Newhouse holds a photo of the building as it appeared in 1930. The building that currently houses the offices of M & M Insurance Associates was originally constructed for the Etchen Auto Co., a Studebaker dealership.
The second floor of the M & M Insurance Associates building in downtown Wichita attracts the attention of motorists passing by the Douglas Avenue location.
“ We only used family money,” he said.“ I didn’ t borrow money. Most of these finance companies borrowed money from the bank, but we just used family money. We didn’ t use the bank’ s, so we were limited. But it was just too much. By then, there had been half a dozen finance companies pop up for insurance.”
Life Lessons
After five decades in business, the 85-year-old nearly retired last year after he received a proposal to sell his business. In August, Newhouse signed a letter of intent to sell the business to the Parsons-based Wood-Dulohery insurance agency. As the deal moved forward, talks stalled, preventing the agreement from getting finalized by the fall deadline. However, an extension was granted giving the men additional time to negotiate a deal. But in the meantime, Newhouse realized he just couldn’ t sell the business.
“ I thought about it, and I thought about it, but I just couldn’ t sell it. You know?” he said.“ When my folks gave me the money, they said,‘ This is for the family business. And I would prefer it to be a family business.”
Once he reached a decision, Newhouse drove to Parsons to deliver the news face-to-face.
“ I explained how I just couldn’ t sell it,” he said.“ I went down and explained that I just couldn’ t sell it. I was sorry, and they were really disappointed to say the least... and so I’ m still here.”
A key to success, Newhouse said is surrounding himself with several, talented key people. Without them, he said, he wouldn’ t have lasted a year.
“ When you’ re interested in helping people, and you have a genuine interest in them, they know it,” she said. Believe me, they know it. And you’ re not an order-taker. And you’ re not sitting there doing what you have to do and not really care. That don’ t cut it … That’ s why I’ m sitting where I am today.”
A passion for the American automobile
As a high-schooler in the mid-1940s, Newhouse drove his own Model A Roadster to school each day. The automobile, complete with a rumble seat and a soft top, was hard to drive by modern day standards, but it didn’ t matter to a young Newhouse. After a couple of years, the young man graduated from the starter model, upgrading to a car with a hard top.
Several years later, Newhouse, now an adult, wanted to find another Model A similar to the one he had in high school. As he searched, Newhouse eventually learned one of his clients had three Model As tucked away in his garage. Despite his attempts to purchase just one of the models, the owner refused to sell any of them.
A few years after moving into the agency’ s current location, however, Newhouse received a call from one of the car owners, who asked if he was still serious about buying the Model A. When he told the man he was, Newhouse learned he couldn’ t just buy one, but all three, and was told to bring his checkbook. When he arrived, however, the cars were up on blocks and covered in dirt. Mice nests filled the tailpipes.
Newhouse brought the cars to his garage, where they were cleaned and overhauled by his longtime mechanic. Many dollars and man hours later, he said, the cars were running.
Around Wichita, Newhouse is known for his love of antique cars. If he isn’ t driving one of his Model As, they’ re on display on the second floor of the business – which was originally used as an auto showroom. And at Christmastime, the cars serve as the centerpiece for the whimsical displays, which capture the attention of motorists along Douglas Avenue.
“ I’ m just like a lot of men,” he said.“ I like my toys. But I also know how much the kids like the cars in the window. It gives them a lot of joy.”
18 KANSAS INSURANCE AGENT & BROKER | January-February 2016 |