over monetary policy.

He acknowledges that he is mostly alone in this love, calling it “The most boring subject in the world.”

“If you’re ever in an airplane in coach and you want some elbow room between you and your seat mates, start talking about monetary policy,” he continued.
While I don’t know what he’s going to talk about on the flight to New Orleans, you can rest assured that he’s going to be talking about monetary policy and its impact on the auto industry in his keynote.

Forbes Loves Metaphors

Well, maybe he does, maybe he doesn’t, but I loved a metaphor he used, and that’s all that matters.

During his keynote at Ariba LIVE in Washington DC, he was talking about his favorite subject (see above) and he used a metaphor that I’m sure he will use again that will really resonate with the NADA crowd. In talking about monetary policy, he said “If you think of monetary policy as an automobile or a truck, you can have a magnificent vehicle, but if you don’t have sufficient fuel you’ll stall the thing. Too much fuel, you’ll flood the engine, right amount and you have a chance to move ahead.”

I really enjoyed the keynotes I watched of his and I can’t wait to see the rest of the speakers this year.

If you’re not able to attend NADA this year or you will have to miss any of the sessions, we’re compiling The Ultimate Recap of NADA 2014 and releasing it for free the day after the show! Click here to register for your free copy!