The Park Circle Motor Company

The Park Circle Motor Company was the preeminent car dealership of the Baltimore area from its inception in 1921 until 1998 when the last of the dealerships were sold and it became a family office. Its roots can be traced to A.M. Legum, who founded the company before the idea of personal Automobile ownership had entered the public consciousness. The company survived and prospered through the challenging economic times of the 20s, 30s and 40s.

Timeline

• 1921 A. M. Legum founded The Park Circle Motor Company
• 1923 Park Circle relocates to Carlin's Park, largest automobile establishment in Baltimore City
• 1933 Leslie Legum joins Park Circle Motor Company
• 1934 Park Circle salesman delivers more Chevroletcars than any individual salesman in the United States
• 1939 Park Circle became the second largest Chevrolet dealership in the country after being a member of the “Chevrolet Big 10”, for eleven years. Continued in that position until 1957.
• 1939 Park Circle Motor Company established Routan Chevrolet-Cadillac-Oldsmobile
• 1952 Purchased Truck Rental Company of Baltimore
• 1952 Rosemary Clooney appeared for the introduction of the new car line.
• 1952 Park Circle Fire
• 1954 Routan Chevrolet-Cadillac-Oldsmobile changed name to Westminster Motors.
• 1959 Leslie Legum, president of Park Circle Motor Company, chosen by General Motors Corporation to serve on a board representing the nation’s metropolitan area to study automotive market and general economic conditions
• 1962 Sold its wholly owned subsidiary Truck Rental Company of Baltimore to Avis Rent a Car System of Boston and later, Garden City, NY in return for cash and 10% interest in Avis. This cash and stock became the basis for Park Circle’s original stock portfolio
• 1963 Jeffrey Legum, 3rd generation, began full-time employment after graduating from Wharton School of the University of Pennsylvania with a B.S. in Economics
• 1967 Legum became executive vice president; the youngest Chevrolet dealer in the country at age 25.
• 1966 Legum began managing the stock portfolio. By 1989 the stock portfolio was much larger than the dealership interests.
• 1968 Leslie Legum leaves Park Circle Motor Company to become Managing General Partner of Parkway Industrial Center, Hanover, Maryland.
• 1971 Park Circle Motor Company Celebrates 50 years selling Chevrolets
• 1973 Jeffrey Legum purchased Westminster Chevrolet Cadillac, Westminster, MD. It became the largest volume Cadillac dealer in the Baltimore area.
• 1977 Closed the original Park Circle Motor Company location on Reisterstown Road
• 1977 Purchased Charlie Irish Chevrolet on Eastern Avenue in Baltimore, named it Legum Chevrolet
• 1979 Jeff Legum Success Factors
• 1981 Legum lent Cadillacs for the Ronald Reagan Inaugural Parade in Washington
• 1982 Acquired the Nissan franchise; first dual Chevrolet/Nissan dealership in a metropolitan area and 3rd largest Chevrolet dealership in the US.
• 1983 Second largest Dealer TV advertising
• 1984 Jeffrey Legum was one of four US Nissan Dealers chosen to meet with and advise the Chairman, President and Board of Directors of Nissan. The meeting was held at their Tokyo headquarters. Jeffrey and the other dealers were entertained by Nissan for 10 days in Japan and visited several Nissan factories. Coincidentally, Baltimore Orioles visited Japan at the same time and stayed at the same hotel as Jeffrey.
• 1985 Economic Effects on Retail
• 1985 Tardiness by the IRS in Releasing Tax Refund Checks Impact on March Retail Sales
• 1986 Automotive News ranking of “Sales Giants” Legum Chevrolet Nissan placed third largest in the country.
• 1989 Sold Legum Chevrolet/Nissan dealership
• 1989 Moved business office to 1829 Reisterstown Road; located on the same road, 6 miles northwest of the original dealership
• 1991 Jeffrey Legum, chief executive officer, Park Circle Motor Company and Westminster Motor Co. outlines his business success principles
• 1995 Leslie Legum, chairman of the board of the Park Circle Motor Company, developer and philanthropist, died
• 1997 sold Westminster Motors, Chevrolet, Oldsmobile, Cadillac ending the Legum’s 76 years as automobile dealers.In another case of consolidating car dealers, Len Stoler Inc. has bought Westminster Motor Co. in Carroll County, the companies said yesterday. Stoler, which already operates dealerships in Owings Mills and Westminster, adds Westminster Motor's Chevrolet, Oldsmobile and Cadillac operations to an already broad lineup.

Westminster owner Jeffrey Legum is leaving a business that traces its roots to 1921, when his grandfather founded Park Circle Chevrolet in Baltimore. "It's a bittersweet moment," Legum said. "I've been a Chevrolet dealer for over 30 years, and a Cadillac and Oldsmobile dealer for 24 years."

Westminster books about $50 million in annual sales, including deals with fleet buyers, Legum said. Recently, Westminster was selling about 1,000 cars a year to individuals and another 2,500 to fleets. "We were probably the third largest Chevrolet dealer in the Baltimore area," Legum said. He declined to disclose a price for the company or its profitability.

The prices of profitable, sizable dealerships have been rising recent years, helped in part by acquisition sprees by big, publicly owned companies such as Republic Industries and United Auto Group. Prices for some recent deals have passed four times pre-tax earnings, according to Automotive News, a trade paper. Pretax profits for some dealerships surpass 2 percent of sales.

Len Stoler Inc. now sells a veritable United Nations of car nameplates: Nissan, Lexus, Mitsubishi, Porsche, Audi, Ford, Chrysler, Plymouth, Jeep, Suzuki, Chevrolet, Oldsmobile and Cadillac. It is the only Baltimore-area dealership to offer vehicles from all three U.S. auto makers, the company said in a prepared statement.

Westminster Motor was started by a partner of Legum's grandfather, the late A. M. Legum. Although he's no longer running a dealership, Legum plans to stay involved in the business: He's just bought what he called "a large position" in Republic's stock. Pub Date: 11/18/97 http://articles.baltimoresun.com/1997-11-18/business/1997322006_1_chevrolet-dealer-westminster-motor-legum

• 1997 Jeffrey Legum owns and is CEO of The Park Circle Motor Company, DBA Park Circle Investments, a private investment company.
• 2011 Park Circle Company, DBA Park Circle Investments celebrates its 90th anniversary, continuing to grow its investment portfolio.
• 2011 Park Circle Company, DBA Park Circle Investments maintains the Legum Family office at 1829 Reisterstown Road, Baltimore, Maryland.

Jeffrey A. Legum

In 1963, after graduating from The University of Pennsylvania, Wharton Business School with a B.S. degree in Economics, Jeff joined the family business. In 1967, at the age of 25, he became the youngest Chevrolet Dealer in the Country. In 1977 Park Circle purchased Charlie Irish Chevrolet on Eastern Avenue in the Eastpoint area of Baltimore and closed their original location. The dealership was named Legum Chevrolet; Jeff was CEO, he acquired Nissan franchise in 1982, first Chevrolet Nissan dual dealership in the metropolitan area and third largest Chevrolet Dealer in U.S. He sold the dealership in 1989. In 1973 purchased Westminster Chevrolet Cadillac in Westminster, Maryland. It became the largest volume Cadillac dealer in the Baltimore area. Dealership sold in 1997. Jeff owns and is CEO of The Park Circle Company, DBA Park Circle Investments, a private investment company with interests in corporations with a Baltimore history, i.e., Legg Mason Inc., Adams Express, Stanley Black & Decker, McCormick & Company, T. Rowe Price, PNC Financial, and The Travelers Companies (formerly USF&G).

Professional Achievements

• Park Circle Motor Company, Executive VP 1966-77; President & CEO, 1977-current
• Legum Chevrolet/Nissan President & CEO, 1977–1989
• Westminster Motor Company, President, 1973-current
• PC Parts Company, President, 1995-current
• Parkway Industrial Center, Limited Partner, 26 years
• The Legum Foundation, Trustee, 1963-current
• Marquis Who's Who in the World, Object of Biographical Information, 1989-current
• Who's Who in America, Object of Biographical Information, 1989-current
• Member, Board of Directors and Executive Committee, United Consolidated Industries - 1971-75

Education

• The Park School of Baltimore, 1-12
• The University of Pennsylvania, Wharton Business School, B.S. in Economics, 1963 (Dean’s List 1962-1963)
• Graduate of Chevrolet School of Merchandising and Management, 1966

Awards

• Associated Jewish Charities of Baltimore Award of Honor, 1967 and 1968
• Associated Endowment Fund Philanthropy Leadership, 1993
• Automotive News Sales Giant, 1986, 1987, 1988
• Baltimore Museum of Art, Honorary Trustee, 2011
• Cadillac Pinnacle of Excellence, 1986
• Cadillac Master Dealer Award, 1980–1988, 1991
• Cadillac National Service Excellence Award, 1980
• Cadillac Silver Award for 25 continuous years as a Cadillac dealer, 1997
• Chevrolet Service Supremacy Award, 1978–1987
• Chevrolet Silver Award for 25 continuous years as a Chevrolet dealer, 1992
• Chevrolet Chart Buster Award #1 in Car Sales, 1982
• GM Dealer Award in recognition of your cooperation and endeavors as a council member, 1976–77 and 1982–83
• GM Parts Division Market Builder Awarded to Jeffrey Legum, 1977–97
• Nissan National Merit Master, 1982–1988, Award of Merit, 1982–1988
• The Park School Board of Trustees—Minute of Gratitude, 1994
• Young Presidents' Organization Certificate of Appreciation, 1984

Civic Activities

• Associated Jewish Charities of Baltimore

Member of the Board of Trustees, 6 years

Chairman transportation division, 3 years

• Associated Placement Bureau Board (Jewish Vocational Services)

Board of Directors, 12 years

Vice President, 3 years

• Baltimore Hebrew Congregation

Investment Committee, 28 years

Board of Electors, 3 years

• Baltimore Museum of Art

Honorary Trustee

Trustee, 20 years

Executive Committee, 18 years

Fine Arts Accessions Committee, 20 years; Chair 4 years

Finance Committee, 15 years

Investment Committee, 20 years; Chair 5 years

Legal Panel, Chair, 3 years

Secretary/Treasurer, 8 years

• Johns Hopkins Medicine

Board of Trustees, 16 years

Finance Committee, 16 years

Wilmer Board of Governors, 21 years

• Johns Hopkins Bayview Medical Center

Lay member of Institutional Review Board for Human Subjects Research, 5 years

• Park School of Baltimore

Board member, 15 years

Investment Committee, Chair 15 years

Executive Committee, 11 years

Finance Committee, Chair 10 years

Treasurer, 10 years

• Served on Finance Committee for Maryland Senator Ben Cardin
• Preakness Celebration - Vice President, 2 years

Philanthropy

Jeffrey Legum, through The Legum Foundation, philanthropically supports a wide array of community efforts, such as Johns Hopkins Hospital and Johns Hopkins University, Endowed The Jeffrey and Harriet Legum Professorship in Acute Neurological Medicine, Endowed The John W. Griffin, MD Professorship in Neurology; Kennedy Krieger; American Cancer Society; Baltimore Museum of Art, Contributor, The Lucas Collection, 2000, Sponsored Andy Warhol Exhibit "Warhol The Last Decade", 2010–11, Endowed the 100th anniversary advertising and public relations campaign; Baltimore Symphony Orchestra; Chesapeake Bay Foundation; The Park School; University of Pennsylvania; House of Ruth; Baltimore Hebrew Congregation; Associated Jewish Charities.

Professional Associations

• Member, Young Presidents' Organization (YPO) – 15 years
• Member, World Presidents Organization (WPO) – 16 years