Five Truths for Capex Planning

摘要

We struggle with capital expenditures (capex) and capex budgets every year. It is invariably a long and complex process, and we often feel that things have not gone our way. We believe that we must spend a certain amount to maintain fleet average age and to grow. The president and the board of directors often feel differently: They do not want to spend as much on the fleet, they want to do other things with their money, and they frequently believe our requirements are not all that important.