Denver Limos

Denver Limousine Service Launches new entity to combat economic challenges

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) June 24, 2009 –
June 24, 2009 — With the challenges of our current economic environment, it’s little wonder that many corporations have contemplated plans to change corporate structure. In many cases shareholders can extract better value from a group with a diversified business

base.

To this end, Denver, Colorado based Corporate Choice Limousines management has developed and implemented a comprehensive restructuring program with the main aim to simplify the complicated structure of the CCL group and improve transparency. The interim stage of this project was completed in August 2008, when Company CEO, Andrew Pancroft, established a wholly seperate entity, changing focus from a Colorado “S” Corporation to an “LLC”. Subsequently, on January 1, 2009 Consolidated Livery Specialists, LLC officially began operations.

The principal benefits of the restructuring process were:

Reduce the number of legal entities, streamline business processes and reduce costs.

Improve transparency to enhance corporate governance.

Facilitate clear management information for optimal decision-making.

Ensure fair treatment of client needs in a transparent manner.

The damage done to Corporate Choice Limousines by increased operational costs and the recent trend toward decreased pricing in the market has necessitated the need for improved cost management and restructuring. While aligning the vision of the new entity with economic constraints placed on clients, the goal of the CLS accession is to develop services and pricing that conform to requirements of current users of luxury chauffeured transportation.

Plans for introduction of the new entity included several steps. In August 2004 two important steps were successfully implemented: firstly, formation of Consolidated Livery Specialists, LLC. Secondly, implementing plans for the winding down of Corporate Choice. With the successful January 1 launch of of this new entity, Consolidated Livery Specialists intends to capture market share through aggressive pricing and a strategic business model.

Andrew Pancroft, CEO of CLS Denver, admitted mistakes had been made in previous operations; “Review of the strategic shape of operations came too late after the influx of former cab operators jumping into the luxury trasnportation market with inferior, cut-rate offerings.” CLS Denver’s new operations provide company management better opportunity to track industry trends and market fluctuations.

Thus far, in 2009, the accession and operation of the new entity have a resulted in an increase of 11% over 2008 first quarter revenues of the Corporate Choice operations.

With the approaching close of its second quarter operations, CLS, Denver will evaluate its existing organizational structure and consider whether CLS as a whole would benefit from the accession of certain other operations.

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