2016-07-29 02:46:53
Network in Cincinnati
JOIN ELFA for a bases-loaded networking event on Aug. 17 organized by the ELFA Service Providers Business Council and open to all ELFA members, prospective members and guests. Th e agenda includes a business session on ELFA and the state of the equipment fi - nance industry led by Scott Kiley, Vice President, Fifth Third Equipment Finance. Following the business session, attendees will head to Great American Ballpark to watch the Cincinnati Reds take on the Miami Marlins. Learn more at www.elfaonline.org/cincy.
Focus on Technology
THE FUTURE is coming faster and faster, especially for operations and IT professionals. It’s critical to stay abreast of the latest technologies and operating methods, and be ready to integrate them into your organization. Attend the Operations & Technology Conference, Sept. 12-14 at the Hyatt Regency Baltimore Inner Harbor, to make sure you’re not left behind. Get up to speed on technology, soft ware and operation issues that impact equipment finance executives and their clients. Th is conference will give you the tools to succeed in shifting markets and ever-changing customer desires. For more information and to register, go to www.elfaonline.org/events/2016/OTC/.
Mark Your Calendar: Lease Accounting Conference
WITH THE RELEASE of the new lease accounting standard earlier this year, there's a lot to talk about at the ELFA Lease and Finance Accountants Conference, Sept. 12-14 at the Hyatt Regency Baltimore Inner Harbor. Sessions will include "A Conversation with the FASB & IASB: What's Next?"; "Transition, Practical Expedients: What Are the New Rules and How Do I Transition?"; "Vendor/Captive Issues Under the New Leasing Standard"; and "SEC and Banking Regulatory Update: Regulatory Implications of the New Leasing Standard." The agenda will also delve into a host of other accounting issues, from credit impairment to sale-leaseback and build-to-suit arrangements. To review the agenda, register for the meeting and make your hotel reservations, go to www.elfaonline.org/events/2016/LAC/.
Attention West Coast
THE NEXT ELFA Principles of Leasing and Finance workshop will be held Sept. 12-14 in Los Angeles. If you’re on the West Coast (or want to be for a few days), this workshop is for you. It has given more people their “professional start” in the equipment finance industry than any other training vehicle. There’s a reason this workshop has been around for 20 years. People return to their work environments better prepared to make significant contributions to their companies’ bottom line. To register go to www.elfaonline.org/POLSept2016. Questions?Contact Alexa Carnibella at acarnibella@elfaonline.org.
HONORING GRADUATES
CONGRATULATIONS to the graduates of ELFA’s June 2016 Principles of Equipment Leasing and Finance Workshop. Attendees representing a wide range of ELFA member companies met at Dilworth Paxson in Philadelphia, June 14-16, under the instruction of Bob Golden. The workshop teaches the fundamentals of personal property commercial equipment leasing and finance to entry level personnel and individuals with business experience who have not had a complete overview of the leasing and finance business.
ELFA Board Meeting Caps Off Busy Leadership Week
THE ELFA BOARD OF DIRECTORS met May 20 in Washington, D. C., to conclude a very busy week of association-related activities, which included the annual Capitol Connections grassroots program, a meeting of the Foundation Trustees and meetings of the association’s Business Council Steering Committees.
During the Board meeting, ELFA leaders deliberated over a number of high-priority items focusing on the strategic direction of the association and the ultimate goal of ensuring that ELFA programs, products and services are responsive and continue to deliver value to members. Among the key issues addressed by the Board were the following:
Treasurer Rob Boyer reported that the association is on target to meet its overall 2016 budget.
Nominating Committee Chair Bob Rinaldi reported on the committee’s progress in assembling a strong slate of candidates for Directors and Officers, which will be voted on by the ELFA membership prior to the Annual Convention in October.
ELFA President and CEO Ralph Petta and staff offered updates on a variety of association activities, including the Guest Lecture Program; federal advocacy outreach; state government relations activities; efforts to educate the membership and the general public about the new lease accounting standards; and the success of the association’s business and professional development events. Membership staff and Committee Chair Andrew Bender indicated that membership renewal is strong and has, in fact, already exceeded financial and statistical goals for the year.
Members of various issue-oriented work groups shared updates on a range of issues, including electronic documentation, managed solutions, ELFA membership policies and the Certified Leasing and Finance Professional program. The Board also received an update on the Emerging Talent Advisory Committee, representing up-and-coming staff within member companies.
Reports from the five Business Council Steering Committees indicated that each was actively engaged in a variety of activities designed to benefit their respective constituency groups within ELFA.
Foundation Chairman Bill Verhelle offered an update on the activities of the Equipment Leasing & Finance Foundation. He reported on discussions the Foundation Board of Trustees have had regarding expanding the mission of the Foundation. Among the initiatives being considered is expanding the charitable focus of the Foundation.
The Board meets next in October at the site of the ELFA Annual Convention in Palm Desert. Its Executive Committee conducts its summer meeting Aug. 1-2. Please contact ELFA Chairman Bill Stephenson or President and CEO Ralph Petta for more information.
ELFA Welcomes New Staff Member
SCOTT RIEHL has joined ELFA as Vice President of State Government Relations, effective June 1. Riehl will direct and execute all aspects of the association’s state government relations strategy, monitoring and engaging legislation and regulation impacting the industry in all 50 states. Riehl succeeds Dennis Brown, who will retire at the end of 2016.
Scenes from the Guest Lecture Program
ELFA MEMBERS have been hitting the road and presenting the Guest Lecture Program (GLP) at colleges and universities around the nation to increase awareness of equipment finance and attract new talent to the industry. Recent presentations have included:
Scott Thacker, Chief Executive Officer of Ivory Consulting Corporation, delivered the GLP at Wake Forest University.
Nathan Gibbons, Vice President at First American Equipment Finance, a City National Bank Company, delivered the GLP to students in the Undergraduate Finance Program at St. John Fisher College.
ELFA Executive Committee Members Bob Rinaldi and Tony Cracchiolo, pictured above, presented the GLP at the University of Virginia’s Darden School of Business.
Find out how you can get involved at www.elfaonline.org/GLP.
Staff Kudos
AT ELFA’S Q2 ALL-TEAM MEETING, ELFA President and CEO Ralph Petta recognized Kelli Nienaber, Executive Director of the Equipment Leasing & Finance Foundation (pictured at left), and Alexa Carnibella, ELFA Director of Professional Development, for 10 years of outstanding service.
WHEN IS THE LAST TIME you updated your ELFA profile? Keeping your company and individual information current helps ELFA to know you better so we can continue to offer programs and services that fit your needs. Log into the ELFA website, click on Account Tools in the upper right-hand corner and select Update My Information (for individuals) or Update Company Profile (for companies). Only the key contact of a member company may update the company profile. Contact membership@elfaonline.org if you have any questions or if you need assistance.
Calling All Emerging Leaders
THE EMERGING TALENT ADVISORY COUNCIL met in Washington, D. C., in May in conjunction with Capitol Connections. The Council is working to encourage industry employees to get involved in the association earlier in their careers and to attract the best and brightest to the industry. Don’t miss the Regional Networking Event for emerging leaders in Baltimore in September. For details, see www.elfaonline.org/ Events/Calendar/.
Tax Pros Gather
ELFA-MEMBER tax practitioners gathered in Miami on June 21–22 for the 2016 Tax Best Practices Roundtable sponsored by Vertex. The annual meeting focuses on federal and state compliance and planning issues, recent developments and sharing of internal best practices. For more tax resources, check out the State Tax Manual at www.elfaonline.org/resources/taxmanual/.
Congressional Visit
PACIFIC RIM CAPITAL, INC. hosted Rep. Mimi Walters (R-CA)—pictured at center—at their offices in Irvine, California, in May. Th e visit included a tour and a town hall event with all employees. Th is event gave the Congresswoman, who is serving her first term in Congress, an opportunity to learn more about the industry and about Pacific Rim Capital and its impact on the local economy. If you are interested in hosting your member of Congress at your office, please contact Richard Shanahan at rshanahan@elfaonline.org.
Communicators Convene
THE COMMUNICATIONS COMMITTEE met at ELFA headquarters in May. Participants discussed industry promotion, including ways to maximize the reach and effectiveness of the association’s Equipment Finance Advantage end-user website, as well as opportunities and trends in communications and marketing.
Why Follow ELFA on Twitter?
ELFA RECENTLY CELEBRATED a social media milestone: surpassing 2,000 Twitter followers. Looking to engage with colleagues and stay on top of breaking news and special announcements for equipmentfinance professionals? Follow ELFA on Twitter! Go to www.twitter.com/ELFAonline and click on the “Follow” button at the top of the page.
New Glossary Explains Equipment Finance from A to Z
ELFA’S EQUIPMENT FINANCE ADVANTAGE WEBSITE for end-users has an updated and expanded glossary! Be sure to check it out and share it with your colleagues and customers. Browse more than 130 terms related to equipment leasing and finance, from “accelerated depreciation” to “vendor leasing,” all updated to conform to the new lease accounting standard. Learn more at www.equipmentfinanceadvantage.org/ef101/glossary.cfm.
DATA GURUS MEET
THE RESEARCH COMMITTEE met at ELFA headquarters in May to plan the release of the 2016 Survey of Equipment Finance Activity. Learn about the report on p. 36.
ELFA Promotes Equipment Finance to Small Businesses
ELFA employs a proactive and multi-pronged campaign to communicate the value of equipment finance to end users. This spring, in recognition of the Small Business Administration’s National Small Business Week, May 1-7, the association issued a press release and shared on social media five important steps for small businesses to get started leasing and financing. If you are looking for information about equipment finance to share with your customers, check out www.equipmentFinanceAdvantage.org. Discover videos, articles, fact sheets, guidance on the new lease accounting standard and more.
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