Ambassador Gerald P. Carmen Accepts Board Position With 1-800-AutoTow
28 July 1998
Ambassador Gerald P. Carmen Accepts Board Position With 1-800-AutoTow
BOYNTON BEACH, Fla.--July 28, 1998--Former United Nations Ambassador Gerald P. Carmen has joined the board of directors of 1-800-AutoTow(tm) (OTC Bulletin Board: AUTW), a publicly traded company that is rolling up America's fragmented vehicle towing industry into a national brand.
Carmen was appointed by former President Ronald Reagan to serve as the U.S. ambassador to the United Nations in Geneva during the mid 1980s. Currently, Carmen, 68, serves as vice chairman of The Carmen Group, the largest non-legal lobbying group in Washington D.C.
His credits also include president and chief executive officer of the Federal Asset Disposition Association (FADA) in 1989 and head of the General Services Administration (GSA) from 1981 to 1984. During his 10-month tenure at FADA, Carmen turned around the money-losing organization into one that operated efficiently without loss to the FSLIC insurance fund. FADA, the predecessor of the current Resolution Trust Corporation, was created to manage the distressed assets of failed Savings and Loans. The GSA is the 30,000 employee business arm of the U.S. government that provides goods, facilities and other services to federal agencies.
"Ambassador Carmen shares our vision and goals to build the largest and most respected vehicle towing company in the nation," said 1-800-AutoTow(tm) president Joel Nagelmann. "His extensive experience and relationships will help guide 1-800-AutoTow(tm) in its strategic moves and ongoing development."
The $15 billion vehicle towing industry is believed to consist of more than 36,000 towing companies nationwide, operating six to 10 trucks from a single location. 1-800-AutoTow is acquiring well-run vehicle towing companies in metropolitan areas across the country, and will consolidate their operations into a single branded identity.
The economies of scale resulting from consolidation allow for 1-800-AutoTow(tm) to implement operational and marketing strategies not generally used in the towing industry. These include professional driver training, fleet standardization, automated 24-hour dispatching using GPS (global positioning satellite) technology, the introduction of a dedicated sales force for local and national marketing, and benefits packages designed to attract and retain quality employees.
Similar consolidation efforts already have been proven in other industries, including video rentals, car dealerships, pharmacies, office supplies, waste removal, and courier, funeral and ambulance services.
1-800-AutoTow(tm) customers include motor clubs, car dealerships, police departments, individual car and truck owners, financial institutions, and commercial fleets for vehicle towing, transport, accident recovery and storage. Towing operators whose companies are acquired by 1-800-AutoTow are offered stock and cash, with most having the opportunity to stay on and grow with the company.
1-800-AutoTow, Inc. was founded in 1997 and is based in Boynton Beach, Florida. The company's management team consists of a diverse and experience group of entrepreneurs, senior operating executives and towing veterans. More information can be found on the company's website at www.1800autotow.com.