Man is a long time coming.
Man will yet win.
Brother may yet line up with brother.

In the darkness with a great bundle of grief the people march.

Where to? What next? - Carl Sandburg: The People, Yes. Copyright, Harcourt, Brace & Co., 1936

With the advent of yet another New Year, each of us, perhaps, becomes duly introspective of the past and may share some of the questions of Carl Sandburg. "Where to? What next?"

On the broad automotive front we must support and in­fluence our congressional leaders during the coming transi­tional period of leadership. We must encourage the watch­dogs of our interests in Washington to insure that adequate and equitable attention is given to our national transporta­tion policies; and specifically to the commitment of the long-term highway user needs.

These objectives must be enhanced with the guarantee that mobility is preserved with the assurance that adequate and secure energy supplies essential to the industry and the nation remain available. All this within the confines of the ecological boundaries that create our environment and that of our children.

Our responsibilities will undoubtedly focus more direct­ly upon our own businesses and the factors that influence us more directly each day. Considering a recent report by the Board of Governors of the Federal Reserve System, we have our work cut out for us.

The Board estimates that leasing to individuals alone has tripled in the last decade and now accounts for ten percent of the total car market. Their 1974 estimate of automotive leasing in commercial fleets was 2.8 million or "about 26-percent of new car production." Additionally, they report­ed that today, two out of every five cars are leased in the state of California; and that by 1980, 40-percent of new car registrations will be for leased cars nationally.

If we can give credibility to this august group, it is worth noting that should 1980 produce an 11.3 million car year out of Detroit, more than a half million cars would go into leasing. Importantly, it may mean that whatever we are ing today in 1977, we may be confronted with three times our current business. Even if they are off by 50-percent, it still is mind-boggling.

Our own biennial study of the industry in terms of leas­ing has a full analysis in this issue but it should be pointed out that the Finance and Management type leases continue to become even stronger now accounting for three-quarters of all leases. The modest but consistent rise was directly at the expense of Full or Partial Maintenance leases; with Fix­ed standing solidly at 15-percent.

By any index, the largest problem industry-wise today, is that of insurance. By a yardarm. It is the first time that the problem has been reported in substantive quantity since we began polling lessors back in 1962. It would appear that our leaders and the associations might consider this problem as a number one priority resolution once we have a good handle on the necessities surrounding the ominous FTC disclo­sure legislation and its effects.

Establishing the chronological order for consideration of our available energies on problems such as the inflation, government interference and regulations, interest-finance rates, banks as competitors, competitive rates themselves, residual values and adjusting to the new FASB rules, is our challenge.

Where to? What next?

Hopefully, our industry movers will provide the le, ship to gain the individual interest and support that will create the strength to meet these problems and secure our future for the opportunity years ahead.