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March 12, 2013
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Daily news for the equipment finance sector

  Industry News 
  • GE doubts U.S companies will increase capital spending
    General Electric CEO Jeff Immelt has warned shareholders that political uncertainty in the U.S. could cause companies to reduce or delay capital spending. For that reason, GE is more optimistic about growth in large emerging markets, he wrote in an annual letter. Reuters (3/11) LinkedInFacebookTwitterEmail this Story
  • Citi plans global revamp to focus on growth markets
    Citigroup CEO Mike Corbat, as part of a global overhaul, plans to shift resources from underperforming nations to countries where the bank is expanding. "These days, all banks have finite resources," said Jim Cowles, chief for Europe, the Middle East and Africa. "At Citi, we have prioritized countries we operate in, balancing where opportunities lie and where we are best positioned. We are focusing on what we do well and what our clients' needs are in each of our countries." International Financing Review (free content) (3/9) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Mapping the U.S. housing recovery
    Lost among the political gridlock in Washington is one major positive indicator for the economy: The housing market is starting to rebound. Real estate foreclosures, mortgage delinquencies and vacancies are declining. This article uses maps to drill down to the state and ZIP code level to analyze the most promising sections of the country for housing-related businesses. SmartBrief/SmartBlog on Finance (3/8) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • House GOP wants explanation of "too big to jail"
    The House Financial Services Committee's top Republicans say they have a "deep concern" about Attorney General Eric Holder's remark that big banks might be "too big to jail." The lawmakers are seeking clarification from the Obama administration. They wrote a letter that requests information about how Holder's team decides the economic and financial risk of leveling charges against big banks. The Hill/On the Money blog (3/11) LinkedInFacebookTwitterEmail this Story
  • Banks must improve FX risk management, New York Fed says
    Jeanmarie Davis, head of financial market infrastructure at the Federal Reserve Bank of New York, said that banks need to improve their risk management of foreign exchange trading. "We will monitor the progress of implementation of the guidance and we want to see an improvement in the industry's ability to identify, measure and monitor the duration of the risks, and then take steps to eliminate or mitigate the risk," Davis says. (subscription required) (3/11) LinkedInFacebookTwitterEmail this Story
  • Barclays says Libor should be set by deals, not estimates
    Barclays supports tying benchmarks such as the London Interbank Offered Rate to actual transactions, instead of estimates. The bank says in a letter to the International Organization of Securities Commissions that administrators of financial benchmarks should have little or no say in setting the level. "Reporting transactions or tradeable prices available to the market would serve to reduce conflicts, especially as trades are already subject to a clear and robust regulatory framework," according to the letter. Bloomberg (3/12) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  • Manufacturing-tech orders declined in January
    Orders for manufacturing technology reached $370.62 million in January, the Association for Manufacturing Technology says. The total was down 26.5% compared with December and down 12.2% compared with January 2012. Read more. LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • Register and get the best appointments with funding sources at the ELFA National Funding Conference
    If you want to reconnect with funding sources or establish a relationship with new ones, register as soon as possible for the 25th National Funding Conference, scheduled April 9 to 11 at the Fairmont Chicago hotel. Attendees have begun setting up appointments, and we don't want you to miss out on meeting with your first choices. Registered attendees who have established an online profile can schedule an appointment with funding sources that have purchased a "suite on the floor." Get instructions on how to set up a profile and make appointments with funding sources. If you are not yet registered for the National Funding Conference, you can do so from that website as well.

    Funding sources: Still on the fence about exhibiting? We encourage you not to delay as the National Funding Conference is almost upon us. There are already 40 funding sources participating, and we want to make sure you are included. Register as an exhibitor.

    Don't forget! Make a hotel reservation before the March 19 deadline. Call (888) 390-2929 and tell the hotel you will be attending the ELFA National Funding Conference. You can also make a hotel reservation online. LinkedInFacebookTwitterEmail this Story
  • Get ahead of the curve with the 2013 Industry Future Council Report
    Every year, the Equipment Leasing & Finance Foundation brings together leaders representing various market segments and ticket sizes to examine trends, challenges and opportunities for the industry at the Industry Future Council meeting. The 2013 Industry Future Council Report summarizes the two-day discussion, addressing topics such as how the industry's image has changed after the recession, where potential disruptors to the industry lie and future areas of growth. The report is an invaluable strategic tool for your business.

    Donors can receive a free copy of the report. Download yours from the Foundation's online library! LinkedInFacebookTwitterEmail this Story
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We are all worms. But I do believe that I am a glow-worm."
--Winston Churchill,
British prime minister

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