Raimondi Cranes in Italy will expand offerings....
By James Waite Rental Management Magazine WHAT CHANGES IN TAX LAWS CAN MEAN Editor’s note: The tax change proposals mentioned in Legally Speaking this month currently are under discussion by members of Congress in Washington, D.C. According to John McClelland, Ph.D., American Rental Association (ARA) vice president for government affairs...
Question: I’m buying some equipment, and the shipping terms in the purchase agreement refer to “EXW Incoterms 2020.” I’m generally familiar with “Incoterms,” but I don’t really have a lot of time to study what each one means. Can you give me a summary of what...
Sales drop in line with industry decline. ...
A lawsuit filed in Chicago federal court claims that construction equipment giant United Rentals and four rivals conspired with a data services platform to fix prices, causing thousands of businesses to overpay for excavators, cranes and other vehicles. ...
Strengthening focus from new machinery sales to the localization of parts and service support to rapidly respond to the needs of dealers and customers in Latin America ...
Volvo CE reported a notable drop in North America net sales and net order intake for its third quarter of 2024. Sales in North America for the quarter came in at $476 million, down 34% from the $726 million Volvo saw in last year’s third quarter. For...
James Waite presents on The State of the Equipment Industry from an economic outlook and how to better prepare for what is to come....
Question: I’m considering buying a competing equipment dealership. I’m being told that I should buy the assets rather than the equity of the target business because, if I do that, my company won’t assume any of the seller’s liabilities. Is that true? Answer: For most business buyers, purchasing...
Question: I’ve rented and sold equipment to a customer for construction work, but I haven’t been paid. Can I file a mechanic’s lien on my own to get the money I’m owed? Answer: Yes, but the requirements are highly technical and strict. If you miss a deadline or...
Question: “We have operations in multiple states. How can we prepare a single form of Dealer Agreement enforceable in each of those states?” James Waite’s Answers: You and/or your attorney must review each state’s dealer and in some cases, franchise laws to determine whether and to...
Question: I just had two large customers file bankruptcy. One of them was making payments on a rental that included an informal purchase option — just some notes written on the face of a rental contract; the other owes me more than $50,000 on a...
The heavy equipment industry, worth approximately $200 billion annually, is expected to exceed $230 billion by 2025 and is poised for explosive growth....
On March 1, in a deal that was widely reported in business and trade media, Hitachi and John Deere formally ended a joint operating agreement that had been in place for more than 30 years. It was considered the longest and most successful collaboration in...
The Atlanta Journal-Constitution Despite the pandemic and its fallout, business in Georgia is thriving. Area Development and Site Selection magazines have ranked the Peach State “No. 1 for Business” for seven and eight years running, respectively. A 2021 CNBC survey ranked Georgia the No. 6 state...
By James Waite Rental Management Magazine UNDERSTANDING RIGHT-TO-REPAIR REQUIREMENTS QUESTION: I RECENTLY HEARD ABOUT A PROPOSED NEW FEDERAL RIGHT-TO-REPAIR REQUIREMENT, AND I’D LIKE TO KNOW IF YOU CAN PROVIDE ANY INFORMATION REGARDING ITS COVERAGE AND STATUS. Answer: On July 6, 2021, the White House Press Secretary announced a sweeping executive order that...
By James Waite Rental Management Magazine PROTECTING YOURSELF FROM CUSTOMER BANKRUPTCIES QUESTION: I JUST HAD TWO LARGE CUSTOMERS FILE BANKRUPTCY. ONE OF THEM WAS MAKING PAYMENTS ON A RENTAL THAT INCLUDED AN INFORMAL PURCHASE OPTION — JUST SOME NOTES WRITTEN ON THE FACE OF A RENTAL CONTRACT; THE OTHER OWES...
By James Waite Rental Management Magazine KEEPING GOOD CUSTOMERS FROM GOING BAD WITH GUARANTEES QUESTION: SINCE THIS CORONAVIRUS (COVID-19) PANDEMIC AROSE, I’VE BEEN HAVING A TERRIBLE TIME GETTING PAID BY SOME OF MY CUSTOMERS. COLLECTIONS HAVE SLOWED AND MAINTENANCE ISN’T BEING PERFORMED AS IT SHOULD BE. I EVEN HAD A...
By James Waite Rental Management Magazine SAFELY USING ELECTRONIC SIGNATURES; ADDRESSING CONCERNS ABOUT THE ACCELERATING GROWTH OF E-COMMERCE QUESTION: MY EQUIPMENT RENTAL OPERATION IS ADOPTING AN E-COMMERCE PLATFORM, AND WE’RE WONDERING HOW SAFE AND LEGALLY ENFORCEABLE ELECTRONIC SIGNATURES ARE. WE ALSO ARE WONDERING HOW NECESSARY ALL OF THIS IS. ANY...
By James Waite Rental Management Magazine FINANCING BUSINESS SALES; HOW TO KEEP A SMALL CHANGE FROM BECOMING AN ENORMOUS HEADACHE QUESTION: I’M CONSIDERING SELLING MY BUSINESS. I HAD AGREED ON TERMS WITH A POTENTIAL BUYER, BUT AT THE LAST MINUTE, HE CHANGED THE DEAL AND NOW WANTS ME TO FINANCE...
