Pharos-Tribune

Business

June 29, 2014

Passing the torch

McCord son joins family hardware, distributing firm

Mike McCord didn’t want to pressure his son to consider taking over the family business, McCord’s Do-It-Best hardware store on Logansport’s east side.

Quite the opposite — he had contemplated auctioning or closing the business in 10 or 15 years, when age would force him to retire.

But it doesn’t look like he’ll have to do that now.

McCord recently brought his son Jake McCord onto the store’s managerial staff after the younger McCord graduated from Purdue’s Krannert School of Management with a bachelor’s degree in accounting.

Originally, Jake McCord wasn’t even going to study in a business related field — in high school, he’d been on track for a career in mechanical engineering, until he took a beginning accounting class and loved it.

“I really would just get excited when I saw something like the numbers matching at the bottom of the balance sheet,” he said, grinning.

One thing led to another. He spent summers before and during college working at the hardware store or in the stockroom for the store’s sister business, INCOM Supply. By his sophomore year in college, he expressed interest in possibly staying with the business long-term.

“I just fell in love with the business,” he said. And unlike many peers in the business school, he was “perfectly content coming back to a small town like Logansport.”

Mike McCord may have wanted to believe his son. But he also knew he didn’t want to exert any pressure on Jake — or any of the other three McCord children — to “carry on the family business.”

He’d even considered closing the business a few years into the future.

“I thought that, well I’m 54 now, 15 years from now I don’t imagine there’ll be somebody to come out of the woodwork that wants to buy it,” Mike McCord explained.

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