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In this Issue:
Contact the Foundation: Lisa A. Levine, CAE © Copyright 2005, Equipment Leasing and Finance Foundation. |
A Message From the Executive Director  Happy New Year! 2006 will bring many new exciting projects to the Foundation, and we are eager to share with you new findings, reports and news. Our fundraising efforts have already begun and we have received several kick-off donations to start the new year off right. This year you will often hear from me that no donation is too small to make a difference Ð an important message during an important time for the industry. The more donations we receive, the more critical questions we can get answered for the industry through our research. While 2006 should prove to be a good year for the industry, we know that lessors can never have too much intelligence on markets, industry trends,and opportunities and challenges on the horizon. We will dedicate our year to do more in that area, and hope you can help us to that end, too.
Lisa A. Levine, CAE Financial Support for 2006 Research Agenda Already Coming In  As most realize by now, the Foundation's products have doubled the body of knowledge available to equipment leasing and finance organizations through its work, and there is no other medium that independently seeks to study key issues facing the industry with an eye on the future Ð where the industry could be in three, five and ten years from today. Fortunately, the Foundation has been gifted by many generous industry members to make this happen. The Board of Trustees thanks each and every donor who has given over the years, as it is the donor community that ultimately is responsible for the more than $1.2 million of research projects. But, the Foundation's work is never done, which means our fundraising efforts never are complete either.
While donations are received throughout the year, the first donation received in 2006, as a "kick-off" to the new season, came from IBM Global Financing. Chuck Thomas, Director, Worldwide SMB Sales and Marketing for the group said about his organization's donation, "IBM Global Financing recognizes the important role the Foundation plays in supporting and promoting the equipment leasing industry. We look forward to continuing our active involvement with the Foundation." Read More: http://www.leasefoundation.org/positive/index.cfm?fuseaction=display_article&artID=5972 Donor spotlight Ð Jerry Mohr of Affiliated Financial Services  Jerry Mohr of Affiliated Financial Services, located in the northern San Diego community of Rancho Santa Fe, has seen many changes in the equipment leasing and finance industry during his 30 plus years in the business. His recent sizeable, individual donation should be a testament to how the industry needs an organization like the Foundation, he says. "We are always under siege in the industry from legislators and the IRS as well as FASB," said Mohr, which is why he believes the Foundation products continue to be an important part of the industry calling them useful tools to any company's strategic work.
Read More: http://www.leasefoundation.org/positive/index.cfm?fuseaction=display_article&artID=5973 Journal Article on True Leases Lauded  A recent article that addresses the issues around true leases has many industry members talking. The article, True Leases Under Attack: Lessors Face Persistent Challenges to True Lease Transactions, by David. G. Mayer, was published in a special Fall 2005 issues of the Journal of Equipment Lease Financing.
Addressing the growing concern about structuring lease transactions so they are clearly defensible as true leases, the article is meant to help lessors face the challenges brought on by an uncertain future for true leases. It raises all the issues that lessors need to contemplate when offering the true lease. The author doesn't predict what will happen, but rather raises several flags about what it means if certain changes occur. The intent of the article is to demonstrate to the industry how one might structure true lease transactions in a manner consistent with prevailing law and court precedent. Read More: http://www.leasefoundation.org/positive/index.cfm?fuseaction=display_article&artID=5974 Scholarship Program Being Developed The board of trustees is undertaking a scholarship and internship program initiative in 2006, as yet another example of the Foundation keeping its eye on the industry's future. Still in development, the scholarship and internship program will help identify and develop a diversified group of future leasing leaders through graduate study programs and scholarships. Watch for more information in future issues of Forecast.
New Resource Manual To Debut with 2006 Industry Future Council Report  The Industry Future Council (IFC) held their annual meeting this month. The IFC, comprised of the industry's brightest leaders, meets each year to discuss issues critically important to the industry from the challenges to the opportunities. IFC members identify issues that can impact the industry and engage in a freewheeling discussion about the near-term future of leasing. The resulting report, the Industry Future Council Report is an invaluable strategic and tactical tool. It offers a look at the influencing forces, variables and market-changing trends, that signal the pace and direction of the business for the next three to five years.
Read More: http://www.leasefoundation.org/positive/index.cfm?fuseaction=display_article&artID=5976 Foundation Happenings
Did You Know? "Despite their importance, true tax leasing guidelines under federal law and operating lease treatment under accounting pronouncements should not be used in determining the existence of a true lease for state law purposes. Lessors and lessees alike should understand that mixing terms and their related disciplines under tax or accounting principles increases the complexity, and, perhaps, the potential for true lease challenge." ~Excerpt from True Leases Under Attack: Lessors Face Persistent Challenges to True Lease Transactions, by David. G. Mayer, published in the special Fall 2005 issue of the Journal of Equipment Lease Financing.
About the Equipment Leasing and Finance Foundation The Equipment Leasing and Finance Foundation is dedicated to providing future-oriented research about the equipment leasing and finance industry. The Foundation accomplishes its mission through development of studies and reports and identifying critical issues impacting the industry. All products developed by the Foundation are donor supported and donors receive all products free of charge. Visit our website, www.leasefoundation.org for more information.
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