Pick up the latest issue of one of the common leasing journals and look at the losses being incurred by lessors of all shapes and sizes. It’s ugly.
Read the headlines from just the past few weeks, which include Tygris Financial being sold to EverBank in a stock for stock acquisition and CIT filing for Chapter 11 bankruptcy. Yes indeed, equipment leasing is a dying breed.
NO WAY.
I think that most of us who have been blessed to work in this industry long enough believe the following will occur:
1. Despite accounting changes forthcoming in the next few years, leasing will still remain as a key form of financing of capital equipment for businesses of all sizes. Will we be selling differently and bringing new value to our customers? The answer is yes, we certainly will. It might even be fun.
2. Despite a terrible economic environment, those lessors that “stay the course” and make wise investment decisions will endure and come out of this as leaner, smarter companies.
3. We are a resilient bunch, and those companies that bring continued innovation and new services to the leasing community will be rewarded.
Leasing isn’t doomed. Smart people, creating new products and services for a new era of leasing will continue to help make our industry the great place it is for both ourselves, our coworkers and the customers we serve.