Industry Research

Carey Was First Publicly Traded Limousine Company

Posted on January 6, 2010 by LCT Staff - Also by this author - About the author

LCT Magazine wants to set the record straight after getting an e(ar)-mail full from Carey International about which company in the industry was the first to become publicly traded.

LCT received some inaccurate information from Hoovers and Dun and Bradstreet, a seemingly reputable source, for a Dec. 9 LCT E-News article that stated Dynasty Limousine of Jacksonville, Fla., a 2010 LCT Operator Of The Year finalist, is the first chauffeured transportation company in the U.S. to become publicly traded.

Carey International actually was a publicly traded company from 1997-2000, according to SEC records.

Carey became a privately held company again in September 2000, said Jake Shepich, marketing manager of Carey International.

This correction demonstrates the hazards of both publicizing and reporting the status of “first,” “best,” “only” among companies — which often turn out to be disputable terms in a marketing context. Unless those terms can be verified beyond any doubt whatsoever, as in George Washington was the first U.S. President, it’s safer to avoid them.

So, to be on the safe side, LCT will simply say that Dynasty Limousine MAY be the first SMALL-TO-MEDIUM sized limousine company to be publicly traded, but don’t completely take our word for it. Regardless, Dynasty’s move is a bold and unique accomplishment for an operator of that size, and COULD BE THE ONLY publicly traded limousine company in the U.S. at present — once all of the official approvals are fulfilled.

Source: Martin Romjue, LCT Magazine

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