Boomerang-ing stolen goods back home |
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| Canadian Business |
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| Business Reporter |
| 4/2/01 |
| New portable technologies can do more than streamline your work life or enhance your entertainment options. New tracking devices, for instance, that rely on cellular networks or satellite-based global positioning systems (GPS) to transmit their location, can go a long way towards easing your personal stress or, for corporations, improving your risk management. Car stolen? Paving machine or Bobcat missing? Not a problem if you have hidden a small tracking device, like the Boomerang, inside the vehicle. The Boomerang, from Montreal-based Boomerang Tracking Inc., is similar in size to a small cell phone, operates on cellular networks and, unlike GPS systems, can send a clear signal from inside garages, metal freight containers or from amidst tall buildings. Stolen vehicles are usually located within an hour of being reported stolen. Since speed is essential to prevent your vehicle beingstripped down for parts, a new version, Boomerang 2, will alert the netowrk if the vehicle moves without your key in the ignition. In Quebec, where Boomerang has been available for two-and-a-half years, 32 insurance companies now require that Boomerang be installed in high-end or high-risk vehicles. In Ontario and BC, where Boomerang is now also available, the insurance mandate is not yet so widespread but Boomerang''s director of marketing, Linda Farha is hopeful it soon will be. "We have a 95% recovery rate," she says. "If we don''t find the vehicle, the insurance company will cover the costs and we''ll reimburse the costs incurred for installation." So far, Boomerang has recovered $43 million worth of stolen property - including cars, heavy equipment, boats and recreational vehicles. |
| BoomerangŪ is a registered trademark of Boomerang Tracking Inc. It's headquarters are located in Montreal, Quebec. Boomerang products are sold and distributed in the provinces of Quebec, Ontario, British Columbia and in the Dominican Republic. Boomerang Tracking Inc. shares are traded on the Toronto Stock Exchange (TSE) under the trading symbol "BMG". |