HOLDING ON: A business story about a limousine operator near Daytona Beach, Fla., shows how many operators are struggling to hold on. The story in the Daytona Beach News-Journal contradicts the industry myth that weddings, bachelor parties, and prom nights are recession-proof markets.
So far, 4 percent of operators nationwide have gone out of business, according to Richard Kane, president of the NLA, who was quoted in the article. So while the nation's GDP growth may be hovering somewhere between 0 and 1.5 percent, the chauffeured transportation industry has seen a 4 percent contraction. That's an industry recession.
While the truth hurts, LCT Magazine and this LL blog have provided ample ideas and suggestions to get creative during a recession and survive. That approach also will be prevalent at the LCT Eastern Conference coming up Sept. 11-12 at the Mohegan Sun Resort & Casino in Uncasville, Conn. Just click on "Market Trends" and "Going Green" for starters. -- M.R.
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