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Leasing Industry Remains Optimistic Despite New Business Contraction in 2002
The Equipment Leasing Association has released its 2002 Survey of Industry Activity (SIA) report results, which reveal that the $208 billion equipment leasing industry followed the trend line of most industries in the challenging 2002 economic times. Respondents to the latest ELA survey experienced a year-over-year contraction, as respondents reported more than $117.2 billion in new business volume in 2002. Overall new business volume was reported as $114.6 billion in 2001; however, survey participants providing both 2001 and 2002 new business volume showed a 4.6% decrease year over year. Portfolio performance remained steady, however, with 96.3% of average receivables current (less than 30 days past due). Average receivables in 2001 reported at 97%. The annual SIA provides key statistical, financial and operation information for equipment leasing and finance organizations that are members of ELA.
Commenting on these results, ELA Chair Ed Dahlka, President, LaSalle National Leasing Corp. stated, “industry leaders would agree that the last two years' down cycle was severe, yet most players are optimistic about the future.” Looking forward, Dahlka added that “next year, 2004, will be a key recovery year and the leasing industry has much to look forward to as they focus on operational discipline and excellence.”
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Bankruptcy Sales: Finding a Diamond In the Rough
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Bit Parts
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“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.