How 5 Small Firms Handle High Gas Prices
NEW YORK (TheStreet) -- Small-business owners with fuel as a major expense are being forced these days to get more efficient. And most say that's not a bad thing.
Surging gas prices have topped the news for weeks as gas prices have crept toward $4 a gallon, with some bearish experts speculating we could see $5 per gallon by the summer.
The unrest in the Middle East, causing crude oil to top $100 a barrel, as well as the United States' reluctance to so far tap its strategic reserves, has been hitting consumers and large and small businesses in the gut.
But several small businesses say that as much as soaring gas prices cut into the bottom line, they're doing everything they can not to raise prices -- yet.Those initiatives include routing optimization, using more fuel efficient cars and trucks, considering other fuel alternatives and, in at least one case, using hedges to offset rising costs. "It definitely makes us look at every line item on the balance sheet and where we can trim," says Melissa Adelaine-Supernault, a partner and project coordinator at Michigan's Adelaine Construction. "It's constantly a balancing act. [We're] being as efficient as we can, but not jeopardizing our offerings to our customers." TheStreet spoke with five small companies for which fuel is a major expense and asked how they're handling the problem.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV