Portable Sanitation Association International

Association Insight April 19 2017

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WEEKLY EDITION April 19, 2017 In Memoriam: Barry Gump The former CEO of Andy Gump passed away on Monday, April 17 at the age of 74. Barry Gump, who retired from the helm of Andy Gump just four years ago, passed overnight in his sleep on Monday. Barry celebrated Easter surrounded by family, and while he had recently recovered from a minor surgery, his death was unexpected to those who knew him. In the words of Tony Watson, friend and General Manager of Andy Gump, "I've never met anybody like Barry Gump. Andy Gump suffered a huge loss today, his friends and family certainly did, and the community did, as well. Barry is one of the most generous souls and the most humble person I've ever met." Barry took over the family business from his father, Andy Gump, in the 1970s and moved the company to Santa Clarita Valley in 1985. He had lived in Valencia ever since. Growth and Expansion: Are You Blinded by Risk? One of the more common quandaries we hear from portable restroom operators and people looking to get into the business is, "How do I know whether to expand?" It's not an easy question to answer. Of course it's never a good idea to buy equipment just because you like to shop – something most serious business people would never consider anyway. There is invariably number crunching involved. Unfortunately, even when all the numbers are in, there is seldom a definitive answer. What if I lose my big contract? What if the economy goes sour? What if [fill in your biggest worry here]? These are all important considerations, and it would be a mistake to make light of them. However, every businessperson sooner or later has to come to terms with when to take risks, and when to play it safe. So we thought Association Insight readers might be interested in some recent research on how business leaders' decision making can be affected by the perception of risk. CONTINUED ON PAGE 3 CONTINUED ON PAGE 2

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