If Credit Matters, Forum is a MustCED Magazine, August 2009
Article Date: 08-01-2009
Copyright(C) 2009 Associated Equipment Distributors. All Rights Reserved.
Perhaps the No. 1 culprit for the mess we’re in, credit ranks among the hot topics ablaze with news and analysis Sept. 10 in Chicago.
The absence of credit is killing deals, and dealers.The testimony given by Tim Watters at a hearing June 10 of the House Small Business Committee was a high-profile summary of what’s happening around the country.“Our customers have no work, so they need no machinery and we have no business,” said Watters, who is president and CEO of Hoffman Equipment Co., based in New Jersey, and AED’s northeast region director. “If we are lucky enough to find a customer who has work and is actually willing to purchase a new machine, we have difficulty finding him financing to allow the deal to happen.” In fact, Watters cited AED data that indicates dealers have lost approximately $720 million in sales because credit was unavailable.Every analyst and commentator writing on the economy today readily points to the availability of credit as an essential condition for economic rebound. When banks and finance companies start lending again, construction companies will go back to work, buying and renting equipment once again.The importance of credit is the reason the AED/QUALCOMM Executive Forum features an in-depth panel discussion with five experts who specialize in money issues within the construction equipment industry. Find out the current credit market status for contractor firms and dealerships on Sept. 10, and get all your questions answered.In addition, David Raso takes the stage at Forum to share his hot-off-the press market data and 2010 forecast to help dealers plan next year’s inventories. No. 1- ranked analyst for machinery stocks for eight consecutive years by Institutional Investor magazine All-America Research teams, Raso tells CED magazine he will also present his views on the credit scene.Money is the underlying subject of another essential panel dialog that day as experts in the M&A, turnaround and legal fields help you answer the question: “What Do You Need to Do: Buy, Sell or Save?” Every dealer principal must decide if the time is right to grow, prepare to sell, or turn around a downward spiral – know how to protect yourself in the process after an hour or so in the room with FMI’s Tony Perone, Brookstone’s David Felts, attorney Roger Stelle, and BDO Seidman’s Tony Wolf.New this year at Executive Forum: For the final 30 minutes, Thursday’s presenters and panelists – including all those mentioned above and more – will host corner roundtables where, replete with a bottle of scotch, you get to follow up with those who struck a chord during this loaded agenda. Stick around Friday morning for the customer panel when four fleet managers paint you a picture of their world, and how you can help.View the full line-up and save yourself a seat at www.aednet.org/execforum. Bring others from your company and save $200 each.
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