CFO Takes Restructuring in Stride
Association restructuring is nothing new for David B. Barefoot, chief financial officer of American Trucking Associations.
The serious cutting started in 1990, after railroads came to fully understand the deregulation of their industry, which occurred when Congress passed the Staggers Act in 1980.
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During his 20-year career at the Association of American Railroads, Barefoot saw the trade group’s membership and budget shrink dramatically as the industry acclimated to deregulation.
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“The reason railroads were making money post-Staggers was by cutting costs and reducing staff size,” Barefoot said. “They looked at what they were doing in their companies, and they said their association should do the same.”
