Jetrader - January/February 2009 - 3

® Jetrader is a bi-monthly publication of The International Society of Transport Aircraft Trading (ISTAT). ISTAT was founded in 1983 to act as a forum and to promote improved communications among those involved in aviation and supporting industries, who operate, manufacture, maintain, sell, purchase, finance, lease, appraise, insure or otherwise engage in activities related to transport category aircraft. Jetrader Published for: International Society of Transport Aircraft Trading 401 N. Michigan Ave. Suite 2400 Chicago, IL 60611 USA Tel: 312.321.5169 Fax: 312.673.6579 www.ISTAT.org E-mail: istat@istat.org ISTAT BOARD OF DIRECTORS OFFICERS Michael Platt President Thomas W. Heimsoth Immediate Past President John W. Vitale Vice President Gregory A. May Vice President Treasurer Connie Laudenschlager Vice President Secretary DIRECTORS Fred E. Bearden Anthony Diaz Sigthor Einarsson Jay W. Hancock Peter Huijbers Will Hudson Joseph W. Ozimek Marc Allinson Daniel J. Pietrzak Mark Pearman-Wright Stephen T. Rimmer Jep Thornton ISTAT INTERNATIONAL APPRAISERS’ PROGRAM BOARD OF GOVERNORS Fred E. Bearden – Chairman Appraiser Fellow Fred J. Klein – Chairman-Elect Senior Appraiser Steve Boecker – Douglas Emerson Albert A. Nigro – Jeffrey Tenen Tony Whitty – Robert F. Agnew Senior Appraiser William Bath Appraiser Fellow/Administrative Director/ ISTAT International Appraisers Program ISTAT FOUNDATION Stephen T. Rimmer Chairman Michael Platt ISTAT President Thomas W. Heimsoth ISTAT Past President Robert Brown Vice Chairman Gregory A. May Secretary Treasurer TRUSTEES Jon Batchelor Klaus Heinemann Dana Lockhart James Morris Roland H. Moore, Esq. Chris Partridge Nick Popovich David P. Sutton David Treitel Warren Willits INTERNATIONAL SOCIETY OF TRANSPORT AIRCRAFT TRADING Ron Pietrzak Executive Director Ben Barclay Project Coordinator Dana Henninger Member Services Tracy Schorle Marketing and Communication Services from the president Michael Platt, President International Society of Transport Aircraft Trading My term as ISTAT president is winding down, and at our March conference in Scottsdale, I will have the honor of passing the torch to my successor, John Vitale. The ISTAT president is elected a full year before taking ofﬁce for a two-year term and must have served on the Board for two years before being nominated to run for president and remains on the Board for an additional two years as past president after the two-year term as president is complete. By the time a president of ISTAT leaves the Board, he or she will have served for a minimum of seven years! In my case it will be nine or 10 years (I have lost track). Why would anyone subject himself to this? It’s a great opportunity to work with and get to know the other board members, as well as many of the ISTAT members. While serving on the ISTAT Board, I have had the opportunity to work alongside some of the best and brightest people from our industry. I have developed a deeper respect for some my competitors, customers and suppliers based upon the quality of their representatives on our Board. As I look back on the last two years, I am pleased that we have accomplished a number of our objectives. We started by revising our bylaws, we assigned all Board members to committees so that every single Board member contributed to the success of ISTAT in very signiﬁcant ways over the last two years, and we continued to improve our conferences and receptions and are now responsible for providing educational and networking opportunities for more participants each year than any other organization or event in the aviation industry. In 2008, ISTAT held its ﬁrst educational forum in China introducing a number of Chinese industry ofﬁcials to our organization. Through the hard work of Steve Rimmer and the ISTAT Foundation, we have increased contributions to the endowment funds of the Foundation. We have also decided to develop an ISTAT humanitarian project, and we’re determining how we match needs and capabilities. You will be hearing more about this soon, and it will be a great way for you to get involved in ISTAT activities. While we have had great successes, neither ISTAT nor the ISTAT Foundation have been immune to the current economic environment and despite a conservative approach, our invested funds have been adversely impacted. Both ISTAT and the Foundation Boards take regular advice from our investment advisor, Smith Barney. Both Boards have spent considerable time discussing investment policy. As of December 4, 2008, ISTAT’s mutual fund investments are down approximately 25 percent for the year while the Foundation’s are down approximately 29 percent. But, this performance is signiﬁcantly better than the overall equity markets with the S&P 500 of 42.4 percent. Fortunately both entities have also held a signiﬁcant amount of capital in cash investments and ISTAT has generated signiﬁcant operating income. ISTAT should ﬁnish the year with approximately $2.8M in cash and long-term investments and the Foundation should end the year with approximately $1.9M. I have found my time on the ISTAT Board to be very rewarding, and I want to thank all of my fellow board members, Executive Director Ron Pietrzak and the entire ISTAT staff for their support and hard work and for making this job so enjoyable. Finally, I hope that I can offer the same support and guidance to John Vitale that our current Past President Tom Heimsoth has offered to me. Tom’s knowledge and experience have made my job much easier. Jetrader 3

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Jetrader - January/February 2009

Table of Contents for the Digital Edition of Jetrader - January/February 2009