In the News - Industry Beat
Construction Equipment Distribution magazine is published by the Associated Equipment Distributors, a nonprofit trade association founded in 1919, whose membership is primarily comprised of the leading equipment dealerships and rental companies in the U.S. and Canada. AED membership also includes equipment manufacturers and industry-service firms. CED magazine has been published continuously since 1920. Associated Equipment Distributors
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In the News

CED Magazine November 2007

Article Date: 11-01-2007
Copyright(C) 2008 Associated Equipment Distributors. All Rights Reserved.

Bryan Rich, executive vice president and vice chairman of Sunbelt Rentals has announced his retirement after 31 years in the equipment rental business. Rich began his rental career with Logan Equipment Corp. in 1977, a company that was founded by his father, Frank Rich, in 1963. Bryan Rich was running his first rental location at age 20.

After purchasing a controlling interest in Logan from his father in the early 1980s, Rich grew the company into one of the leading rental and sales companies in the northeast, eventually selling the company to NationsRent in December 1998.

Rich left NationsRent in October 2000 to form Commonwealth National Bank, a public commercial national bank based in central Massachusetts. NationsRent filed for bankruptcy protection in 2001 and to avert what appeared to be a certain liquidation of the company, Rich and a partner formed Phoenix Rental Partners, raised additional funds from the Baupost Group and purchased NationsRent. Rich and the NationsRent management team brought the company out of bankruptcy in June 2003 and sold it to Sunbelt Rentals in August 2006.

Foley Rental Services, a division of Foley Inc., has named James Eyen a Foley Rents account manager for Bergen County. Eyen will be responsible for building long-term relationships with customers through all aspects of business applications including rentals, new and used equipment sales, and equipment service. Foley Inc. is a Caterpillar dealer covering north New Jersey, Staten Island and Bermuda.

Helac Corp., a manufacturer of a comprehensive line of hydraulic rotary actuators for OEMs and attachments for the construction equipment industry, has named Bill Power chief operating officer. He will oversee day-to-day operations of both product divisions, hydraulic rotary actuators for OEM applications and construction equipment attachments.

Ron Hodgeman has been named Accruit's in-house tax counsel and part of the company's executive team. Hodgeman has been actively involved with like-kind exchanges both as a tax advisor and as a qualified intermediary. Accruit is a qualified intermediary for 1031 Like-Kind exchanges and is AED's Preferred Provider of this service.

QUALCOMM Wireless Business Solutions (QWBS) has changed its name to QUALCOMM Enterprise Services (QES). The company reports it has been undergoing a business transformation over the past 18 months to become more agile and provide more added value with a higher level of service to customers. As a result, the company has shifted its name to better reflect the broadening scope of the division's product and service offerings.

Kris Foster has been appointed central region sales manager for Wells Fargo Construction. Foster and his team will work directly with dealers to provide them with financing, refinancing and revolving credit lines. Wells Fargo Construction is a division of Wells Fargo Equipment Finance.

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