halifax international airport car rentals

halifax international airport car rentals
My good friend Dick [surname only] a great opportunity for the eyes, and he convinced me to join him in a car, where he served as General Manager. He assured me that the company was in its last throes, and it was an excellent chance that we negotiate for the equipment when they went bankrupt.

That is exactly what happened on 1 July 1967 we were the owner of Capital Rent A Car, Inc. 1st National Bank of Fort Lauderdale gave us the 88 cars instead of title plus the first $ 20,000 in working capital and a moratorium of two months on the payment of the cars. Of course, the cars were not worth anywhere near the money owed, and we have not two Dimes rub together. But with no other opportunity, we are in.

Over the next seven years, we have only had to cash decisions, never a business decision. Problem was, we were always short on the cash side. We grew because we were aggressive and innovative, but always cash short. To stay alive in the next seven years we have asked and received moratoriums and we kited checks, we are always good.

We were big business with lenders, GMAC, Ford Motor Credit, Chrysler and more than 4 or 5 local banks. They were all cooperative activities of the realization that we were two nice stupid boys who are sincere, but unfortunately incompetent. However, there was a company that we are not fooled around with. That was Harry had a small local car leasing business. We stated that all of our lenders have been in business-to-money. Not Harry, he was in business for their livelihood. Although Harry has a large, 75 or 80%, well healed partner Harry always pay on time and without knowing it, that the dividends paid.

In 1973 and the Arab-Israeli Yom Kippur war plus higher gasoline prices and a fuel embargo of the following spring. Our business model was to the right size car which translated means that no sub-compressed and heavy on the middle class and full-size cars. Consequently, after the 73-74 season, we could not in unnecessary inventory. At higher gas and gas shortages car wholesalers wanted to buy fuel efficient sub-compressed, and perhaps a few compressed. Mid-size and full-size cars were, in essence, evidence distribution. What was on the larger vehicles is not enough to pay off loans and get the title. And we do not have the money to purchase the title, so that we at the end of the search is not on cars.

In May, surrounded by this rusting fleet We thought about the future, especially the 20th August. In Florida, in 1974, all rental cars were in the next year tags purchased at this time. We were looking at $ 20,000 and that was all we could do is. With bankruptcy staring us in the face we were thinking about our alternatives.

That is, when Harry came to mind. He said he always wanted to be in the daily car rental business. Leasing cars was good, but we were in the most exciting part of the business. He has not said it once, he said, there must be a dozen times. Well, we can help him.

Luckily, Harry did not know of our financial difficulties and that we had more cars than we could rent. So it was not uncommon for us to lease 400 Dodge Dart, due in June for the summer season. In July, after the cars were we gave Harry the news. We did not have the money, a license for the vehicles and our only alternative was filing bankruptcy. As expected, Harry, a Hungarian immigrant with a temper exploded. It reminded him that he always wanted to be in the car rental business. He had to speak to its majority partner. Our building lease could be negotiated, would the utility companies to pay and Southern Bell would him the phone numbers if their bills were paid. And Dick and I would like for the new company and our know-how [?].

And that is exactly what happened. Dick and I, the company and personal insolvency. The new company opened its doors on 1 September 1974 in our five locations, Miami, Ft Lauderdale, Orlando, Tampa and West Palm. John had accountants as president, Mike was set up as president in 1976. Mike had first refusal should John ever want to sell the company.

The name Harry's leasing company was Alamo Leasing. Logically, the name of the car rental company was Alamo Rent A Car, a major car rental companies. But this is not the rest of the story. Every thing works fine, very good for the players.

To the story you should know that most partners John, was John D. MacArthur by John D. and Catherine T. MacArthur Foundation Trust.

John died in the autumn of 1977 and Mike with a group of 8 other people bought the company from the Board of Trustees in 1978. You do not know the price, but I am sure that the trustee does not say: "We take a write-off." Mike also, to my knowledge, the remaining shareholders and the company sold for a substantial amount of money, hundreds of millions, during the late 90s.

Harry received over $ 250,000 for his 20 or 25% of the shares of the company. Can you believe that he is a car rental company on 1992 and the name of Capital Rent A Car. If I were to doubt the wisdom that he said that the name was bad luck for me but lucky for him. I'm not so sure that he died some years later before the capital to the next level.

As for me, when people asked what I did when I went into liquidation, I told them that I have more scratches.