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- Pace of U.S. business investment drops
Major U.S. companies are slashing investment plans at a rapid pace amid uncertainty over taxes and their economic prospects. Among the 40 largest publicly traded companies, half said they plan to scale back capital investment this year or in 2013. The Wall Street Journal
(11/19)     
| Market Trends | | |
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- Prospect of releveraging bodes well for U.S. economy
Deleveraging an overhang of debt in the U.S. private sector has been the order of the day for several years. But now signs are emerging that the economy has reached the point that a gradual releveraging may be in store, promising to generate a "balance sheet recovery." Business Insider
(11/17)
| Government & Regulatory | | |
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- Budget deal looks promising, leadership says
Congressional leaders and President Barack Obama are promising to act quickly to avert a "fiscal cliff" and reach a budget compromise. An agreement for a two-phase plan is likely to trim some entitlement programs and increase some taxes. "This isn't something we're going to wait until the last day of December to get it done," said Senate Majority Leader Harry Reid, D-Nev. National Journal
(11/16), The Wall Street Journal
(11/16)
- Treasury official: Simpler Basel rules would help smaller banks
Smaller banks' vital role in the community should be considered by regulators, which should weigh simpler Basel III rules to apply to these institutions, says Mary Miller, the Treasury Department's undersecretary for domestic finance. "While we strongly believe that finalizing the regulations is critically important for certainty and planning, we also believe there are merits to considering alternative, simpler approaches to rules that apply to community banks," Miller said. Reuters
(11/16)
- FSB seeks controls on shadow banking
The Financial Stability Board issued a proposal to regulate shadow banking, worth an estimated $67 trillion last year. "The objective is to ensure that shadow banking is subject to appropriate oversight and regulation to address bank-like risks to financial stability emerging outside the regular banking system while not inhibiting sustainable non-bank financing models that do not pose such risks," according to the FSB. Google/Agence France-Presse
(11/18), Bloomberg
(11/18), Financial Times (tiered subscription model)
(11/18)
- China works toward yuan convertibility
People's Bank of China Governor Zhou Xiaochuan says the next step in reforming the exchange-rate system is making the yuan convertible. "We are going to realize it. We are moving in this direction. We need to go further. We will have some deregulation," he said. Bloomberg
(11/18)
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Registration is open for 2013 Equipment Management Conference & Exhibition
Registration is open for the 2013 Equipment Management Conference & Exhibition, scheduled Feb. 24 to 26 at the Grand Hyatt Tampa Bay in Tampa, Fla. Next year will be the 25th year for this event, and ELFA has planned a special celebration. Details on the agenda will be available soon, but for planning purposes, the conference begins with an on-site vehicle showcase at 3 p.m. Feb. 24 and ends with a closing dinner Feb. 26. Register!
The Grand Hyatt Tampa Bay has set up a special website for attendees to make a hotel reservation. If you prefer, call the hotel at (813) 874-1234 or (800) 233-1234. Provide your arrival and departure dates, and mention "ELFA Equipment Management Conference" to get the ELFA group rate. Make a reservation before Feb. 1 to secure the group rate.
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ALERT: Calif. Electronic Waste Recycling Fee change is effective Jan. 1
On Jan. 1, the California Electronic Waste Recycling Fee will change to $3, $4 or $5, depending on the diagonal viewable screen size of equipment. Lessors are responsible for collection on the sale or lease of a covered electronic device even if exercising the option for vendors to voluntarily collect and remit the fee. Covered devices include computer monitors, televisions, laptop computers and portable DVD players. Visit the California Electronic Recycling Fee page on the ELFA State Advocacy website for more information.
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