The 32nd Annual What’s Hot/What’s Not: Equipment Market Forecast 2022 from the Equipment Leasing and Finance Association (ELFA) reveals industry perceptions of 15 equipment markets based on a survey of 85 ELFA members. The survey results point to construction, trucks/trailers, medical, machine tools and hi-tech/computers as the leading sectors for the year ahead, according to portfolio preference.
Authored by Carl Chrappa of The Alta Group, the report is designed to assist equipment finance organizations in identifying business opportunities for future success. The results of the 2022 Forecast Survey reveal the following overall ranking of equipment types for portfolio preference among ELFA members. These rankings are based on the amount of future financing volume (un-weighted) and the best and least favourable future equipment financing opportunities (weighted).
1. Construction
2. Trucks/Trailers
3. Medical
4. Machine Tools
5. Hi-tech/Computers
6. Containers/Chassis
7. Rail
8. Marine/Intercoastal
9. Automobiles
10. Tie: Aircraft, Plastics
12. Telecom
13. Oil/Gas/Energy
14. FF&E
15. Printing
“The market forecast is consistently among ELFA’s widest read research,” said Ralph Petta, ELFA President and CEO. “The results of the 2022 Forecast Survey reveal that equipment managers and equipment finance companies are decidedly more optimistic in their equipment outlooks, which should bode well for the industry this year.” Visit the ELFA Knowledge Hub at www.elfaonline.org/knowledge-hub/most-popular to access the full results, including: The report, including an analysis of the rankings, an infographic with key takeaways from the report.
ELFA Announces Charles W. Cross Will Receive 2022 David H. Fenig Distinguished Service in Advocacy Award
The U.S-based Equipment Leasing and Finance Association (ELFA) has selected Charles W. Cross, Senior Lead Counsel at Wells Fargo, to receive its 2022 David H. Fenig Distinguished Service in Advocacy Award. The award honors individuals who have made significant contributions to the association’s advocacy efforts to promote sound public policies for the equipment finance industry. Cross will be formally recognized at ELFA’s Capitol Connections event on Wednesday, May 25.
ELFA President and CEO Ralph Petta said, “We are pleased to recognize Chuck Cross for all he has done to advance ELFA’s advocacy agenda. As the leading advocate for the equipment finance industry, ELFA plays a critical role in making sure our industry’s voice is heard by elected officials. We would not be successful without the leadership and commitment of members like Chuck.”
“I am honored to be the recipient of this award and accept it in large part as a proxy for all of the folks in ELFA that have given this industry their time, knowledge and experience on so many legal and regulatory issues at all levels of government over the years,” said Cross. “It has been a pleasure working with the ELFA staff (and most recently Scott Riehl) and my colleagues at companies and law firms across the country to formulate and present industry viewpoints for the benefit of all of our members. It is a privilege to work with government officials to accurately identify and define issues, provide useful information and context, and, when necessary, assist in formulating reasonable, responsive and well-crafted laws and regulations.”
Cross is recognized for his extraordinary contributions to the association’s state advocacy program. He has assisted the industry in promoting its policy objectives in a number of ways, most notably through providing analysis and guidance to ELFA, its membership and specific issue workgroups. In addition, his willingness to assist ELFA state negotiations has been invaluable to the association’s success on the critical issue of state financial disclosure requirements. Cross has led the industry’s efforts promoting the important interests of ELFA members through the regulatory process. In doing so, he has led the drafting of more than 11 sets of ELFA regulatory comments between California and New York over the last three years.
Cross has been engaged with ELFA for more than three decades. He attended his first ELFA Legal Forum in 1985, has served two 3-year terms on the ELFA Legal Committee and has been active in a number of association committees and subcommittees, including his current membership on the State Legislative & Regulatory Subcommittee of the Legal Committee, which provides advice and support to ELFA State Government Relations staff in evaluating and responding to state legislative and regulatory issues relating to the equipment finance industry.
In addition, Cross has been as an information resource for ELFA members regarding a range of issues impacting the equipment finance industry, making numerous presentations at ELFA Legal Forums and other industry events. He also has contributed articles to industry publications and was a Contributing Editor and author of “Equipment Leasing” in Banking and Lending Institutional Forms, published by LexisNexis A.S. Pratt, including forms and commentary for small ticket, major market, aircraft and municipal leases.
Cross is currently Senior Lead Counsel at Wells Fargo, where he has been employed for the past 11 years. He has worked exclusively in the equipment finance industry for over 30 years in senior counsel or general counsel positions at bank-related and independent equipment finance companies including Fleet Capital Corporation, BTM Capital Corporation and Key Global Finance.
The David H. Fenig Distinguished Service in Advocacy Award is named for ELFA’s former Vice President of Federal Government Relations, David H. Fenig, who served as an accomplished and tireless advocate on behalf of the equipment leasing and finance industry from 2004-2011.
Equipment Leasing and Finance Association Appoints Jeff Quigley as Vice President of Finance & Administration
The Equipment Leasing and Finance Association announces that Jeff Quigley has joined the organization as Vice President of Finance & Administration, effective March 31. Quigley will oversee the association $B!G (Bs finances and treasury operations as well as the daily administrative and operational requirements of the organization. Quigley brings 25 years of public accounting experience to ELFA. He progressed from Staff Auditor to Audit partner at the DC-based firm Tate and Tryon, which specialized exclusively in nonprofit organizations. In addition to serving a diverse portfolio of nonprofit organizations, Quigley conducted a wide variety of consulting engagements from internal control analysis to mergers and acquisitions. In addition to writing articles and conducting staff training, he was responsible for the automated audit process: monitoring, testing and implementing emerging technologies.
Quigley concluded his public accounting career at RSM after its acquisition of Tate and Tryon. He earned a B.S. in accounting from Virginia Tech. Quigley succeeds Paul Stilp, who recently retired after serving as a member of the ELFA staff for 18 years.
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