FOUNDATION NEWS By Chelsea Neil Foundation Donors Set the Stage for 2016 T HE EQUIPMENT LEASING & FINANCE FOUNDATION is funded entirely through charitable gift s from generous companies and individuals. We rely on this support to achieve our mission of inspiring thoughtful innovation and contributing to the betterment of the equipment fi nance industry. CORPORATE FELLOW ($20,000) CIT DLL Wells Fargo Equipment Finance CORPORATE BENEFACTOR (10,000+) Banc of America Leasing Bank of the West Caterpillar Financial Services Corporation CHP Consulting Element Financial Corporation Equipment Leasing and Finance Association EverBank Commercial Finance, Inc. Farm Credit Leasing Services Corporation Fift h Th ird Equipment Finance Company Financial Pacifi c Leasing, Inc., an Umpqua Bank Comp First American Equipment Finance, a City National Ba FirstMerit Equipment Finance, Inc. Genpact, LLC Hitachi Capital America Corp. Huntington Equipment Finance International Decision Systems John Deere Financial Key Equipment Finance LeaseTeam, Inc. Odessa Technologies, Inc. PNC Equipment Finance, LLC Siemens Financial Services, Inc. U.S. Bank Equipment Finance CORPORATE SUSTAINER ($5,000+) Banc of California BB&T Equipment Finance BMO Harris Equipment Finance Company Bridge Capital Leasing Inc. BTMU Capital Leasing and Finance, Inc. CapitalSource, Inc. Citizens Asset Finance, Inc. Dell Financial Services Deloitte Eastern Funding LLC Fleet Advantage, LLC Harvard Partners LLC IBM Global Financing LEAF Commercial Capital Inc. Marlin Leasing Corp. MB Financial Bank In 2015, the Foundation received contributions of over $660,000. We are grateful for your confidence in our products and programs. As we explore new off erings to better serve our growing audience, we will con-tinue to produce the high-quality, future-focused industry research that has become the hallmark of the Foun-dation. In fact, coming soon will be a new study report on lender fi nance, followed by a handbook resource on how use economic data reports to en-hance your decision making process. Plus, the summary report from the Foundation’s annual Industry Future Council meeting, which brings to-gether industry leaders from around the country to discuss trends, future opportunities and challenges in the industry, will publish in March. Th ank you for your investment in the future of the equipment leasing & fi nance industry! CORPORATE AMBASSADOR ($50,000) GE Commercial Finance For more information on these recent publications and other resources, please visit www.leasefoundation.org Articles in the Journal of Equipment Lease Financing are intended to offer responsible, timely, in-depth analysis of market segments, finance sourcing, marketing and sales opportunities, liability management, tax laws regulatory issues, and current research in the field. Controversy is not shunned. If you have something important to say and would like to be published in the industry’s most valuable educational journal, call 202.238.3400. J ournal CONNECT WITH THE FOUNDATION VOLUME 33 • NUMBER 3 • FALL 2015 2016 Equipment Leasing & Finance U.S. Economic Outlook State of the Equipment Finance Industry O F E Q U IP M E N T L E A S E F IN A N CIN G 2015 Competing in a Changing Market Equipment Finance Market Forecasting By Blake Reuter It is often assumed, but has never really been confirmed, that capital equipment spending (capex) is a driver of equipment finance volume. This article helps validate that assumption and, furthermore, demonstrates that equipment finance volume can be forecasted over the short term using capex and statistical regression techniques. TRAC Vehicle Leasing By Edwin E. Huddleson Terminal rental adjustment clause (TRAC) vehicle leasing is the most popular means of leasing cars and trucks to commercial end-users. Occasionally, criticism and litigation still challenge the true lease status of vehicle leases. This article summarizes the legal and public policy rationale for the TRAC/state laws and demonstrates that the majority of court decisions now recognize the true lease character of these transactions. The Equipment Leasing & Finance Foundation 1825 K Street NW Suite 900 Washington, DC 20006 202.238.3400 www.leasefoundation.org Equipment ABS Today: New, Improved! By Stephen T. Whelan Securitization of equipment leases and loans is on the upswing. Transaction volume has jumped over the last two calendar years. Moreover, delinquency performance has improved. Based on a recent Foundation study, this article evaluates some potential threats to continued growth of equipment asset-backed securitization. Copyright © 2015 by the Equipment Leasing & Finance Foundation • ISSN 0740-008X EDITORIAL BOARD 54 JANUARY/FEBRUARY 2016 EQUIPMENT LEASING & FINANCE MAGAZINE