Corporate Planning For Economic Recovery Should Include Flexible Financing Options, Alerts Equipment Leasing Industry Leader.Business Editors CHICAGO--(BUSINESS WIRE)--April 10, 2003 Being Prepared Will Be Key for Predicted Upswing Upswing An upward turn in a security's price after a period of falling prices. in Economy The Equipment Leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
Revolutionary People's Struggle ) president, Michael Fleming Michael Valentine Fleming (1913 - 1 October 1940) was the son of Valentine Fleming and brother of Ian Fleming and Peter Fleming. He married Letitia Blanche Borthwick, daughter of Hon. Malcolm Algernon Borthwick and Blanche Buckland Gorrie, on 28 July 1934. , today asserted that there is pent-up demand for new equipment that will require companies to seek out more flexible financing to meet the demand. Since the U.S. economic climate has forced many companies to forgo refreshing their equipment, such as computers, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. and handling equipment, trucks and trailers, and construction equipment to name just a few, the consensus among equipment leasing industry members at today's annual ELA National Funding Exhibition is that aging assets and pent-up demand are reaching a critical point. "We already see a need for equipment, and the pent-up demand continues to grow," said Fleming. "As companies begin planning for the upturn predicted for later this year, we expect them to discover that the decision it isn't whether or not they can afford to acquire equipment needed to run their businesses, but rather how they are going to finance it." To underscore The underscore character (_) is often used to make file, field and variable names more readable when blank spaces are not allowed. For example, NOVEL_1A.DOC, FIRST_NAME and Start_Routine. (character) underscore - _, ASCII 95. the pent-up demand theory, the ELA reported in its March 2003 online quick poll that, out of 118 respondents, 61% say that once the uncertainties of the Iraqi war are over, their customers will begin ordering equipment. Just under 39% answered "no" to whether customers would begin ordering equipment. Respondents of the poll are considered primarily equipment lessors. At the Funding Exhibition today, attendees agreed that while expense management remains a theme among companies scrambling to continue to show profitability, equipment needs cannot go unmet un·met adj. Not satisfied or fulfilled: unmet demands. much longer. "The need for equipment forces businesses to find creative ways to finance equipment they need to stay alive," said Fleming. Said Darrell Harmon, President, Alliance Capital Resources, Inc., at the Exhibition, "Businesses cannot wait much longer to refresh (1) To continuously charge a device that cannot hold its content. CRTs must be refreshed, because the phosphors hold their glow for only a few milliseconds. Dynamic RAM chips require refreshing to maintain their charged bit patterns. See vertical scan frequency and redraw. their IT systems, their transportation fleets, and other critical equipment. With the themes of expense management and pressure to produce profits, companies will look to flexible financing methods, such as leasing, to allow them to move quickly and efficiently to acquire new equipment." Currently, eight out of 10 U.S. companies lease some or all of their equipment, taking advantage of leasing's 100 percent financing, quick credit approval, and convenient structure. Said Deborah J. Monosson, President, Boston Financial & Equity Corporation, "Firms across all industries will need to respond quickly to the economic rebound. Our shop is gearing up for high demand for leasing." Of the $697 billion spent by American business on productive assets in 2001, $216 billion, or 31 percent, was acquired through leasing. In 2002, that figure is estimated at $204 billion. The projected 2003 volume is $208 billion. "The time for finance planning is now," said Fleming. "Preparation will be key to taking advantage of growth opportunities once the economic upturn comes." Financial decision makers needing more information on leasing should visit www.LeaseAssistant.org, which provides information on how to choose a leasing company, the top 10 questions to ask before signing a lease, a glossary A term used by Microsoft Word and adopted by other word processors for the list of shorthand, keyboard macros created by a particular user. See glossaries in this publication and The Computer Glossary. of terms, and more. About ELA Organized in 1961, the Equipment Leasing Association (ELA) is a non-profit association representing companies involved in the dynamic equipment leasing and finance industry. ELA's mission is to promote the leasing industry as a major source of funds for capital investment in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. Headquartered in Arlington, Va., ELA has more than 800 member companies and a staff of 27 professionals. Equipment leasing is estimated to be a $204 billion industry in 2002. Visit ELA online at http://www.elaonline.com. |
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