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D. Michael Hockett was facing a major dilemma.
It was late 1983. A recent conversion to Christ had made him question his life's work, selling used cars.
Suddenly, the field to which he had dedicated his life did not look very attractive. Surely, there was a better way to glorify God than to stay in a profession often ranked by the public just above lawyers and journalists on the contemptibility scale. But, he knew no other work.
One day, a minister in his church approached him, asking where he could buy a good car. Hockett invited him to his auto auction on Brookville Road.
The minister entered the auction, looked around at the numerous auto dealers wheeling and dealing, turned to Hockett and said, "What a mission field."
That made Hockett's decision easy. He would dedicate his life to God by being the most honest, charitable auto dealer he could be, bringing integrity to a business where it was often lacking.
"Our business demands integrity," Hockett said. "People must depend on us for integrity and truthfulness."
PROSPERITY, CHARITY
While truth and integrity are often used to describe Hockett, another word also applies: successful.
Hockett, 51, took a small business and developed it into a booming auto auction company. ADESA Inc., of which Hockett is president and CEO, now operates 11 auctions in the United States and Canada. ADESA went public in 1992, and its stock had the third-largest increase of all Indiana stocks in 1993. Other auto auction acquisitions are in the works.
"Mike is one of the foundations of this industry," said Phil Bounsal, an accountant with Ernst & Young, who has done considerable business with Hockett over the past decade. "Everybody likes and trusts Mike. He runs one of the highest ethical firms you could ever find."
Spurred by his success and his calling to give back to society, Hockett repeatedly has made enormous charitable contributions.
Hockett, his wife of 12 years, Judy, and two others serve as trustees of Indianapolis A.D.E. Charities Inc., a charitable organization to which Hockett's auto companies have donated more than $1.4 million in the past four years. In addition, A.D.E. Charities has donated more than $2.5 million from 1990 to 1992. ADESA is expected to contribute...