For a limited time, Volvo Rents is offering a free Construction Spending and Population Growth report for your market. These reports are free and are delivered without obligation. Please limit reports to one county or MSA per request. Call or click to request your market’s construction spending report.
1-866-387-3687 / askrents@volvo.com
Hurry -- Offer expires December 31, 2009
This research data is provided by independent analysts at Info Tech Marketing, a market research firm based in Littleton, CO. In addition to providing historical data, the forecasts encompass the latest data on construction employment and spending, building permits, government forecasts, and private projections.
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Headline News
Deere Reports $222 Million 4Q09 Loss
November 30, 2009
Deere & Co. last week announced a worldwide net loss of $222.8 million, or $0.53 per share, for the fourth quarter ended Oct. 31, compared with net income of $345.0 million, or $0.81 per share, for the same period last year. Affecting fourth-quarter 2009 results were charges of $364.8 million pretax and $321.8 million after-tax, or $0.76 per share, because of the previously announced impairment of goodwill related to the John Deere Landscapes reporting unit and voluntary employee-separation expenses associated with the formation of the new agriculture and turf division. Without the items, earnings for the quarter would have been $99.0 million, or $0.23 per share.
Upstate New York Rental Company Liquidating
November 30, 2009
C&B Rent-All, Watertown, N.Y., is conducting a “going-out-of-business” sale and liquidating its assets, the Watertown Daily Times reported online. The business, which opened in 2002, was hurt by the slow construction business in the area and lack of customer demand.
ARA Unveils New Market Monitor Service
November 30, 2009
The American Rental Association last week announced the launch of the State of Equipment Rental Industry Outlook 2009-2014 Market Monitor service. This online subscription-based program, exclusively available to ARA members, provides subscribers with the latest economic information regarding the equipment rental industry compiled by economic forecasting firm IHS Global Insight. The information is updated quarterly.
International News
Ramirent Net Sales Drop 30 Percent in Third Quarter
November 30, 2009
Helsinki, Finland-based Ramirent, a rental company with branches in 13 countries, posted a 30.8-percent net sales decrease in the third quarter of 2009. Net sales for the period were €129.5 million (about U.S. $195 million), compared with €187.2 million for the same period in 2008. For the first nine months of 2009, net sales dropped 29 percent to €376.3 million. The decrease was 22.4 percent at constant currency.
Speedy Drops 27.9 Percent for Six Months
November 30, 2009
Revenue for Speedy Hire dropped 27.9 percent for the six months ended Sept. 30, posting £184.8 million (about U.S. $308.1 million), compared with £256.4 million for the same period a year ago. The U.K.’s largest rental company posted an adjusted loss before tax of £4.8 million (about U.S. $8 million), compared with £23.8 million profit a year ago.
Wynne Systems Names Project Manager for Europe, Middle East and Africa
November 30, 2009
Wynne Systems, international provider of enterprise software for the rental industry, last week named Erwin Luijten senior project manager for the company’s Antwerp, Belgium, office. Luijten has more than a decade of experience in ERP implementation management.
Atlas Copco Appoints New Distributor in Botswana
November 30, 2009
Atlas Copco recently appointed Parts Sales Botswana as a distributor of Atlas Copco Road Construction and Construction Tools equipment in Gaborone, Botswana, where major infrastructural developments including an extensive road network upgrade, the construction of two dams, an extension of the power station, hospitals, stadia and the massive upgrade of the Sir Seretse Khama Airport are all underway.
New Holland Wins Italian Army and Fire Brigade Tenders
November 30, 2009
New Holland Construction last week announced it has won the majority of the biggest tender ever promoted by the Italian Army for construction equipment applications.
Wall Street Beat
The Stock Block
November 30, 2009
Check in on some of the latest stock prices for publicly traded rental companies and popular construction equipment and general tool manufacturers related to the rental equipment industry.
Supply Side
Generac and Fiat Announce Strategic Partnership for Diesel Engines Supply
November 30, 2009
Generac Power Systems, a manufacturer of standby and portable power generation equipment and Fiat Powertrain Technologies last week announced a strategic partnership. Beginning in 2010, FPT will supply Generac with a wide range of industrial diesel engines for use in gensets with outputs ranging from 60 to 350 kW. The FPT engines are designed to increase productivity and greatly reduce engine operating costs.
Hilti Ranks Fifth in "50 Best Companies to Sell For"
November 30, 2009
Hilti last week announced that for the fifth straight year, the corporate research team at Selling Power identified it as one of the best manufacturing companies to sell for. Hilti finished eighth in the magazine’s annual “50 Best Companies to Sell For,” a comparison and evaluation of the largest U.S. sales forces.
Makita Receives The Home Depot's 2009 Marketing Innovation Award
November 30, 2009
Makita U.S.A. last week announced it was awarded The Home Depot Marketing Innovation Award. The award was presented to Makita Industrial Power Tools at The Home Depot’s Annual Supplier Partner Meeting in Atlanta.
Bricks & Clicks
Terex Launches Expanded Web Portal for North American Construction Distributors
November 30, 2009
Terex Construction now offers its North American distributors a single website — the Terex Construction Portal — to accommodate all their distribution needs, including sales, marketing, parts, service and warranty.
Interviews
Info at their Fingertips
November 30, 2009
RER conducted a series of interviews for our October issue on software technology and has been publishing a number of them in RER Reports. The sixth installment is with Rob Ross, president of Alert Management Systems, based in Colorado Springs, Colo. Ross discusses a whole slate of new products offered by Alert, and takes a look at trends to come. Ross was interviewed by RER’s Michael Roth.
Classifieds
November 30, 2009
• Volvo Rents -- General manager position in York/Harrisburg, Pa.
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Monday, November 30, 2009
Saturday, November 14, 2009
shows
ARAM Show
Save-The-Date:
ARAM Vendor Night 2009 - November 18, 2009
Holiday Inn in Marlboro, MA
ARA of CT Show
Save-The-Date:
ARA of CT Vendor Night 2009 - November 19, 2009
Elks Lodge #771 in Middletown, CT
Save-The-Date:
ARAM Vendor Night 2009 - November 18, 2009
Holiday Inn in Marlboro, MA
ARA of CT Show
Save-The-Date:
ARA of CT Vendor Night 2009 - November 19, 2009
Elks Lodge #771 in Middletown, CT
NER, NIS & The Hartford
We have a unique partnership with the National Equipment Registry. If you are insured with us we will waive your deductible on all equipment registered with the NER.
Recently, this saved one of my insureds $2,000.00.
Click here to register your equipment today!
Recently, this saved one of my insureds $2,000.00.
Click here to register your equipment today!
How to Save Money on Insurance
Raise Your Deductibles and Lower Your Premiums!
When you raise your deductibles you're volunteering to pay more every time you have to file an insurance claim. When you're paying more they're paying less, and every insurance provider in the country is going to reward that fact by offering to save you money on your insurance.
When you raise your deductibles you're volunteering to pay more every time you have to file an insurance claim. When you're paying more they're paying less, and every insurance provider in the country is going to reward that fact by offering to save you money on your insurance.
Article Featured in Commercial Dealer
Don't automatically assume you're protected. According to one national survey, nearly 60 percent of businesses are seriously underinsured. In the event of a major claim, the survey showed that the underinsured could find that the upper limit of their policy payout is 20 percent less than what they need in today's market.
Just because you have an insurance policy, doesn't mean you have the right one. The difference between the right policy and the wrong one could cost your business hundreds of thousands of dollars if your insurance coverage is not adequate. When a loss happens, you need help - what you don’t need is to learn that there is no coverage to recoup your losses. The best time to get educated is now, before that scenario occurs.
The Coverage You Need
Unlike other businesses, there is no standard policy for your industry. The rental and equipment dealer has various unique risks and coverage needs that need to be individually evaluated for the proper insurance coverage. There are several factors that you should consider when insuring your business.
• Make sure you are insured with a specialist. Don’t insure your business with someone who doesn’t know your industry. Just because your brother-in-law sells home owner policies doesn’t mean that you should let him write your insurance. You may be doing him a favor and not yourself. Seek out someone who understands and works in the industry and can provide you the maximum coverage available.
• Choose financial strength and stability. Make sure you are with an A+ rated insurance carrier from A.M. Best. You can find out how your current insurance carrier is rated at http://www.ambest.com/. This rating system shows a client what a company’s financial strength is and its ability to meet their obligations. Remember, an insurance program is only as good as the company that stands behind it. Be cognizant of the inferior choices out there that may leave your business vulnerable.
• Customized coverage. Again, it is imperative that you have an insurance policy tailored your business needs. This must include your unique coverage needs such as conversion, in transport, equipment breakdown and off premises. Do your research and make sure your policy covers these areas.
• All lines of insurance. When picking your insurance carrier, make sure that they cover all lines of insurance. This means that their policy includes but is not limited to property, general liability, auto coveragevand workers compensation. Placing all of your insurance coverage with one carrier provides you with easier claim handling and decreases your chance of having gaps in your insurance coverage from one carrier to the next.
Ultimate Service
In an industry that caters to the needs of a diverse group of rental customers, it is fundamental to provide high-quality service. Whether they are renting party goods or homeowner and contractor equipment, your customers rely on you to provide high-quality equipment in good working condition – when they need it.
With that in mind, you should demand that same level of service from your insurance provider. It is their job to ensure that your business and your equipment are covered. Replacement cost, conversion, and off premise coverage should be a standard in your policy. If you don’t have an adequate amount of coverage, your business may be seriously underinsured. In the event of a major loss, there is a very strong chance that your current policy will fall very short of what you need.
Strategic Partner
Most people hate insurance until the time comes when they need it. I believe we all need to see insurance in the light of people helping each other maintain financial security.
For example, in early civilization, if a house burnt down, the members of the community banded together and helped build a new one. If someone wasn’t willing to help, they were perceived as a bad neighbor and the community wasn’t as willing to help them out in the future. In today’s insurance world, there are plenty of “bad neighbors” out there who only want to collect premiums and are not concerned with helping you.
Once you received a quote and paid your premium, your coverage is bound and you believe that your business is adequately covered, right? Maybe! Don’t make your business vulnerable because you are not educated about the company that is insuring your business and the type of coverage they provide.
Do your research. There are A+ rated companies out there who have the knowledge and capability to protect your company for that “just in case moment.” For the sake of your business, seek out those insurance companies that have custom policies for your industry and can provide you with proper coverage, industry expertise, and financial strength and stability.
About The Author:
Matthew Davis is a regional manager for the National Insurance Specialists, which caters to equipment dealers in the rental markets. He can be reached at matt.davis@hylant.com.
Thursday, April 16, 2009
Just because you have an insurance policy, doesn't mean you have the right one. The difference between the right policy and the wrong one could cost your business hundreds of thousands of dollars if your insurance coverage is not adequate. When a loss happens, you need help - what you don’t need is to learn that there is no coverage to recoup your losses. The best time to get educated is now, before that scenario occurs.
The Coverage You Need
Unlike other businesses, there is no standard policy for your industry. The rental and equipment dealer has various unique risks and coverage needs that need to be individually evaluated for the proper insurance coverage. There are several factors that you should consider when insuring your business.
• Make sure you are insured with a specialist. Don’t insure your business with someone who doesn’t know your industry. Just because your brother-in-law sells home owner policies doesn’t mean that you should let him write your insurance. You may be doing him a favor and not yourself. Seek out someone who understands and works in the industry and can provide you the maximum coverage available.
• Choose financial strength and stability. Make sure you are with an A+ rated insurance carrier from A.M. Best. You can find out how your current insurance carrier is rated at http://www.ambest.com/. This rating system shows a client what a company’s financial strength is and its ability to meet their obligations. Remember, an insurance program is only as good as the company that stands behind it. Be cognizant of the inferior choices out there that may leave your business vulnerable.
• Customized coverage. Again, it is imperative that you have an insurance policy tailored your business needs. This must include your unique coverage needs such as conversion, in transport, equipment breakdown and off premises. Do your research and make sure your policy covers these areas.
• All lines of insurance. When picking your insurance carrier, make sure that they cover all lines of insurance. This means that their policy includes but is not limited to property, general liability, auto coveragevand workers compensation. Placing all of your insurance coverage with one carrier provides you with easier claim handling and decreases your chance of having gaps in your insurance coverage from one carrier to the next.
Ultimate Service
In an industry that caters to the needs of a diverse group of rental customers, it is fundamental to provide high-quality service. Whether they are renting party goods or homeowner and contractor equipment, your customers rely on you to provide high-quality equipment in good working condition – when they need it.
With that in mind, you should demand that same level of service from your insurance provider. It is their job to ensure that your business and your equipment are covered. Replacement cost, conversion, and off premise coverage should be a standard in your policy. If you don’t have an adequate amount of coverage, your business may be seriously underinsured. In the event of a major loss, there is a very strong chance that your current policy will fall very short of what you need.
Strategic Partner
Most people hate insurance until the time comes when they need it. I believe we all need to see insurance in the light of people helping each other maintain financial security.
For example, in early civilization, if a house burnt down, the members of the community banded together and helped build a new one. If someone wasn’t willing to help, they were perceived as a bad neighbor and the community wasn’t as willing to help them out in the future. In today’s insurance world, there are plenty of “bad neighbors” out there who only want to collect premiums and are not concerned with helping you.
Once you received a quote and paid your premium, your coverage is bound and you believe that your business is adequately covered, right? Maybe! Don’t make your business vulnerable because you are not educated about the company that is insuring your business and the type of coverage they provide.
Do your research. There are A+ rated companies out there who have the knowledge and capability to protect your company for that “just in case moment.” For the sake of your business, seek out those insurance companies that have custom policies for your industry and can provide you with proper coverage, industry expertise, and financial strength and stability.
About The Author:
Matthew Davis is a regional manager for the National Insurance Specialists, which caters to equipment dealers in the rental markets. He can be reached at matt.davis@hylant.com.
Thursday, April 16, 2009
Business Income
Business Income is a fairly inexpensive coverage and is an absolute must. This coverage will protect you for the actual loss of your net profit plus continuing expenses, including loss of rents that results from the necessary suspension
of your operations during the period of restoration caused by direct physical damage to property at an insured location.
Briefly, business income insurance is said to do for the business what the business would have done if there had been no physical loss or damage to property from a covered cause.
Please make sure you are covered!
of your operations during the period of restoration caused by direct physical damage to property at an insured location.
Briefly, business income insurance is said to do for the business what the business would have done if there had been no physical loss or damage to property from a covered cause.
Please make sure you are covered!
Thursday, November 12, 2009
SEAT BELTS
THE THREE COLLISIONS
The National Safety Council’s Injury Facts 2000, reports the following information regarding the use of safety belts:
•Reduce fatal injury to front seat occupants by 45% and reduce the risk of moderate to critical injury by 50%. For light truck occupants those figures increase to 60% and 65% respectively.
•Safety belts provide the greatest protection against ejection. In 1998 fatalities, 21% of unrestrained passengers were ejected from
the vehicle compared to 1% for those who were restrained with a safety belt.
•Lap/shoulder belts should always be used even in a vehicle equipped with air bags.
Seat belts saved an estimated 11,088 lives in 1998. To understand the value of safety belt use, it's important to understand some of the dynamics of a crash. Every motor vehicle crash is actually comprised of three collisions.
The Car's Collision
The first collision is known as the car's collision, which causes the car to buckle and bend as it hits something and comes to an abrupt stop. This occurs in approximately one-tenth of a second. The crushing of the front end absorbs some of the force of the crash and cushions the rest of the car. As a result, the passenger compartment comes to a more gradual stop than the front of the car.
The Human Collision
The second collision occurs as the car's occupants hit some part of the vehicle. At the moment of impact, unbelted occupants are still traveling at the vehicle's original speed. Just after the vehicle comes to a complete stop, these unbelted occupants will slam into the steering wheel, the windshield, or some other part of the vehicle interior. This is the human collision. Another form of human collision is the person to-person impact. Many serious injuries are caused by unbelted occupants colliding with each other. In a crash, occupants tend to move toward the point of impact, not away from it. People in the front seat are often struck by unbelted rear-seat passengers who have become high-speed projectiles.
The Internal Collision
Even after the occupant's body comes to a complete stop, the internal organs are still moving forward. Suddenly, these organs hit other organs or the skeletal system. This third collision is the internal collision and often causes serious or fatal injuries.
So, Why Safety Belts?
During a crash, properly fastened safety belts distribute the forces of rapid deceleration over larger and stronger parts of the person's body, such as the chest, hips and shoulders. The safety belt stretches slightly to slow your body down
and to increase its stopping distance. The difference between the belted person's stopping distance and the unbelted person's stopping distance is significant. It's often the difference between life and death.
Excerpts from "Sudden Impact," NHTSA, 1992.
The National Safety Council’s Injury Facts 2000, reports the following information regarding the use of safety belts:
•Reduce fatal injury to front seat occupants by 45% and reduce the risk of moderate to critical injury by 50%. For light truck occupants those figures increase to 60% and 65% respectively.
•Safety belts provide the greatest protection against ejection. In 1998 fatalities, 21% of unrestrained passengers were ejected from
the vehicle compared to 1% for those who were restrained with a safety belt.
•Lap/shoulder belts should always be used even in a vehicle equipped with air bags.
Seat belts saved an estimated 11,088 lives in 1998. To understand the value of safety belt use, it's important to understand some of the dynamics of a crash. Every motor vehicle crash is actually comprised of three collisions.
The Car's Collision
The first collision is known as the car's collision, which causes the car to buckle and bend as it hits something and comes to an abrupt stop. This occurs in approximately one-tenth of a second. The crushing of the front end absorbs some of the force of the crash and cushions the rest of the car. As a result, the passenger compartment comes to a more gradual stop than the front of the car.
The Human Collision
The second collision occurs as the car's occupants hit some part of the vehicle. At the moment of impact, unbelted occupants are still traveling at the vehicle's original speed. Just after the vehicle comes to a complete stop, these unbelted occupants will slam into the steering wheel, the windshield, or some other part of the vehicle interior. This is the human collision. Another form of human collision is the person to-person impact. Many serious injuries are caused by unbelted occupants colliding with each other. In a crash, occupants tend to move toward the point of impact, not away from it. People in the front seat are often struck by unbelted rear-seat passengers who have become high-speed projectiles.
The Internal Collision
Even after the occupant's body comes to a complete stop, the internal organs are still moving forward. Suddenly, these organs hit other organs or the skeletal system. This third collision is the internal collision and often causes serious or fatal injuries.
So, Why Safety Belts?
During a crash, properly fastened safety belts distribute the forces of rapid deceleration over larger and stronger parts of the person's body, such as the chest, hips and shoulders. The safety belt stretches slightly to slow your body down
and to increase its stopping distance. The difference between the belted person's stopping distance and the unbelted person's stopping distance is significant. It's often the difference between life and death.
Excerpts from "Sudden Impact," NHTSA, 1992.
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