Carolina CAT reached out to its customers with a finance seminar on Jan. 20 at its corporate office in Charlotte, N.C. More than 25 of the company’s key customers as well as representatives from Carolina CAT’s construction division management team, Charlotte and Hickory area territory managers and CAT Financial representatives were in attendance for “Rewind, Rethink, Reset… Strategies for Managing the ‘New Normal,’” which offered financial insights, guidance, advice and encouragement to customers trying to get through this tough economic time.
Robert Davidson, a Tennessee-based certified public accountant who specializes in the construction industry, was the keynote speaker for the event, during which he shared a review of recent economic conditions, discussed things to consider from a tax standpoint when buying equipment, accounting rules for bonus depreciation, buying new equipment versus repairing existing fleets and other fleet replacement strategies. Additionally, the seminar featured a brief presentation by Milton Long, Charlotte area manager for CAT Financial and FCC Equipment Financing, who addressed current economic conditions and what criteria creditors look at in today’s market when analyzing a customer’s credit.
The seminar also addressed real-life options for customers including what strategies they could use to address any current debt that they may have and how to speak to all their lenders and be proactive in working with them through these difficult times.