|Message From The Executive Director|
I am looking forward to seeing everyone in San Antonio later this month at ELFA’s 50th Annual Convention. In particular, I am eager to say hello to the Foundation’s generous supporters. I hope you stop by the Foundation booth, as we have many new exciting projects to announce, from the 2011 State of the Equipment Finance Industry to special reports on cloud computing and accounting. In fact, we have record number of studies in progress – seven! –this season.
Regardless of whether or not you are attending the convention, did you know you could also follow us on Twitter (@leasefoundation) and get our updates by “liking” our Facebook page? Join us in person or online for the latest news and research.
Kelli Jones Nienaber
|Monthly Confidence Index Shows Dip In Optimism|
The September 2011 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), issued by the Foundation, showed another decline in confidence. Overall, confidence in the equipment finance market was 47.6 in September, a drop from the August index of 50.0. The index clearly indicates continuing concern with global economic conditions and their impact on the industry.
Depending on the market segment represented, executives reported differing points of view on the current and future outlook for the industry when polled.
“This industry is not the issue; the uncertainty and inconsistency in the global economy are the concerns,” said an executive in the bank and large ticket space.
|Record Number of Studies Issues This Fall|
This Fall seven new Foundation studies will be issued, setting a new record for the number of projects debuting in one season. Many of the new studies will be first available at the Equipment Leasing and Finance Association’s 50th Anniversary Convention in late October.
“More than $400,000 worth of research investment will be represented in new studies this year,” said Kelli Nienaber, the Foundation’s Executive Director. “An individual company could never invest this much or cover such a diverse set of topics on their own. Thanks to our generous contributors, an individual company doesn’t have to go without, either.”
|Foundation Fundraising Ahead of Goal|
The industry’s leaders continue to show their foresight and support by contributing to the Foundation. At publication time, the Foundation’s development committee had reached 115 percent of its goal in campaign pledges.
"Obviously there is demand for our work," explains Foundation Development Chair, Valerie Jester of Brandywine Capital Associates. " In times when our business climate lacks consistency, the more research we can provide the more our industry can use these lessons to navigate the challenges to come."
|State of the Equipment Finance Industry Report Imminent|
The highly-anticipated State of the Equipment Finance Industry study, prepared by Financial Institutions Consulting, Inc. (FIC) will make its debut at ELFA’s 50th Annual Convention later this month.
Convention attendees will not want to miss the dedicated breakout session on Monday, October 24, where the study’s findings will be presented, including the forecast of the industry’s size in 2011.
|Foundation Grows Presence at ELFA 50th Annual Convention|
Each year the Foundation has a strong presence at the ELFA Annual Convention. This year will be no exception.
To start, on Monday, the annual contributor Recognition Luncheon, sponsored by PayNet, will be held. Foundation donors are formally recognized and thanked on stage at the event. (It is not too late to be part of the industry leaders who will be called to the stage. Get your contributions in today!)
Speaker Garrison Wynn of Wynn Solutions, also will speak on how to develop one’s individual success formula.
|Submit A Research Article for the Journal|
The Journal of Equipment Lease Financing is the official publication of the Foundation and is the only peer-reviewed journal in the industry. It focuses on publishing leading research across all the major topics of equipment finance.
Each issue of the Journal, reaches more than 10,000 industry participants, academics, finance professionals, libraries, government and financial institutions around the country, and it is the most widely used and cited Journal in equipment finance today. Publishing opportunities give authors an opportunity to be heard and receive recognition among industry peers. So, if you have ever considered writing for the Journal or submitting an idea, there has never been a better time to do so.
- The Foundation is 100 percent supported by donations. Contributions to the Foundation may be made online! Visit the Giving page to make your contribution today.
- The Foundation Board's next meeting will be November 15th - 16th, 2011.
- The Foundation's Research Committee next meeting is on October 20th, 2011.
- The Foundation is always looking for research ideas and proposals! For more information on applying for grants, visit our website. Make sure to submit your research grant application or topic to the Foundation by the first of the month to be reviewed in the timeliest fashion.
|Last Month's Poll|
Last month’s quick poll question was “Does your company engage in ongoing business process improvement?”
No, we don’t engage a formal
Yes, we use or have used lean
Yes, we use or have used
Yes, we use or have used other BPI tools and processes
(not listed here)
Question: The forecasted investment in equipment financing and leasing in 2010 was $521 billion. In 2011, it will:
- Increase to between $525 and $600 billion
- Increase to more than $600 billion
- Will not increase, but rather remain around the current $521 billion
To Submit Your Answer Click Here
|Did You Know?|
Many banks now view equipment finance as a growth priority, a turnaround from just a year ago. According to interviews for the 2011 State of the Equipment Finance Industry study, in many cases, senior bank executives see their equipment finance groups as one solution to increase earnings while, also shifting the commercial banking culture to a greater sales emphasis.
(Source: 2011 State of the Equipment Finance Industry)