Month: October 2019

Altec had another great year with our customers at the 2019 ICUEE show, showcasing a wide variety of products and services that support the electric utility industry. This show occurs every two years in Louisville, Kentucky. This year, Altec celebrated 90 years of service to our customers.

At ICUEE, our customers had the opportunity to visit Altec’s booth to see demos, climb on units and meet with the teams that build and support our products.

During the day, Altec was one of the largest exhibitors at ICUEE and showcased in multiple locations. The Altec Dome, our largest space, offered a relaxing atmosphere where customers met with account managers, engineers and executives to discuss their equipment needs.

Our other exhibiting spaces featured product demonstrations, opportunities to run the units, and booths where customers met with representatives from Altec Capital, Altec NUECO, Global Rental, Altec Supply, Altec Worldwide, Altec Sentry and JJ Kane.

In the evenings, Altec hosted a customer appreciation event where customers enjoyed dinner, refreshments, giveaway prizes, special recap videos from the day and a message from Altec’s CEO, Lee Styslinger III. Customer giveaways included t-shirts, hats and die-cast digger derricks.

To help celebrate Altec’s 90th year, Lee Styslinger Jr. spoke at the customer appreciation event and thanked our customers for their support. Altec’s first digger derrick, (built in1975) was also on display at the dome.

Thank you to all of our customers that attended the show and stopped by our booths and hospitality events. We look forward to seeing you again at ICUEE 2021!

Have you had your eye on a piece of Altec equipment but decided to wait until next year to purchase it? To maximize savings and close out the year on a high note, consider buying now and financing through Altec Capital. When financing equipment during the 4th quarter, Section 179 and Bonus Depreciation are options that help leasees save money through increased tax benefits.

With an Altec Capital Lease, businesses are able to deduct 100% of the cost of certain assets in the first year of purchase for tax purposes.

Whether it’s a tax deduction or a lease, our knowledgeable finance experts are ready to help you and your business find the best options to achieve significant savings.

What type of lease is best for me?

TRAC Lease

This type of lease allows for all of the advantages of leasing while retaining the option to purchase the equipment at the end of the lease term for a pre-determined balloon payment, called a terminal rental adjustment clause (TRAC). TRAC leases are popular with companies that want lower monthly payments but desire the benefits of ownership at lease maturity. The TRAC lease has lower monthly payments than traditional finance options due to depreciation benefits retained by Altec Capital. These benefits are passed on to the customer in the form of a lower payment compared to traditional loans.

Benefits:
• Improved cash flow
• Lower monthly payments
• Limited upfront costs

Fair Market Value Lease (FMV)
An FMV lease minimizes equipment lifecycle costs and maximizes equipment utilization. This lease is ideal for companies that desire the latest technology and equipment on the market. The FMV is essentially a long-term usage agreement with terms ranging from 3-10 years.
Benefits:
• Typically has the lowest monthly payment
• Provides terms to match needs and lifecycle objectives
• Conserves working capital
• Eliminates end of lease risks
• Can have significant tax advantages

Eric Bishop, Altec Capital Eastern Regional Manager, says looking at lease types and tax deductions are a great way for customers to cut down on the overall cost of financing a piece of equipment.

“Our team at Altec Capital wants to make sure our customers take advantage of every opportunity to save money,” Bishop said.

Using a tax lease in the 4th quarter is a great way to take advantage of the best rates of the year from Altec Capital. These favorable depreciation deductions will deliver tax-saving benefits to many businesses in 2019. Please note that all qualifying assets will need to be financed and placed in service by December 31.

Call (888) 408-8148 or email finance@altec.com if you have any questions about Altec Capital lease options or 4th quarter tax benefits.

Let’s take a look at the units equipped with an Optiview system. On this machine, the lower control panel has two joysticks, one for boom functions and one for winch and digger functions. Once you become familiar with the controls, you can use both controls at the same time.

These joysticks are spring centered but not locked in the center position. However, there is an interlock triggering the joystick. It must be engaged before boom movement will occur. The red emergency stop button controls the operation of all functions. Press the control down to engage the emergency stop. Turn the control clockwise to disengage. The lower controls are activated by moving the lower/upper radio switch to the lower control position.

Note: The upper controls cease to function when the lower controls are in the override position.

The foot throttle will accelerate the truck’s engine from idle to a preset higher engine RPM. For optimum performance of the hydraulic system, use the foot throttle when operating boom, winch, or digger functions. The joystick on the right controls boom functions and the joystick on the left, controls digger and winch functions. To extend the upper boom, move the joystick to the right, to retract move it to the left.

To extend the intermediate boom press the button on top of the joystick and move right. To retract, press the button and move left. To raise the boom, pull the joystick back. To lower, push forward. To rotate the boom, simply rotate the joystick in the desired direction.

To operate the digger clean function, move the left joystick left. For dig function, move the joystick to the right. To pay out the winch line, move the left joystick forward. To retract the winch line, pull back. Remember, during extension of the booms, the winch line must be paid out to compensate for the increased rope length between the winch drum and the sheave. This prevents damage to the boom tip and breaking of the winch line.

The DM47B also has a series of switches to operate the machine’s accessories. They are operated in the same way as the controls at the stand-up multi-lever console.

Altec Sentry offers training designed to help employers train and qualify equipment operators on the safe and proper operation of aerial devices (insulating, non-insulating and tree care), digger derricks, chippers, and cranes.

Visit Sentry’s website to access operator safety and maintenance courses for many of our products. For questions about Sentry training or to register for a class, email sentrypost@altec.com.