Numbers Don't Lie: NO Recession

Posted on April 30, 2008 by LCT Magazine

DUMPSTER DIVING: The economic scare-talk has reached a fever-pitch the last few months, with many industries, including chauffeured transportation, bracing for a recession. Pols and pundits have us all heading into a blighted dumpster. Well the numbers are in. The verdict: technically, not a recession. Growth may be scant, but a recession happens when you have TWO QUARTERS of negative growth -- not one quarter, two months or five months -- but six full months. So the earliest we'll know for sure is when numbers are crunched by early October. That's a lot of time for things to change for the better.

In speaking with operators around the country this week and last, we at LCT have found several who are hurting, with revenues down 10-15 percent. But just as many are seeing increased demand and growth, showing that even economic slowdowns vary widely among all the 50 states. In fact, our own Jim Luff, an operator in Bakersfield, Ca., reports his company has been inundated these last few weeks with a demand exceeding 30 percent over last year.

Once the Fed starts raising rates again, food and gas prices will likely decline. So limousine operators may want to encourage current and potential clients to spend their stimulus checks on . . . what else?

-- posted by Martin Romjue 

View comments or post a comment on this story. (1 Comment)

More LCT Blog Blog Posts

October 1, 2012

Event Management

Don't let your guests down. Here are some things to think about before the event starts.

September 26, 2012

October LCT Mag Focuses On Customer Service

ISSUE PREVIEW: What does he think? What did she really say? Are you channeling your customers? In the October 2012 issue of LCT Magazine, you’ll get a complete primer on how to read and please your
September 26, 2012

Driverless Cars Legalized In California

With no need for people to operate vehicles, how can limo companies adapt to the new world of transportation?
September 26, 2012

Manners Still Matter On Social Media

It has never before been easier for businesses to share information, insight and intimacy with consumers; it has also never been easier to offend them. Read more to learn how to avoid a social media faux pas.
September 20, 2012

My First Encounter With The 2013 Lincoln MKT Town Car

On my trip to Chicago last week for the 2012 BusCon Expo, I had the pleasure of experiencing a new ride — the 2013 MKT Town Car.
See More

Facebook Comments ()

Comments (1)

Post a Comment



See More

See More

See More

See More

LCT Store

LCT Magazine - January 2017 $12.95 THE MONEY ISSUE COVER STORY: * Dashboard Helps Steer Company Finances * *


Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment


Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close