A.J. Foyt Racing Mourns Loss of Ken Hendricks


WALLER, Texas Dec. 21, 2007--It is with great sadness that we at A.J. Foyt Racing have learned of the death of Ken Hendricks, the founder, chairman and chief executive officer of ABC Supply Co., Inc. He had sustained a massive head injury after falling at a construction site at his home Thursday evening and died during emergency surgery at Rockford Memorial Hospital. He was 66. Funeral arrangements are pending.


“I am still in shock,” said A.J. Foyt upon hearing of the tragedy. “Ken was a terrific businessman and a hard worker but much more than that he was a great guy who meant a lot to a lot of people. He was a man whose handshake was as good as a 50-page contract. They just don’t make them like that anymore. We had a lot of fun when we were together.


“I am so sorry for his wife Diane and all their kids—I’ve met them all because they were all involved in the business in one way or another. For this to happen at Christmastime just makes it so much worse because his family was so, so close--and so big, because he thought of his company and the people who worked for him or with him as part of his family. I still can’t believe he’s gone.”


Ken (never Mr. Hendricks, “call me Ken”) was a visionary entrepreneur who started out as a contract roofer and became the head of the country’s largest, privately-owned roofing supply business, approaching $3 billion annually in sales. The persona of ABC Supply, Ken was involved in a variety of businesses that sparked his entrepreneurial spirit as well a backer of many education-based and charitable programs in his local and global community.


Spectacular though he was in business, and more so because he didn’t complete high school, Ken will be remembered for the incredible relationships he forged throughout his life. As he followed his own dream of success, he created opportunities for others to follow theirs as well. Indeed, the theme of the Company’s year-long celebration of its 25th anniversary this year was Live the Dream.


He is survived by his wife Diane and seven children (five of whom are employed in the family business), and 14 grandchildren.


ABC Supply is the sponsor of A.J. Foyt’s No. 14 Indy car which will again be piloted by Darren Manning in 2008. ABC Supply has sponsored Foyt’s race team since April, 2005.


Following is an interview with Ken that appeared on forbes.com in 2006 as part of a series of interviews with self-made billionaires.


The 400 Richest Americans: The Entrepreneurs
Kenneth Hendricks
09.21.06, 6:00 PM ET


Net Worth: $2.6 billion
Age: 65
Industry: Building supplies


1. What do you eat for breakfast?
No real food – just vitamins.


2. What was your nickname in high school?
Ken.


3. What was your first job?
Helping my dad during the summer with remodeling jobs at age 12, and as a janitor at Spiegel after school at age 16.


4. How often do you exercise?
I’ve always been active and physically fit, but I just started working out at age 65.


5. Who was your mentor?
Roy Rogers – who kept his fame and life in perspective.


6. How many hours a day do you read?
One to two hours a day.


7. What motivates you?
Making a difference in other people's lives by providing opportunities for them to achieve their dreams.


8. What is more important – the idea or the execution?
The idea is crucial, but only as good as the execution.


9. Worst day of your life?
The fear that a loved one was seriously ill, and the days my parents died.


10. Do you pray?
I give sincere thanks every day of how fortunate and blessed I am.


11. What was your biggest mistake?
Being naïve by trusting people before verifying their credentials.


12. Worst business idea you ever heard? (Did it succeed?)
GM converting gas engine to diesel – no, didn’t work.


13. What can’t you live without?
My family.


14. What is your favorite way to relax?
Being outside in nature canoeing, motorcycle riding, or being near water.


15. What is the best part about being the boss?
Being responsible for my own decisions.


16. What is “success” to you?
Success gives me the ability to continually pursue new ideas and opportunities and sleep well.


17. What is the best investment advice you ever heard?
Believe in yourself and take the path less traveled.


18. Is there any reason to get an MBA?
I don’t know of any reason. I believe you can be successful without an MBA (ex. Ted Turner and Bill Gates).


19. If you could be anything else, what would it be?
A general, the CEO of GM, or owner of a football team.


20. What is your advice to young entrepreneurs?
Learn the business from the ground floor up – not from the top floor down.