4 EDITORIAL The best of the last 20 years Paulo Gaba Jr. Chairman of the Board of Directors - ABLA The world has changed, and so have the financial centers. Brazil has been through several economic plans and today’s world is completely different from two decades ago, and now the BRIC countries are the focus of growth. Inflation is under control in Brazil, the currency (the real) is strong, and we are grabbing global attention. When I joined ABLA almost 20 years ago the industry’s main challenge was pricing. I used to listen to relentless criticism of other companies practicing predatory competition through pricing. The rate was based on the competition’s price, with no other criteria whatsoever being considered. Inflation masked results and the focus was on price. In 2010, the vehicle rental industry had its best year, with the recovery of prices after decades of reduced rates. Only those who have a deep understanding of their business are able to price correctly, aware of their costs, commitments, risks and margins. I am very glad this has changed. And we can focus on managing our businesses, without focusing on the competition. This is certainly a result of the investment in training made by the sector, which is mature enough to grow and, especially, to PROFIT. This continued investment in company training has created a more mature and respected industry, which has contributed significantly to the automotive sector and the economy, resulting not only in record sales but also in job creation and tax revenues. Yes, 2010 was the best of the last 20 years for our industry, and investment in human capital has been vital in achieving this. I want to express my sincere gratitude to ABLA, which has ceaselessly insisted on courses and training, providing grants and information for its members, sowing the seeds for decades so that now we can reap the harvest. After 18 years as a member, I feel fit to drive the organization. Any relation to car rental is not just a coincidence. 2011 ABLA YEARBOOK
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