Equip - Fall 2014 - (Page 1)
ABA MEMBER SERVICES AND BENEFITS
6 The Great Handoff
planning takes time,
THE INFORMATION AND RESOURCES
ABA MEMBERS NEED TO SUCCEED
It's the Law:
Take age discrimination
Scott Darling, acting
FMCSA director, shares
the agency's 2015 plans
to improve safety.
State and regional groups share updates.
AN OFFICIAL PUBLICATION OF THE AMERICAN BUS ASSOCIATION
Strong financial management is built on caution,
trust, and experience
By Greg Brown
fter five decades in the business, ABA member
Allen Kinney has seen it all-like the time 10
years ago when he booked a river tour and the river
cruise line went bankrupt before he could get his
passengers to its dock.
When it comes to the financial management of
a motorcoach company, selling tickets and getting
buses filled and on the road often isn't the hard part;
it's the attractions along the way that might evaporate
"Anything can happen," says Kinney, president and
CEO of Great Day! Tours & Charter Bus Service in
Broadview Heights, Ohio, a company he and his wife,
Ann, founded 50 years ago. "The theater could close.
The production could close, and then you're out of luck."
As for the riverboat, Kinney caught a break. The
company paid him back. "The chances of getting a
refund were very slim," he recalls. "We got lucky and
received a refund."
A cash-flow hiccup can hurt. The Great Recession
has stressed small business owners in all areas of the
economy. Lending to smaller companies has fallen as
CONTINUED ON PAGE 4
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1/22/14 10:46 AM
Table of Contents for the Digital Edition of Equip - Fall 2014
Equip - Fall 2014