[Healeys] Trailering/AAA Flatbed Danger

[Alan Seigrist]

John -

As an insurance company, they don't have to follow standard GAAP accounting
procedures.  They do need the cash and equivalents to operate properly as an
insurance company, but they won't necessarily be non profit except according
to the rules they are supposed to follow.  It's all a bit of a bait and
switch, but to be fair, they need the cash on the books for their insurance
business.  Are they really a non-profit?  Who knows.

With google maps and Garmin, I guess the only AAA benefit these days is the
towing, but honestly if I'm somewhere around my hometown neigborhood, towing
insurance is far better than AAA because I can specify the tow company and
ask for a flatbed tow.

Alan

'52 A90
'53 BN1
'59 Jag Mk IX
'64 BJ8


On Tue, Dec 1, 2009 at 12:10 PM, john spaur <jmsdarch at sbcglobal.net> wrote:

> I switched to National Automobile Club quite some time ago and they have
> been great!
>
> BTW, The California AAA reported over $3,500,000,000 in stocks and cash and
> cash equivalents in three years (2001-2004) I do not understand how they can
> be a non-profit and change so much. I had them for nearly 30 years and quit
> because they are expensive.
>
> John