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Lloyd D. Rae
Expert Witness
Curriculum Vitae


With over 35 years of experience in the car and truck rental business as an owner and CEO of an on-airport car rental company at Los Angeles International Airport, I have worked as an expert witness for 16 years and have been retained over 58 times. I have opined in cases for both plaintiffs and defendants involving contract disputes, standard of care, business practices, maintenance practices, insurance coverages, franchise agreements and policy and procedures.

Professional Experience

July 1981- January 2001  T.C.L. Inc. dba Payless Car Rental Chief Executive Officer
    • Established and managed a car and truck rental company as a national licensee at Los Angeles International Airport.
    • Started with 67 cars with annual revenue of $500,000. Expanded the fleet to over 400 cars with annual revenue of $5,000,000.
    • Truck rental business, with a national licensee, local and one-way rentals.
    • Negotiated leases for office building and on-airport in terminal car rental concessions.
    • Obtained over $8,000,000 in lines of credit with four financial institutions for fleet financing of new and used cars.
    • Interfaced with accountants preparing financial statements and corporate attorneys on franchise agreements.
    • Handled $4-5,000,000 in accounts payable per year.
    • Managed 40 employees, 24 hours a day, 365 days a year.
    • Purchased approximately 300 new and used cars per year.
    • Determined the sale price for used vehicles and sold approximately 200 cars per year through local auto auctions.
    • Purchased all computer and software equipment for a multi-user system.
    • Sold the business in November 2000.
May 2001 – Present  Westchester Investments & Consulting Sr. Business Consultant