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October 23, 2012
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Daily news for the equipment finance sector

  Industry News 
  • Confidence in equipment-leasing sector holds even for October
    The Equipment Leasing & Finance Foundation's Monthly Confidence Index for the Equipment Finance Industry remained relatively steady this month, reaching 53.3, compared with September's 53. "Near term, results will continue to be strong," said Harry Kaplun, president of Frost Equipment Leasing and Finance. "In the longer term, significant variables like accounting rules, depreciation rates and cost of funds will change the landscape." Today's Medical Developments (10/2012) LinkedInFacebookTwitterEmail this Story
  • N.Y. will invest as much as $5.7B to bolster energy transmission
    The New York Energy Highway Task Force launched a plan that calls for as much as $5.7 billion in private investment to increase electricity generation and transmission capacity. New transmission lines, smart-grid projects, and transmission and distribution improvement are all part of the plan. "As we work to grow New York's economy, we need reliable, affordable, and clean power to leverage significant private sector investments, to allow businesses to grow, and to create jobs," Gov. Andrew Cuomo said in a news release. Platts (10/22), Newsday (Long Island, N.Y.) (subscription required) (10/22), TransportationNation.org (10/22) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Analysis: Europe's bank-funding market reopens
    After a worrying dry spell, European banks again have access to the bank-funding market, and terms they are getting are encouraging for the financial sector, according to The Economist. "Banks' funding costs have fallen below those of investment-grade European corporations for the first time in three years," the magazine notes. The Economist (10/20) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • EU court will hear legal challenge to eurozone bailout fund
    The EU Court of Justice in Luxembourg will hear a challenge to the legality of the eurozone's $652 billion bailout fund. Thomas Pringle, an independent member of the Irish parliament, brought the challenge arguing that the European Stability Mechanism violates a provision of EU law that bars bailouts. Bloomberg (10/23) LinkedInFacebookTwitterEmail this Story
  • Debt cancellation might be an option for central banks
    Debt cancellation has entered the picture as a possible option for central banks that have acquired mountains of government debt during the past few years. "The initial argument is seductive; the government and the central bank both belong to the public sector, so simple consolidation would net out the debt without any loss to the private sector," said Michala Marcussen, global head of economics at Societe Generale. However, Marcussen said there could be issues. MarketWatch/The Tell blog (10/22) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  • Risk costs will rise in 2013, PayNet says
    Lenders' risk costs are expected to increase next year for the first time since 2009, according to PayNet. "Although far lower than the 7.2% costs in 2009, CEOs should plan higher risks costs in 2013," President and co-founder William Phelan said. Such data were scheduled for presentation at ELFA's annual conference. Read more. LinkedInFacebookTwitterEmail this Story
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Whether you use the 2012 Survey of Equipment Finance Activity as a performance management tool, a benchmarking tool, a marketing tool or a research tool, you'll find the information you need to stay informed and keep your competitive edge. Special Offer: Download a free summary or order the full report. ELFA members save 46%!
  ELFA News 
  • Update from the ELFA 51st Annual Convention
    At the ELFA annual convention Monday, Chairman Crit DeMent delivered a keynote address about the resilience of the equipment-finance industry and opportunities for growth. "We need to be highly flexible and exceptionally agile in order to succeed today and to capitalize on opportunities as they arise," DeMent said. "Our new reality is that we must adapt to the demands of the marketplace, not the other way around."

    He encouraged attendees to "spend your time here harvesting ideas, making contacts and participating in this exciting and productive exchange of knowledge. Most importantly, start seeking out and discovering the opportunities that are all around us."

    DeMent's remarks were followed by presentation of the Distinguished Service Award to industry veteran Andrew Mesches and a keynote address by former Federal Deposit Insurance Corp. Chairwoman Sheila Bair, who shared her insight regarding the financial sector.

    A luncheon hosted by the Equipment Leasing & Finance Foundation celebrated Foundation donors and included a keynote address by business coach Scott Deming, who shared marketing and branding insight for the new economy.

    Throughout the day, attendees participated in breakout sessions on critical industry topics, including the Foundation's equipment-finance market-sizing study, navigating funding headwinds, business planning for the new economic era, and leasing trends and opportunities outside the U.S. Attendees also visited the exhibit hall, which showcased the latest technology and services available to increase the operational efficiency of their companies.


    Thank you to sponsors supporting the convention. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Too often man handles life as he does the bad weather. He whiles away the time as he waits for it to stop."
--Alfred Polgar,
Austrian journalist


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