Lessons Learned from New FASB Standards

by John Salustri

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COVID-19 hasn’t been the only disruptor of the commercial real estate experience. Years before the pandemic, the Financial Accounting Standards Board began tinkering with the way leases--meaning ALL leases--from real estate to equipment--are reported. The changes to corporate balance sheets sent the industry scrambling to be in compliance, even forcing corporate real estate executives not only to speak to, but often report to, departments that previously had remained foreign to them.

As IAMC 2020 Virtual Forum attendees heard in the workshop “ASC 842 Roadmap and Lessons from the Trenches” (which was among the most popular sessions), the road to compliance is indeed bumpy, but eventually, the path becomes more navigable.

IAMC Member Spotlight: Bill Luttrell, Werner Enterprises, Inc.

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As an organization, IAMC fosters relationships that turn into both business partnerships and long-term friendships. The path to corporate real estate varies widely, and our members come from a variety of professional and personal backgrounds.

We thank Bill Luttrell, Director, Corporate Real Estate, Werner Enterprises, Inc. for sharing his!

Long Term Strategies Guard Against Short-Term Corrections

by John Salustri

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Health risks aside--a difficult issue to ignore in the face of Covid-19 cases numbering in the thousands and climbing--the impact on manufacturing and distribution, especially when it entails a global supply chain, is staggering.

The issue also raises important questions about what corporate real estate managers can do in the face of any downturn to help maintain profit margins when economic conditions change for the worse. The answer we received from IAMC members can be boiled down to one concept: “Constant Diligence.”

How to Extend the Power of Your Networking

by John Salustri

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You can never overestimate the power of networking. It has come to be an expected benefit of IAMC Forums. 

Lane Johnson, director of property management at Whataburger, Inc. in Schertz, TX, has found a way to extend that Forum experience. “I was an early adopter of Cornerstone, and I’ve found it to be an excellent resource for proper benchmarking and peer resources.”

Cornerstone is IAMC’s membership community portal (https://cornerstone.iamc.org/home), providing platforms for discussions on a wide variety of hot-button topics in addition to a variety of other customizable features.