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Fairport, NY (October 17, 2008) – Earlier this week, the management team of First American Equipment Finance participated in the 47th Annual ELFA Annual Convention in New Orleans, Louisiana. The event was led by First American CEO William Verhelle, who served as the 2008 Chairman of the Equipment Leasing and Finance Association (ELFA).
As part of the convention activities, First American’s management team participated in the ongoing relief efforts related to Hurricane Katrina. On Sunday morning, October 12th, First American staff joined other industry volunteers to assist the residents of St. Bernard Parish with their efforts to rebuild a youth athletic facility. Located just below New Orleans’ lower 9th Ward, St. Bernard Parish was severely hit by Katrina, suffering damage to 100% of commercial, government and residential structures.
The convention kicked off on Monday with Verhelle’s delivery of the Chairman’s Report. During his address, Verhelle outlined the association’s new initiatives and achievements over the past year. He also described the increased importance of the ELFA, given the current challenges in the U.S. credit markets. Following Verhelle’s address, former U.S. Congressman Charlie Wilson delivered a stirring speech describing his support of the Afghan people, which was the inspiration for the book and movie "Charlie Wilson's War."
The convention included dozens of breakout sessions tackling a wide range of industry topics, from emerging market opportunities, to the impact of changing credit philosophies, to raising capital and finding liquidity. In addition to the breakout sessions, industry leaders led sector-specific Business Council Meetings addressing opportunities and challenges in their segment of the industry.
Speakers at the convention included former U.S. Congressman and ELFA President Kenneth E. Bentsen, Jr., Former Continental Airlines Chairman and CEO Gordon Bethune, and political expert Charlie Cook. Their comments were enjoyed and appreciated by all in attendance.
The ELFA is the premier trade organization for over 750 member companies, including independent equipment leasing companies, captive equipment leasing companies, and commercial banks.