An index is born for the rental industry
The American Rental Association (ARA) has unveiled a new ARA Equipment Rental Penetration Index, which is being introduced at The Rental Show 2013 in Las Vegas.
“The ARA Equipment Rental Penetration Index is the association’s latest resource to help rental store owners and managers, manufacturers, and industry analysts and investors better understand the potential of the rental channel and its long-term prospects,” said Michael Kneeland, CEO of United Rentals, Greenwich, Conn.
At the request of ARA members, Moline, Ill.-based ARA convened a workgroup in September 2012 to develop a plan of work for estimating an appropriate measure of equipment rental penetration for the equipment rental industry. The new index was created with the research firm IHS Global Insight.
“The basic concept of the ARA Equipment Rental Penetration Index is to measure the amount of equipment that is rented as a percentage of total construction equipment,” said Christine Wehrman, ARA’s executive VP and CEO.
ARA used the index to analyze results covering 2003-2011, which shows rental penetration for construction machines was in the range of 40% at the beginning of the analysis to just above 50% in 2010 and 2011. The result is consistent with the expectation that in recent years the size of the rental fleet has increased relative to the construction fleet.
“Rental firms tend to measure their performance on a cost basis and the most often used cost base for rental equipment is original equipment cost (OEC),” said John McClelland, Ph.D., ARA’s VP government affairs, who helped lead ARA’s rental penetration index workgroup. “The OEC-weighted approach allows the ability to derive several components of the equipment rental penetration calculation using well-established data and techniques."
Toilet product company gets new CFO
Squatty Potty, the maker of a product described as "a toilet stool for colon health," named Devin Brady as CFO.
Brady will oversee Squatty Potty’s direct accounting, treasury and finance functions, in addition to developing and implementing a business plan to develop the brand.
How does the Squatty Potty work? The company’s video (tastefully done) explains that the stool for the feet improves the toilet user’s posture during "elimination."
Since its launch two years ago, the company says it has shipped its toilet footstool across six continents and to all 50 U.S. states.
“I am thrilled to join this unique and innovative company,” said Brady. “We expect to accomplish several goals in the next two years, including establishing the Squatty Potty brand as the preeminent name in quality products for healthy digestion and elimination. By the end of 2013, we anticipate having nationwide household name recognition while generating significant sales in four key international markets."
Prior to joining Squatty Potty, Brady was the owner and principal of Devin Brady, CPA, PLLC, which served a variety of service, retail and non-profit clients. Brady also served as CFO at Suh’dutsing Technologies’ family of companies, where he managed treasury functions and repaid all company debt over a two-year period. He also served as a senior accountant at HintonBurdick CPAs and Advisors.
Nebraska company promotes Zip-Up ceilings
Norfolk, Neb.-based Zip-Up Ceiling System is promoting itself as a quick and easy alternative to drywall ceiling installations.
Made from durable flexible interlocking PVC components engineered to fit together with a few tools, Zip-Up Ceiling delivers a clean, grid-free flat, non-corrugated washable mold- and mildew- resistant surface, according to the manufacturer. The panels, which resist kinking during installation, unzip for easy removal for access to electrical, plumbing and other work, and for cleaning.
Suitable for both residential and commercial installations, Zip-Up Ceiling meets Class A Fire Rating. The system, which takes up only 2 ins. of headroom, features just three primary components: wall trim, main rail and panels. The main rails and panels are available in white and beige in smooth and serrated finishes. The finished ceiling is paintable with latex paint.